Thursday, Jun 19, 2008
Intrade has listed a contract on the United States Congress announcing the current ban on offshore drilling for oil and gas will be lifted. This contract can be found under Current Events -- Oil and Gas -- Will the US ban on offshore oil and gas drilling be lifted?
Contract Rules:
This contract will settle (expire) at 100 ($10.00) if the US Congress announces a lifting of the ban on offshore oil and gas drilling on/before 11:59:59pm ET on the date specified in the contract.
The contract will settle (expire) at 0 ($0.00) if the US Congress DOES NOT announce a lifting of the ban on offshore oil and gas drilling on/before 11:59:59pm ET on the date specified in the contract.
Expiry will be based on official announcements from Congress, as reported by three independent and reliable media sources.
Due to the nature of this contract please also see Contract Rule 1.7 Unforeseen Circumstances.
The Exchange reserves the right to invoke Contract Rule 1.8 (Time Protection) if deemed appropriate.
Any changes to the result after the contract has expired will not be taken into account - Exchange Rule 1.4
Please contact the exchange by emailing help@intrade.com if you have any questions regarding this contract before you place a trade.