allow prediction markets like Intrade to operate.

Prediction markets like Intrade are cutting edge ways for individuals to aggregate information about events. By leveraging the wisdom of crowds, we can learn important things about societal probabilities from prediction markets, a fact that has led numerous organizations and academics to experiment with them. Yet, rather than embracing the innovation that is possible, the government is rigidly applying a rule that benefits noone by taking action against Intrade and other prediction markets. This is a classic case of over-regulation, of the kind that both Democrats and Republicans have railed against, and there is no good reason to stop Americans from using Intrade.