JSO1 successfully answered sebrenner's question:

Is it against the law for US citizens or residents to trade on overseas futures markets such as TradeSports.com?

Many view these types of prediction markets as gambling or betting. Does anyone have any experience with the US legal system's view of US residents and citizens participating in these sorts of prediction markets?

People succeed in answering sebrenner's questions 33% of the time (1 success in 3 attempts).

Answers by: michael | ROLCAM | JSO1

JSO1's Answer:

Reply by JSO1 872 days ago

Here is an article prepared by MSNBC that goes into decent detail regarding your question:

http://msnbc.msn.com/id/3073159

Here is another resource - a Google Group specific to Prediction Markets:

http://groups.google.com/group/Prediction-Markets?hl=en

I believe the bottom line is until there is additional legal precedence, there is not a definitive answer. From past experience, I would predict that it would be deemed illegal for US Citizens to participate.