Chris Masse censored by Steve Levitt on the TradeSports NKM issue.

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Chris. F. Masse

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Aug 9, 2006, 2:54:07 PM8/9/06

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Hello dear friends of prediction markets,

I've just been censored by Steve Levitt, who has suppressed the comment
that I've made today on his excellent blog post about the NKM
controversy:
http://www.freakonomics.com/blog/2006/08/09/a-bump-in-the-road-for-prediction-markets/

I've reposted my (now suppressed) comment here:
http://www.chrisfmasse.com/2/2006/2006-08-09_north_korean_missile_contract_tradesports_intrade.html#Steve_Levitt

There's probably something I said that Steve Levitt viewed as unfit to
print, and his opinion is honorable. I really don't know what is it
that went wrong. Would you be so kind so as to point to me where I
faulted? Something I said? What, exactly?

I offer my apology, in advance, if you find something outrageous or
untrue in the following text:

QUOTE

Thanks for airing this controversy. You're brave.

I'd like to say to your readers that very few scholars have dared
expressing their viewpoint publicly, because scholars need the data
coming from TradeSports (and BetFair) to feed their research and
publications. They fear retaliation from TradeSports (which has already
retaliated against me for airing this dispute).
http://www.chrisfmasse.com/4/feedback/2006/2006-07-24_john_delaney.html

As you said perfectly, this issue is complex and there's no clear
cut. As I wrote, all opinions are respectable (expire to 0; expire to
100; unwind all trades and void all bets; or pay both sides).

That said, one thing bothers me a lot: How TradeSports treated its
customers.

The intent of the contract was whether NK would launch missiles. It
became whether the US DOD would confirm the NK missile launches after
July the 4th, but that was not wanted originally by TradeSports.

Which is why TradeSports apologized to its customers and promised to
carry some reforms.
http://www.tradesports.com/aav2/news/news_58.html

The problem is that TradeSports apologized and promised to reform, but
they did nothing to compensate the victims.

What's problematic with TradeSports is that their customers can not
complain anywhere. As you know, TradeSports is illegal in the U.S. And
contrary to Betfair, TS is not a member of any independent arbitration
service.
http://www.ibas-uk.com/

And TradeSports is not regulated in Ireland, contrary to BetFair, which
is regulated in the U.K.
http://www.gamblingcommission.gov.uk/

So if you're a disgruntled traders (mostly U.S. residents, where
TradeSports is illegal), where do you complain? Not to the US courts.
Not to trade associations. The only people who will listen are some
sportsbook guide, where TradeSports has just been downgraded to C+.
http://www.sportsbookreview.com/Search/default.aspx?Search=tradesports&Area=Site&Submit=Home

This situation is very sad, and I hope that TEN CEO John Delaney will
come forward to make the necessary reforms to TradeSports / InTrade.

Thanks.

UNQUOTE

So, that was it. Would you mind helping me finding out what was so
objectable or dead wrong in my blog comment? Thank you very much.