iPredict

California to legalise marijuana by end 2017

Long Description

This contract will close at $1 if the state of California decriminalises the possession and transportation of a significant amount of cannabis before midnight, 31 December 2017. Otherwise it will close at $0.

Judging Criteria 

The purpose of this contract is to forecast the likelihood of the decriminalisation of cannabis in California happening before the specified end date, an event of sociological interest.

To qualify the contract to close at $1, 'decriminalisation' is defined such that the state must pass a law which has the effect of allowing the possession and transportation of more than 1 ounce of cannabis by the general population without prosecution (unless under age, whatever that age is deemed to be in Californian law), for personal use but regardless of application (this means both recreational and medical uses must be legal).

This contract is not affected by the legality of sale and cultivation of cannabis in California.

This contract does not apply to any synthetic cannabis products and any legalisation thereof will not cause this contract to close.

This contract will be closed no later than 3 working days after the Close Date. The Close Date may be extended if the event outcome cannot be determined by that date.