iPredict

United States of America to legalise marijuana by end 2016

Long Description

This contract will close at $1 if the nationwide possession and transportation of a significant amount of cannabis is decriminalised in American federal law before midnight, 31 December 2016. Otherwise it will close at $0.

Judging Criteria 

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

To qualify the contract to close at $1, 'decriminalisation' is defined such that the country 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 underage, whatever that age is deemed to be in federal 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 the US.

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.