As an Illinois resident, is it completely legal for me to invest money in Intrade, the predictions market in Ireland? I am thinking particularly about the legality of transferring funds back from my InTrade account into my Chase bank account in the U.S. and declaring the winnings on my tax returns.
Answer
I do not know what Intrade is or how it is regulated, but normally a US citizen can invest in anything anywhere that it is not illegal to invest in. Among other things there may be State Department and/or Patriot Act and similar limitations. An accredited investment adviser here may be able to assist you in making these determinations.
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