US Health Care Individual Mandate to be Ruled Unconstitutional Say Gamblers

Written by:
Gilbert Horowitz
Published on:
Jun/26/2012
US Health Care Individual Mandate to be Ruled Unconstitutional Say Gamblers

75 percent of gamblers at intrade.com believe The US Supreme Court will rule individual mandate unconstitutional before midnight ET 31 Dec 2012.

Intrade bills itself as a “marketplace for the exchange of predictions on uncertain future events often called ‘prediction markets’.”  The site notes that, “when you make a prediction, it facilitates the aggregation of crowd wisdom into predictive probabilities”.

The high court will render its much anticipated decision on Thursday.

The individual mandate, the law's backers say, is needed to cover 33 million uninsured people, but it's also a requirement that polls say most Americans want to see thrown out, Tom Brune of Newsday.com writes

With Justice Antonin Scalia stating that the individual mandate is the “heart” of the health care law (also widely referred to as “Obamacar”), there is a change the entire law could be struck down.

"If you take the heart of the statute out, the statute is gone,” he said. 

White House spokesman Jay Carney noted its significance.

"The individual mandate is a hugely important component to the Affordable Care Act because it is what allows for, in many ways, coverage of those with pre-existing conditions and others who might otherwise not be able to get insurance,” Carney said.

American Health Insurance Plans, a trade group, said without a mandate, the country should expect "higher insurance costs and millions of more people without access to affordable care."

Only 8 million to 23.1 people would gain coverage without the individual mandate.  With it, some 33 million Americans would be insured. 

Critics of the individual mandate claim such a requirement will prove too costly and intrusive.   The Republicans have argued vigorously that the US Government should not force Americans to buy a product. 

- Gilbert Horowitz, Gambling911.com

Politics News

Trump Odds to Get Re-Elected in 2020 Get Even Shorter Despite Omarosa Spat

BetOnline says its odds on Donald Trump to be re-elected in 2020 were now at -130.

Kamala Harris Favorite to be Democratic Nominee in 2020

Kamala Harris Favorite to be Democratic Nominee in 2020

Kamala Harris is the slight +450 favorite to be the Democratic nominee for President in 2020, according to oddsmakers at BetOnline.

Prominent Political Donor Helps Pornographers and Offshore Gambling Operations

Prominent Political Donor Helps Pornographers and Offshore Gambling Operations

The Chicago Tribune Thursday reported that political donors for both the current U.S. President Donald Trump and his Democratic opponent Hillary Clinton once worked on behalf of offshore gambling operations, payday loan and pornographers.

Augur Blockchain Bets Placed on Trump Assassination Leave Regulators Powerless to Act

Augur Blockchain Bets Placed on Trump Assassination Leave Regulators Powerless to Act

The so-called "Silk Road of Gambling", blockchain gambling platform Augur launched earlier this month. The “prediction market protocol” built on the ethereum blockchain permits gamblers from around the globe to create markets on just about anything, including the assassination of U.S. President Donald Trump. Regulators, meanwhile, may have little way of preventing this type of wagering.

Bookmaker Shortens Odds on Trump Impeachment After Putin Summit

Irish betting site Paddy Power has cut US President Donald Trump's odds of being impeached from 8-1 to 2-1 Tuesday.

Syndicate