are these legal for US residents? other than the sports, i see no difference between them and hedgestreet.com
(1) You might find them to be very illiquid. (2) If you earn money, will you report the gains to the IRS? What if you lose money? Will you attempt to write it off?
No, not legal, thats why you cannot fund from US via credit card and ACH is not functional. Difference between them and Hedgestreet is that Hedgestreet is in the US, and regulated by the CFTC. Whether or not you find them liquid depends on how much volume you are trading.
Has anyone every used HedgeStreet.com? It looks pretty interesting (I never even heard of it until i read this post)...initially, I thought it was just a scam, until i saw the news release that SIG & DRW are 'making markets' in their products. What are the thought from people that have traded their products?
Range of products is kind of small, but they are certainly expanding. Can be fun to trade, but the spreads are pretty wide at times. Watch the daily crude contracts tomorrow. Pretty interesting to watch some of them go from $5 to $100 in a day. Also interesting is when you are close to expiration, and the underlying is hovering right around a strike price.