One of the only places in America where it was more or less legal to place a wager on individual political elections is, apparently, not long for this world.

PredictIt.org – basically, an options market for elections – is based out of Victoria University of Wellington in New Zealand, and has been legally operating in America since 2014 under a “no-action” letter from the Commodity Futures Trading Division (CFTC), based out of Washington, D.C.

What that meant, essentially, is the CFTC allowed the university to run this betting market without fear of prosecution, provided individual wagers were limited to $850 and no more than 5,000 traders could engage in any single market.