[a_small_island]

>"Sand Hill began as two Silicon Valley entrepreneurs creating an online business involving the valuation of private startup companies in the region along the lines of a fantasy sports league. But Gerrit Hall and Elaine Ou changed their business model multiple times, and earlier this year Sand Hill evolved to invite web users to use real money to buy and sell contracts referencing pre-IPO companies and their value.

Sand Hill sought people to fund accounts using dollars or bitcoins. Hall and Ou did not ask users about their financial holdings or limit the offering to users with any specific amount of assets. In fact, they wrote on the Sand Hill website: “We accept everybody regardless of accreditation status.” Hall and Ou intended to pay users who profited from their contracts. "

Interesting. Hadn't heard of this. Here's the SEC link: https://www.sec.gov/news/pressrelease/2015-123.html