I would like to run a small contest for my site where the winner gets a small prize say a coin worth $50 . Idea would be to have those who sign up for a affiliate that has a stock picking contest compete against me in the contest. The person who registers through me and has the highest total wins. Like the idea just not sure of legal headaches.
This is usually regulated on a state by state basis in the US. If you are US -based, you should contact a local attorney and have them do the research. Good luck...