Time to get rid of Instagram while you can. As of starting of January 2013, Facebook Instagram will start selling your photos and identity without your consent. The info can be found on Instagram update of its terms of service and privacy policies that will go into effect January 16 2013.
Here is the offending line from the policies:
To help us deliver interesting paid or sponsored content or promotions, you agree that a business or other entity may pay us to display your username, likeness, photos (along with any associated metadata), and/or actions you take, in connection with paid or sponsored content or promotions, without any compensation to you. You acknowledge that we may not always identify paid services, sponsored content, or commercial communications as such.
Facebook has purchased Instagram popular photo-sharing app for $1 billion in 2012.