Sport Pilot Talk

I found nothing in the FARs that says ultralights can't fly out of the U.S. so is it possible that I could fly an ultralight out of the U.S. and say to the Bahamas or Canada?

The FARs are federal (United States) regulations and don't address what you can not do in other countries.

I have seen people take there ultra-lights to Mexico, even fat 2 seated versions. I had one friend who used to make money selling rides on the beach in Baja.

It would be up to the individual country.