In this contribution we present a decentralized power allocation algorithm for the uplink interleave division multiple access (IDMA) channel. Within the proposed optimal strategy for power allocation, each user aims at selfishly maximizing its own utility function. An iterative chip by chip (CBC) decoder at the receiver and a rational selfish behavior of all the users according to a classical game-theoretical framework are the underlying assumptions of this work. This approach leads to a power allocation based on a channel inversion policy where the optimal power level is set locally at each terminal based on the knowledge of its own channel realization, the noise level at the receiver and the number of active users in the network.