Wednesday June 3, 2020

Betting on better regulation

The collapse of the company that made its name through betting on the US presidential election has focused attention on the regulation of spreadbetting, writes Philip Connolly.

30th March, 2013
Betting on Obama: after making its name during the US presidential election, financial spreadbetting firm Intrade fell foul of the US Commodity Trade Futures Commission.


**Intrade:** The online prediction market ceased trading earlier this month due to circumstances that may include "financial irregularities", as payments of $1.2 million in 2010 and $1.39 million in 2011 to former director John Delaney emerged in the companies accounts.

**Worldspreads:** Last year, the Dublin-based firm, which operated mainly in Britain, collapsed when its board discovered a £13 million funds shortfall, owing clients £29.7 million with just £16.6 million to pay them.

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader



Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.



€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.




90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Share this post

Related Stories

The best writing and and the biggest stories of 2019 from the Business Post

Richie Oakley | 5 months ago

Denis O’Brien is back in court, residents continue to fight the Council on halting site and a row surfaces in government over rent control proposals

Leanna Byrne | 4 years ago