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.

Bulletin

**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.

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