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.

Subscribe from just €1 for the first month!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Share this post

Related Stories

The year in review

Newsround: What Thursday’s papers say