Day 1b is done and we have our final 10 players. Young Oh is leading the pack with 604,000, which puts him atop both starting flights. The player known as DD had the chip lead ...
Intrade Sued By Feds Over Alleged Misconduct
Prediction Market Company Falls In Hot Water
Irish online betting firm Intrade, which takes action on a plethora of real-world events, has been sued by the federal government over its prediction market business.
The Commodity Futures Trading Commission has accused the firm of violating its “off-exchange options trading ban” and filing false forms.
The agency stated:
“It is against the law to solicit U.S. persons to buy and sell commodity options, even if they are called ‘prediction’ contracts, unless they are listed for trading and traded on a CFTC-registered exchange or unless legally exempt. The requirement for on-exchange trading is important for a number of reasons, including that it enables the CFTC to police market activity and protect market integrity. Today’s action should make it clear that we will intervene in the ‘prediction’ markets, wherever they may be based, when their U.S. activities violate the Commodity Exchange Act or the CFTC’s regulations.”
Intrade said on its website that the suit doesn’t “signal the end” of its U.S. business.
The CFTC is seeking money. There is no criminal component to the case.
Intrade was recently active during the United States presidential election, taking bets from Americans. Election results have become a fun numbers game for some, as The Wall Street Journal points out, spawning the stardom of New York Times blogger Nate Silver.
|1||Doug Polk Calls Out Daniel Negreanu|
|2||Hansen, Blom No Longer With Full Tilt Poker|
|3||Casino Heist Remains Unsolved 22 Years Later|
|4||Gambling Site: 2014 WSOP Main Event Betting Odds|
|5||Ray Coburn Wins DraftKings Millionaire Maker|
|6||NJ Busts Mob-Run Sports Gambling Ring|
|7||Negreanu, McClelland To Be Inducted Into HoF|
|8||Poker Hand of the Week: What's Your Play?|
|9||Scott Davies Wins 2014 WSOP APAC Main Event|
|10||Increase Win Rate With New Video Series|
|1||Judge: Poker Pro Phil Ivey Cheated At London Casino|
|2||WATCH: Man Cracks Opponent's Aces, Rubs It In|
|3||Phil Ivey's Rough Week Continues|
|4||Doug Polk Calls Out Daniel Negreanu|
|5||HoF Nominees Trade Barbs Over $1.8M Prop Bet|
|6||Iowa Police Steal $100K From Poker Players|
|7||Phil Ivey Gives Interview To 60 Minutes|
|8||Poker Pro Matt Smith Wins DraftKings Millionaire Maker|
|9||2014 WSOP Main Event ESPN TV Schedule|
|10||Phelps Was Gambling Right Before DUI|