Intrade Boots US Customers After Being Hit With CFTC Suit

Law360, New York (November 26, 2012, 7:42 PM EST) -- Popular online trading exchange website Intrade the Prediction Market Ltd. said Monday it would no longer do business with U.S. customers, after being hit with a suit from a U.S. regulator that alleges the company allowed illegal trading by U.S. residents.

Hours after Intrade and its Dublin-based parent Trade Exchange Network Ltd. were hit with the CFTC’s action in Washington, D.C., federal court, Intrade said on its website that because of “legal and regulatory pressures” it could no longer allow U.S. residents to participate in its...
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