July 19, 2018

A federal court in Washington, DC has ordered two Irish companies, Intrade the Prediction Market Limited and Trade Exchange Network, to pay $3M in penalties relating to the two companies permitting US customers to trade over 5,000 binary options on off-exchange options platforms, as outlawed by the CFTC. Trade Exchange Network was also in violation of a 2005 cease and desist order issued by the CFTC. CFTC

Tagged in: Fraud in CFTC-Regulated Markets, Regulatory Violations,