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Federal Court In District Of Columbia Orders “Prediction Market” Companies To Pay $3 Million Civil Monetary Penalty For Illegally Trading Binary Options And Violating A 2005 CFTC Cease And Desist Order

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The Commodity Futures Trading Commission (CFTC) today announced that on July 5, 2018, Senior Judge Royce C. Lamberth of the U.S. District Court for the District of Columbia issued an Opinion and Order (Order) against Defendants Intrade The Prediction Market Limited (Intrade) and Trade Exchange Network Limited (TEN), Irish companies based in Dublin, Ireland, requiring them to pay, jointly and severally, a $3 million civil monetary penalty for violations of the Commodity Exchange Act (CEA) and CFTC Regulations.

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