The online betting site, Intrade, abruptly shut down on Sunday citing “financial irregularities” that the website is investigating. According to the Los Angeles Times on Monday, March 11, 2013, all trades were immediately halted and ceased all banking transactions for customers. This is not good news for the many Intrade members who have placed bets with this cite based in Ireland.
Intrade posted a statement on their website Sunday announcing the halting of the trades and that they've immediately stopped all banking transactions to customers, which was better than just shutting down leaving folks scratching their heads. They also said that Intrade members will not receive any payments until the investigation is complete.
This virtual gambling house takes bets on everything from the gender of Kate Middleton's baby to who the next pope will be. It was last year when the U.S. Commodity Futures Trading Commission filed a civil complaint against Intrade in a federal court. The action that they took resulted in U.S. Residents being blocked from using this website.
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