The Irish company behind TradeSports and Intrade established a US subsidiary, whose aim is to become the first trading and betting exchange to be regulated by the Commodity Futures Trading Commission.
Subject to CFTC\’s regulatory approval, the new exchange will allow members to trade innovative contracts, such as binary options on subjects like economic indicators and financial indices, that are currently not provided for on traditional futures exchanges.
“Naturally we\’re very excited about the opportunity to offer unique contracts on a regulated platform. We\’ve always believed that regulation was important to traders. We are very pleased to have the opportunity now to offer such a regulated platform in the not too distant future,” said John Delaney, CEO of Trade Exchange Network.