Facing pressure from U.

The announcement comes after the Commodity Futures Trading Commission filed a civil complaint against the Dublin, Ireland-based operators of Intrade, an online prediction market. The CFTC charged Intrade and its parent company, Trade Exchange Network Limited, with violating a ban on options trading and making false statements in official filings. The company advised U. Intrade is a website where users buy and sell contracts that allow them to predict whether a certain outcome will occur, such as the winner of presidential elections, specific acts of war and weather events.

But according to the CFTC, Intrade and TEN also allowed U. Betting on politics - and getting it right. The CFTC also claims that Intrade and TEN made false statements in regulatory filings regarding its options offerings and violating a cease and desist order, according to the complaint.

The Commission's lawsuit, which was aided by the Central Bank of Ireland, seeks monetary penalties, disgorgement of ill-gotten gains and permanent injunctions against the companies. Ben Rooney is a staff writer for CNNMoney.

He covers the European debt crisis and other international finance stories, in addition to writing about stocks, bonds, investing and other Wall Street-related news. Follow Ben on Twitter: The Buzz All markets and investing news all the time.

Betting on politics - and getting it right The CFTC also claims that Intrade and TEN made false statements in regulatory filings regarding its options offerings and violating a cease and desist order, according to the complaint. CFTC , futures , intrade , prediction market. Markets shrug off China stimulus.

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