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Stock photo: closeup of businessman hands touchpad in meeting
Stock photo: closeup of businessman hands touchpad in meeting
(Shironosov/Photos.com)

BREAKINGVIEWS

Intrade didn’t see its own demise coming

Reuters Breakingviews delivers agenda-setting financial insight. Its global correspondents react to stories as they develop, delivering sharp and provocative commentary on big financial news as it breaks.

Intrade sheds light on how quickly gray markets can go dark. The site, which took bets on everything from elections to oil prices to its own demise, was abruptly shuttered on Sunday. While Intrade’s predictive record was good, it didn’t foresee the rising controversy over under-regulated speculation. It’s a cautionary tale for others operating in a somewhat shadowed zone.