Intrade Facing Liquidation Due To $700,000 Cash Shortfall

Posted by Milton Recht:

From Intrade:

We have now concluded the initial stages of our investigations about the financial status of the Company, and it appears that the Company is in a cash "shortfall" position of approximately US $700,000 when comparing all cash on hand in Company and Member bank accounts with Member account balances on the Exchange system.

If the Company is not able to rectify this cash shortfall position very quickly, the Company will become insolvent and therefore is very likely to go into liquidation.

Intrade US election prediction markets were more accurate than the US election polling organizations and election experts.