Spread-trading firm Intrade raises US$3.5m

5 May 2009

Intrade has recently raised a total of US$3.5m from its shareholders in equity finance to invest specifically in developing new markets.

Headquartered in Dublin, the company has over 100,000 users located in 126 countries worldwide.

Intrade is a trading platform that allows people trade for profit on markets related to art, business, weather, current events, entertainment, finance, politics and other categories.

The company’s core product is The Prediction Market, where members can buy and sell ‘shares’ in financial, political, weather and other important subjects. Traders can trade using real US dollars or business students can learn to trade using virtual Intrade dollars.

It has been featured on ABC, CNBC, CNN, Fox, The Wall Street Journal, The Financial Times and The New York Times, and has sponsored research at 50 major universities and graduate schools in Europe and the US.

It is considered the leading global platform in a new trading niche known as “

‘prediction markets’.

“This is a fantastic endorsement of our development plans that we have been able to secure the capital we need from our existing shareholders on very fair terms,” John Delaney, CEO of Intrade said.

By John Kennedy