The UK Gambling Commission has charged 15 people for their roles in an election betting scandal last year. The charges relate to placing bets using confidential/privileged information over the timing of the general election.
In 2024, the Conservative government announced in June that an election would be held a month later. One of those charged, Craig Williams, is a former Conservative MP. Williams confirmed to the media in May last year that he had placed a bet on an election taking place in July.
The Commission alleged that the bettors had advanced knowledge that the election would be called.
A statement on the Commission’s official website read, “The investigation, initiated in June 2024, focused on individuals suspected of using confidential information – specifically advance knowledge of the proposed election date – to gain an unfair advantage in betting markets. Such actions constitute an offence of cheating under Section 42 of the Gambling Act 2005, a criminal offence.”
The statement goes on to list the names of all 15 offenders who are due to appear in court in June of this year. The charges have been brought by the Commission despite an investigation by the Metropolitan Police being dropped.
The Conservative party has suspended all the members who were involved. A spokesperson for the party said, “Current members of staff who have been charged are being suspended with immediate effect,
“These incidents took place in May last year. Our party is now under new leadership and we are cooperating fully with the Gambling Commission to ensure that their investigation can conclude swiftly and transparently.”
Election betting controversy
The case indicates the difficulty of running election betting markets. The integrity of the election and the betting markets may both be brought into question.
In the US, election betting had been prohibited until last year when a federal judge ruled that Kalshi’s election prediction markets were legal.
“Election markets are now legal in the United States,” Kalshi cofounder Luana Lopes Lara said in a statement on social media. “It feels like a dream for us to say it. Infinitely honored and humbled to bring these markets back to the US after 100 years.”
Prediction markets continue to grow and attract interests from politicians. Donald Trump Jr. joined Kalshi after the election as an advisor. This week, a New Jersey governor candidate expressed support for election betting.
Betting in the UK
In the UK, most betting markets are fair game, but the Gambling Commission is quick to clamp down on any insider betting. There have been cases brought against tennis players, golfers, cricket players, and soccer players over claims of betting with privileged information.
The 2005 Gambling Act, which was referenced in this case, also prohibits running sweepstakes without a license. While sweepstakes and social casinos grow in the US, these rules make them less common in the UK.
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