McCain Supporter Spends Hundreds Of Thousands To Distort Intrade Market

11/17/2008 05:12 am ET | Updated May 25, 2011
  • CQ Politics

An internal investigation by the popular online market Intrade has revealed that a single investor's purchases prompted "unusual" price swings that significantly boosted the prediction that Sen. John McCain will become president.

Over the past several weeks, the investor has pushed hundreds of thousands of dollars into one of Intrade's predictive markets for the presidential election, the company said, resulting in repeated monetary losses through a strategy that belies any financial motive.

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