REPORT: Two Legendary Hedge Fund Managers Were Both Investors In InTrade

Reuters/Andrew Kelly

This is something we didn't know before about InTrade, the events betting site that announced yesterday that it was shutting down...

Legendary billionaire hedge fund managers Paul Tudor Jones and Stan Druckenmiller were both investors in Intrade as of 2011, the Financial Times reports citing audit documents.

From the FT:

The documents also revealed that the company’s shareholders in 2011 included hedge fund managers Paul Tudor Jones and Stanley Druckenmiller, and a trust connected to Christopher Hehmeyer, the current chairman of the National Futures Association, a US regulatory body. None of the shareholders could be reached for comment yesterday.

Intrade, a popular Dublin-based internet betting exchange for things like the presidential election to the papal conclave, halted its operations and froze customer accounts yesterday after it discovered possible financial irregularities.

It's not clear whether Druckenmiller or Jones remain shareholders.