Charges considered in election date betting scandal
Up to five people – possibly including a politician – could face prosecution in the betting scandal over the date of the general election, Sky News can reveal.
A source has told Sky News: “The Gambling Commission is looking to prosecute at least three suspects, but possibly up to five. This includes a politician and a close protection guard.”
It is understood that the commission is not yet at the point of making an announcement and a spokesperson said the commission would not comment on an ongoing investigation.
“We clearly appreciate the level of public interest there is in this ongoing investigation,” a commission spokesperson told Sky News.
“But to protect the integrity of the investigation and to ensure a fair and just outcome, we are unable to comment further at this time, including the name of any person who may be under suspicion, or the total number of suspects.
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The investigation is into whether people placed bets on a 4 July election as a result of inside knowledge in the days leading up to the then prime minister Rishi Sunak’s shock announcement of an early poll on 22 May.
The election date betting scandal began in June when Craig Williams, formerly MP for Montgomeryshire and Mr Sunak’s parliamentary private secretary, admitted he was being investigated by the Gambling Commission.
Mr Williams had placed a £100 bet on a July election at Ladbrokes in his constituency just days before Mr Sunak’s announcement. Based on odds at the time, he would have won £500.
“I put a flutter on the general election some weeks ago,” he said in a post on X on 13 June. “This has resulted in some routine inquiries and I confirm I will fully co-operate with these.”
Next, just a week before polling day, Sky News revealed that Mr Sunak’s Downing Street chief of staff Liam Booth-Smith was being questioned by the commission, the statutory body that regulates betting in the UK, as a witness, not a suspect.
Craig Williams admitted to betting on the election date. Pic: PA
And during the Conservative Party Conference eight weeks ago, Sky News revealed that former deputy prime minister Sir Oliver Dowden had become the most senior ally of Mr Sunak to be interviewed in the official investigation.
Both Mr Booth-Smith and Sir Oliver were questioned as witnesses.
In late August, the Metropolitan Police announced that their detectives had concluded their role in the ongoing criminal investigation, though the Gambling Commission’s investigation continued.
The commission’s investigation is into whether bets placed were in breach of Section 42 of the Gambling Act 2005 (Cheating). The Met had been looking into whether other offences, most likely Misconduct in Public Office, could apply.
The Met said that based on the assessment of the evidence and the advice from the Crown Prosecution Service, it was determined that the high bar for Misconduct in Public Office to be proven was not met.
Making the announcement, Detective Superintendent Katherine Goodwin said: “These allegations caused a significant dent in public confidence during the election campaign and it was right that they were investigated to explore all possible offences.
“While our involvement in the criminal investigation now ceases, it’s important that is not misinterpreted as an all clear for those whose cases were looked at.
“There are still Gambling Act offences to consider and it is appropriate that they are taken forward by investigators from the Gambling Commission who have particular expertise in this field.
“Seven police officers who are alleged to have placed bets are still among those being investigated by the Gambling Commission. They also remain under investigation by the Met’s Directorate of Professional Standards.”
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On the day of the Met’s announcement, 23 August, Andrew Rhodes, chief executive of the Gambling Commission, said: “We have remained focused on our criminal investigation into confidential information being used to gain an unfair advantage when betting on the date of the general election.
“Our investigation continues to progress and we have interviewed several suspects under caution. We are continuing to interview a number of witnesses, who are co-operating with this criminal investigation, as well as gathering further documentary and electronic evidence.”
On Monday, 17 June an officer attached to the Royalty and Specialist Protection Command, was arrested on suspicion of Misconduct in Public Office and later bailed.
No further action is being taken against him in relation to that specific offence.
Lawmakers in the US states of Minnesota and Alabama filed companion bills to identical existing bills that if passed into law, would allow each state to buy Bitcoin.
The Minnesota Bitcoin Act, or HF 2946, was introduced to the state’s House by Republican Representative Bernie Perryman on April 1, following an identical bill introduced on March 17 by GOP state Senator Jeremy Miller.
Meanwhile, on the same day in Alabama, Republican state Senator Will Barfoot introduced Senate Bill 283, while a bi-partisan group of representatives led by Republican Mike Shaw filed the identical House Bill 482, which allows for the state to invest in crypto, but essentially limits it to Bitcoin (BTC).
Twin Alabama bills don’t explicitly name Bitcoin
Minnesota’s Bitcoin Act would allow the state’s investment board to invest state assets in Bitcoin and other cryptocurrencies and permit state employees to add crypto to retirement accounts.
It would also exempt crypto gains from state income taxes and give residents the option to pay state taxes and fees with Bitcoin.
Source: Bitcoin Laws
The twin Alabama bills don’t explicitly identify Bitcoin, but would limit the state’s crypto investment into assets that have a minimum market value of $750 billion, a criterion that only Bitcoin currently meets.
26 Bitcoin reserve bills now introduced in the US
Introducing identical bills is not uncommon in the US and is typically done to speed up the bicameral legislative process so laws can pass more quickly.
Bills to create a Bitcoin reserve have been introduced in 26 US states, with Arizona currently the closest to passing a law to make one, according to data from the bill tracking website Bitcoin Laws.
Arizona currently leads in the US state Bitcoin reserve race. Source: Bitcoin Laws
Pennsylvania was one of the first US states to introduce a Bitcoin reserve bill, in November 2024. However, the initiative was reportedly eventually rejected, with similar bills also killed in Montana, North Dakota, South Dakota and Wyoming.
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Montana, North Dakota, Pennsylvania, South Dakota and Wyoming are the five states thathave rejected Bitcoin reserve initiatives. Source: Bitcoin Laws
According to a March 3 report by Barron’s, “red states” like Montana have faced setbacks to the Bitcoin reserve initiatives amid political confrontations between the Democratic Party and the Republican Party.
Additional reporting by Helen Partz.
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Update (April 3, 5:43 am UTC): This article has been updated to add information on the STABLE Act and GENIUS Act.
The US House Financial Services Committee has passed a Republican-backed stablecoin framework bill, which will now head to the House floor for a full vote.
The Committee passed the Stablecoin Transparency and Accountability for a Better Ledger Economy, or STABLE Act, with a 32-17 vote on April 2, with six Democrats voting in favor.
The bill was introduced on Feb. 6 by committee Chair French Hill and the chair of its Digital Assets Subcommittee, Bryan Steil — reportedly drafted with the help of the world’s largest stablecoin issue, Tether.
Source: Financial Services GOP
The bill would provide rules around payment stablecoins, a crypto token tied to a currency such as the US dollar, and aims to ensure issuers give information about their business and how they back their tokens.
During an earlier markup session, the committee’s leading Democrat, Maxine Waters, who later voted against the bill, criticized her Republican peers for “setting an unacceptable and dangerous precedent” with the STABLE Act.
She said President Donald Trump could use the bill to allow his family’s stablecoin to be used in government payments, and argued the bill validates Trump “and his insiders’ efforts to write rules of the road that will enrich themselves at the expense of everyone else.”
In late March, the Trump family’s World Liberty Financial crypto venture launched a stablecoin, World Liberty Financial USD (USD1). Meanwhile, the US Housing Department, which oversees social housing, was reportedly looking to experiment with using stablecoins for some of its functions.
Stablecoin GENIUS Act also weaves through Congress
Other stablecoin-related bills are also working their way through Congress, including the Republican-led Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, which lays out oversight and reserve rules for issuers.
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The US Senate Banking Committee voted through the GENIUS Act in an 18-6 vote on March 13, after Senator Bill Hagerty, one of the bill’s co-sponsors, updated it following consultation with the Committee’s Democrats.
Before the vote, Democratic Senator Kirsten Gillibrand said the updated GENIUS Act made “significant improvements to a number of important provisions” in areas such as consumer protections and authorized stablecoin issuers.
Both the STABLE Act and GENIUS Act will now wait until debate time on the floor of the House and Senate, respectively, before they head for a floor vote.
Crypto journalist Eleanor Terrett reported on X that two unnamed crypto lobbyists said there is likely to be “a coordinated push behind the scenes over the next few weeks to get the two bills to mirror each other, as there are still some differences between them.”
Doing so would “avoid having to set up a so-called conference committee which is formed so members from both chambers can negotiate to create a final version of the bill everyone agrees on,” she added.
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Tulip Siddiq has told Sky News her “lawyers are ready” to handle any formal questions about allegations she is involved in corruption in Bangladesh.
Asked whether she regrets apparent links with the Bangladeshi Awami League political party, Ms Siddiq said “why don’t you look at my legal letter and see if I have any questions to answer… [the Bangladeshi authorities] have not once contacted me and I’m waiting to hear from them”.
The London MP resigned as a Treasury minister in January after being named in several corruption inquiries in Bangladesh.
In her first public comments since leaving government, Ms Siddiq said “there’s been allegations for months on end and no one has contacted me”.
Last month, the interim leader of Bangladesh told Sky News the MP had “wealth left behind” in the country “and should be made responsible”.
Lawyers acting for Ms Siddiq wrote to the Bangladeshi Anti Corruption Commission (ACC) several weeks ago saying the allegations were “false and vexatious”.
The letter said the ACC must put questions to Ms Siddiq “by no later than 25 March 2025” or “we shall presume that there are no legitimate questions to answer”.
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Staff from the NCA visited Bangladesh as part of initial work to support the interim government in the country.
In a post online today, the former minister said the deadline had expired and the authorities had not replied.
Sky News has approached the Bangladeshi government for comment.
The allegations against Ms Siddiq are focused on links to her aunt Sheikh Hasina – who served as the prime minister of Bangladesh for 20 years.
Ms Hasina was forced to flee the country in August following weeks of deadly protests.
She is accused of becoming an autocrat, with politically-motivated arrests, extra-judicial killings and other abuses allegedly happening on her watch. Hasina claims it’s all a political witch hunt.
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Ms Siddiq was found to have lived in several London properties that had links back to the Awami League political party that her aunt still leads.
She referred herself to the prime minister’s standards adviser Sir Laurie Magnus who said he had “not identified evidence of improprieties” but added it was “regrettable” Ms Siddiq had not been more alert to the “potential reputational risks” of the ties to her aunt.
Ms Siddiq said continuing in her role would be “a distraction” for the government but insisted she had done nothing wrong.
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