Business of the House

Betting firm Football Index is now in administration, with its licence suspended by the Gambling Commission amid reports that the firm operated like a pyramid scheme and had been admonished by the Advertising Standards Authority in 2019 for creating the impression that the product was a lucrative investment opportunity. Clearly, concerns over how Football Index was raising money have been ongoing, and this has raised serious questions about how fit for purpose the Gambling Commission is, having licensed the platform. Will the Leader of the House make a statement on what can be learned from this episode and what more can be done to ensure that regulation of the betting industry is fit for purpose to protect consumers who collectively have £98 million trapped in Football Index, and will he support a public inquiry into this scandal?