By Bernie Becker - 11/27/12 12:28 AM EST
Intrade also said that it would not charge customers the standard $4.99 monthly fee at the beginning of next month.
The CFTC says that Intrade allowed customers to make unauthorized trades on the price of gold, other commodities and predictions about wars between 2007 and earlier this year.
In its lawsuit, the CFTC also says that both Intrade and TEN filed false financial forms, and that TEN disregarded a 2005 cease and desist order.
Intrade facilitates a wide range of bets, from its closely watched odds on this year's presidential election to predictions over the upcoming Academy Awards.