Nous Global Markets confirmed today that it has been approved by the Isle of Man Gambling Supervision Commission to operate its ultra-low-risk fixed-odds financial betting application.

Justin Short, CEO of Nous, said:

“This is excellent news, not just for Nous but also for the millions of people who have been underserved by the financial industry. The Isle Of Man licence provides a very strong guarantee to our clients and is also great validation of our unique product.”

Mark Robson, Head of e-Gaming at the Department of Economic Development, commented:

“It is great to see Nous Global Markets attain an Isle of Man licence. On the Isle of Man we value innovation and it is testament to the safe and secure environment the Isle of Man provides that we can attract high quality companies to our Island.”

Nous says that it is now able to start connecting to payment providers and expects to start trials with selected customers in Q1, followed by global expansion over the year.

Nous Global Markets was founded in September 2012 by Justin Short and four other former Merrill Lynch traders and technologists. In January 2014, they launched their free-to-play virtual trading game?—?‘Spark Profit’?—?which enables players to predict financial market movements with no risk, in return for cash prizes. Spark Profit’s uniquely visual, beginner-friendly interface and weekly cash rewards have already attracted over 340,000 users in 200 separate countries.