Governance & Leadership
How we oversee the business, manage risk, and maintain the trust of our shareholders and customers.
Leadership
Smarkets is founder-led, with strategic input from our institutional investors.
Jason Trost
Founded Smarkets in 2008 with the thesis that prediction market pricing could outperform traditional bookmaking. Previously worked in trading. Leads the company's long-term strategy, product vision, and technology direction.
Jason Wolfe
Represents Susquehanna Growth Equity, the growth-stage investment arm of Susquehanna International Group. Managing Director and General Counsel at SGE, where he leads deal structuring, legal due diligence, and execution. Previously an M&A attorney at Skadden, Arps and Jones Day.
Robert Dighero
Co-founder of Passion Capital, London-based early-stage venture firm. Has served with Smarkets since the company's earliest funding rounds, providing strategic guidance through multiple phases of growth.
Governance Principles
As a private company, we are not required to comply with a formal corporate governance code. We choose to operate with the transparency and discipline that we believe our shareholders, regulators, and customers expect.
Oversight
Leadership meets regularly to review financial performance, strategic direction, risk management, and regulatory compliance. Major capital allocation decisions, new market entries, and senior appointments require leadership approval.
Regulatory compliance
Smarkets holds licenses in 5 jurisdictions. Each license imposes its own governance, reporting, and operational requirements. Our compliance function reports directly to leadership on regulatory matters, and we maintain ongoing dialogue with every regulator under which we operate.
Risk management
We operate an internal risk framework covering market risk (through Hanson's automated position management), operational risk (infrastructure resilience, business continuity), credit risk (customer deposits), and regulatory risk (license conditions, jurisdictional changes).
Financial controls
Smarkets Limited files audited annual accounts with Companies House in accordance with the Companies Act 2006 and applicable UK accounting standards. Our accounts are audited by an independent external firm. Annual reports from 2015 onwards are available on our investors page.
Transparency
We publish our financial performance externally, and aim to be straightforward with shareholders, employees, and customers about how the business is performing and where it's headed.
Shareholder rights
As a private limited company, our shareholder base is composed of the founding team, employees with vested equity, individual investors and institutional investors. Shareholders receive regular updates on financial performance and material business developments, and have the rights and protections afforded under the Companies Act 2006.
Responsible Trading
As an operator licensed by the UK Gambling Commission and other regulators, responsible trading is a core obligation, not an afterthought.
Our approach
We design our products to give customers control. SBK and the Smarkets exchange both include deposit limits, self-exclusion tools, reality checks, and account activity statements. We participate in GAMSTOP (the UK's national self-exclusion scheme) and share data with the Gambling Commission as required.
Our prediction market model is structurally different from traditional bookmaking: we don't ban winners. On the exchange, we match buyers with sellers and charge a small commission. This means our commercial incentives are aligned with sustainable, long-term customer activity rather than maximising individual losses.
For more information, see our responsible betting resources (opens in new tab) or contact support@smarkets.com.
Code of Conduct
Smarkets expects all employees, directors, and contractors to act with integrity, comply with applicable laws and regulations, and treat colleagues, customers, and partners fairly.
Anti-bribery & corruption
We maintain a zero-tolerance policy toward bribery and corruption in line with the UK Bribery Act 2010. All employees receive training on anti-bribery obligations, and our compliance team monitors for potential violations.
Anti-money laundering
As a licensed betting operator, we are subject to the Money Laundering Regulations 2017 and the Proceeds of Crime Act 2002. We operate a risk-based AML program including customer due diligence, transaction monitoring, and suspicious activity reporting to the National Crime Agency.
Data protection
We process personal data in accordance with the UK General Data Protection Regulation (UK GDPR) and the Data Protection Act 2018. Our privacy policy is publicly available and we maintain a data protection officer function.
Questions about governance?
For governance inquiries, contact our investor relations team.
investors@smarkets.com