Police will not pursue any charges of misconduct in public office against political figures who potentially used inside information to bet on the general election debate, they have announced.

A Metropolitan police statement said, however, that the Gambling Commission would continue to look into whether any possible offences had been committed under the Gambling Act, which is overseen by the betting watchdog.

The investigation began after the Guardian revealed that Craig Williams, who was Rishi Sunak’s parliamentary private secretary was a Tory MP before losing his seat in July, placed a £100 bet on a July election three days before the prime minister named the date.

More details soon …