Rishi Sunak has refused to say if he told one of his closest parliamentary aides the date of the election before he placed a bet on it.
Speaking to broadcasters, the prime minister insisted he was "furious" when he first learned about the allegations.
He added "if anyone is breaking the rules, they should face the full consequences of the law, whether that's the Gambling Commission or the police."
Craig Williams, who has been suspended as the Conservative candidate in Montgomeryshire and Glyndwr, admitted he "committed a serious error of judgment" but "not an offence" and declared he would continue to fight to win his seat.
The other candidates for Montgomeryshire and Glyndwr are:
Jeremy Brignell-Thorp, Green Party;
Oliver Lewis, Reform UK;
Glyn Preston, Liberal Democrats;
Elwyn Vaughan, Plaid Cymru;
Steve Witherden, Labour.
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