US EditionCFTC Top Cop Warns Against Insider Trading on Prediction Markets
- David Miller, the enforcement chief of the Commodity Futures Trading Commission, warned that insider trading on prediction markets is illegal and can result in lawsuits or prison time.
- Miller plans to hire more staff to investigate and prosecute insider trading cases, particularly on platforms like Kalshi and Polymarket.
- Prediction markets allow Americans to legally bet on events such as sports, operating as financial swaps even in states without legalized sports betting.
- Miller stated that insider trading is a top enforcement priority along with market manipulation, fraud, and regulatory violations, and refuted claims that such trading is acceptable on prediction platforms.
13 Articles
13 Articles
A federal regulator said he's coming for insider traders in prediction markets
Bloomberg/Getty ImagesInsider trading on Kalshi, Polymarket and similar platforms is illegal, a regulator said.CFTC enforcement chief David Miller pushed back on the idea that insider trading is beneficial.He said he plans to hire more staff to bring cases.Insider trading on prediction markets is illegal and could get perpetrators sued or land them in prison, the top enforcement lawyer at the Commodity Futures Trading Commission said Tuesday.Dav…
CFTC Says Prediction Markets Are Derivatives, Not Gambling - and Insider Trading Laws Apply
The U.S. Commodity Futures Trading Commission (CFTC) has made its position clear: prediction market contracts are financial derivatives, not gambling, and insider trading laws apply accordingly.Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!)In his first public remarks as Enforcement Director, David Miller addressed what he described as a persistent misconception that insider trading rules do not apply to pre…
Coverage Details
Bias Distribution
- 67% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
