Dems Question CFTC Chair on Insider Trading in Prediction Markets

Lawmakers Urge CFTC Crackdown on Offshore Prediction Markets

After months of criticism over controversial prediction markets tied to war and U.S. military operations, some lawmakers are now turning their attention to offshore platforms operating beyond the reach of U.S. regulators. In a letter sent this week, Massachusetts Reps. Seth Moulton and Jim McGovern, as well as other Democratic lawmakers, urged the Commodity Futures Trading Commission (CFTC) to take action against platforms like Polymarket, argui…

Dems Question CFTC Chair on Insider Trading in Prediction Markets

A bipartisan group of seven House members has formally pressed the Commodity Futures Trading Commission (CFTC) to account for its approach to insider trading in prediction markets and event contracts tied to geopolitical events. In a letter to CFTC Chair Michael Selig, the lawmakers argued that the agency wields clear authority under the Commodities Exchange Act to prevent evasion of the act’s underlying swap provisions, signaling support for Se…