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Federal Probes Prediction Markets for Insider Trading
Description
Federal regulators and prosecutors are scrutinizing suspicious activities on prediction markets, focusing on bets related to political events and military operations. The Commodity Futures Trading Commission (CFTC) is investigating platforms like Kalshi and Polymarket, following a soldiers arrest for allegedly betting on Venezuelas leaders downfall. The CFTC is also pursuing a civil lawsuit against him. The investigations are led by the CFTC and the Manhattan U.S. Attorney’s Office, facing legal and practical challenges due to the lack of specific rules for prediction markets.
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