""Unfortunately, there is a myth in the mainstream media and social media that insider trading law doesn't apply in the prediction markets. That is wrong," Miller said."
""I have done a lot of work in insider trading matters both as a prosecutor and as a defense attorney, and I take insider trading extremely seriously," Miller said."
""We will aggressively detect, investigate, and, where appropriate, prosecute insider trading in the prediction markets.""
The Commodity Futures Trading Commission is focusing on curbing insider trading in prediction markets, particularly Polymarket and Kalshi. David Miller, the new director of enforcement, emphasized that insider trading laws apply to these markets. Recent incidents of users making significant bets before geopolitical events have raised concerns. Miller, with extensive experience in insider trading matters, stated that the agency will actively detect and prosecute such activities. Other priorities include addressing market manipulation, disruptive trading, retail fraud, and compliance with anti-money laundering laws.
Read at Fortune
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