U.S. senators ban themselves from prediction markets trading
The move came after Democratic lawmakers asked the Commodity Futures Trading Commission to prohibits event contracts on elections, war and military actions.
Opening excerpt (first ~120 words) tap to expand
The U.S. Senate on Thursday unanimously passed a rule barring senators from trading on prediction markets effective immediately.The move came amid rising concern about insider trading on prediction market platforms such as Kalshi and Polymarket, and about event contracts that can involve death or violence.On April 22, Kalshi said it had suspended and fined one U.S. Senate candidate and two candidates for the House of Representatives for political insider trading on their own campaigns.On April 23, a U.S. Army Special Forces soldier, Master Sgt. Gannon Ken Van Dyke, was arrested on an indictment accusing him of classified information to make bets on Polymarket related to the American military mission that captured Venezuelan leader Nicolás Maduro.
Excerpt limited to ~120 words for fair-use compliance. The full article is at CNBC — Top.
Discussion
0 commentsMore from CNBC — Top
