The news, distilled into what matters.
Opinion - Prediction markets are out of control — Congress must act to ban insider trades now
- A U.S. soldier, Gannon Ken Van Dyke, was charged with using secret government info to profit more than $400,000 on a prediction-market bet tied to a Venezuela operation, spotlighting insider-trading risks.
- Other worrying trades — like candidates betting on their own races and an anonymous user making $300,000+ on pardons — have left the public uneasy about money influencing politics.
- Lawmakers and watchdogs are pushing bans on federal officials trading on prediction markets, clearer laws and tougher CFTC enforcement, and outright prohibitions on bets about deaths, elections and military actions.
Read full article
Get the full experience in the app — topics, comments, and audio summaries.