CFTC Enforcement Chief Issues Explicit Warning: Insider Trading Laws Apply to Prediction Markets
CFTC: Insider Trading Laws Do Apply to Prediction Markets
Prediction markets aren't a free-for-all. David Miller, head of enforcement at the CFTC, says insider trading laws apply just as they would anywhere else. Regulators are watching—and they'll go after violators.
He pushed back on what he called a "misunderstanding" floating around mainstream and social media that insider trading rules don't apply to prediction markets. That's wrong, he said. The CFTC will use its prosecutorial discretion to focus on cases involving stolen information or leaks, Miller added.
Major prediction platforms like Kalshi and Polymarket have already rolled out new insider trading rules. US lawmakers have also introduced bills aimed at curbing insider trading by government officials.
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