White House aides got an email last month telling them not to place bets on prediction markets with nonpublic information, multiple administration officials told CBS News. It was sent March 24, according to two White House officials. The email from the White House Management Office, which was obtained by CBS News, states: “Recent press reports … Read more
NEW YORK — Calls are increasing inside Congress for investigations into the prediction market platform Polymarket after the latest instance where groups of anonymous traders made strategic, well-timed bets on a major geopolitical event hours before it occurred. On Wednesday, The Associated Press reported that at least 50 brand new accounts on Polymarket placed substantial … Read more
A flurry of bets made prior to major announcements about the Iran war has ramped up speculation that individuals or groups with advance knowledge of U.S. military plans are cashing in on insider information. And while prediction market platforms Polymarket and Kalshi now say they are taking more proactive measures designed to prevent such illicit … Read more
Polymarket is moving to quash insider trading as prediction markets face scrutiny over whether some users draw on classified or other closely held information to gain an edge in betting on events. The New York-based company said Monday that it has updated its rules to prohibit trades based on “stolen confidential information” or illegal tips. … Read more
Wagers on popular prediction markets tied to the fate of Iranian Supreme Leader Ayatollah Ali Khamenei and the timing of U.S. military strikes in the country are drawing scrutiny over possible insider trading and the ethics of betting on death. Users of Kalshi and Polymarket have flocked to the platforms in recent weeks to wager … Read more