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Insider trading charges leave prediction market critics unsatisfied

Business Insider·Bryan Metzger·about 1 month ago
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Insider traders are getting caught. It's still not enough for prediction market critics. "I mean, we just shouldn't have gambling around issues of war and peace," Democratic Rep. Greg Casar of Texas said. Stefani Reynolds/Bloomberg via Getty Images Insider traders on both Kalshi and Polymarket have been caught recently. But the prediction market industry's critics on Capitol Hill still say they want a crackdown. AOC said that enforcement actions were being taken to "preempt any federal action." If you thought nabbing a few insider traders would quell politicians' concerns about prediction markets, think again. "I don't think it's enough," Democratic Rep. Alexandria Ocasio-Cortez of New York said. "I think there's a lot of work that we have to do on prediction markets." Last month saw several high-profile cases of prediction market insider traders getting caught.…

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