Two dozen Pennsylvania state representatives are endorsing the latest legislative effort to ban insider trading on prediction markets following high-profile cases alleging ill-gotten profits.
Arizona’s Katie Hobbs is the latest state governor to issue an executive order to ban government employees from insider trading on prediction markets.
The prediction market operator Kalshi has introduced new job detail requirements for certain users. The firm aims to prevent insider trading and restrict certain individuals from engaging in sensitive trades.
George Santos is reportedly under investigation for trading on whether he would attend the State of the Union address in February at Kalshi.
Survivor host Jeff Probst apologized for inadvertently revealing a season finale spoiler, where a contestant would exit the show. Kalshi's markets had essentially predicted the winner seven months prior.
The Commodity Futures Trading Commission (CFTC), a top US financial regulator, is partnering with Major League Baseball and other sports leagues to stop insider trading on prediction markets.
A group of federal representatives asking for an inquiry into prediction markets Tuesday, while the Commodity Futures Trading Commission (CFTC) once again threw its weight behind the operators in state court.
