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.
Survivor host Jeff Probst apologized for inadvertently revealing part of the season finale, spoiling the results for many fans. Kalshi's markets had effectively predicted the show's winner seven months prior.
In a recent report by Reuters, prediction markets were highlighted once again, and specifically over suspicious trades that could be pointing to insider trading, the practise of obtaining and then using private and non-public information to influence outcomes of real-world events.
The Commodity Futures Trading Commission (CFTC) is partnering with Major League Baseball and other sports leagues to combat insider trading on prediction markets.
Staff working on political campaigns are using data they receive from polls to wager on prediction markets and win thousands of dollars.