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These prediction markets, Polymarket and Kalshi being the two biggest ones, are Pandora's boxes. They lead to all sorts of potential problems, including the temptation of people who have sensitive inside information to then go use it and try to cash in.
Gannon Ken Van Dyke allegedly betrayed his fellow soldiers by utilizing classified information for his own financial gain, according to FBI Assistant Director in Charge James C. Barnacle Jr.
The measure, known as Senate File 2494, is aimed at event-driven contracts and the online platforms where people buy and sell them. Lawmakers are pitching it as a way to bring structure and oversight to prediction-style markets that have grown exponentially in the past two years.
Robinhood UK President Jordan Sinclair stated that the company is very focused on market abuse and insider trading, emphasizing that not all prediction markets are offered to customers.
