The US Government Launched 3 Previously Unreported Investigations of Polymarket Trades
The US government has launched three previously unreported investigations into trading activities on the prediction market Polymarket. The probes focus on potential insider trading related to political pardons and geopolitical events.
Why it matters
These investigations signal increased regulatory scrutiny of prediction markets as they become more influential in political and financial discourse.
The US government launched at least three previously unreported investigations into trading on the prediction market Polymarket, according to documents obtained by WIRED through a Freedom of Information Act request.
Voting records from the Commodity Futures Trading Commission, the federal agency that regulates prediction markets, shed new light on how the government approaches these investigations. In early May, CFTC Chairman Michael Selig approved an order allowing the agency’s enforcement division to launch a private investigation into potential insider trading on Polymarket events contacts related to pardons issued by former President Joseph Biden. The order granted permission to take testimony, obtain subpoenas, administer oaths, and require the production of documents in the course of the investigation.
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