All posts tagged "Prediction Markets"

The Trump White House is scrambling to ensure hundreds of aides aren't using inside information to get rich on prediction market bets, the Wall Street Journal reported Saturday.

White House lawyers have been frantically grilling insiders ever since five anonymous Polymarket accounts made big bets that President Donald Trump and Iran would reach an initial ceasefire by the end of April, the Journal reported.

"Alarm bells went off inside the White House Counsel’s Office earlier this year," the Journal stated. "Senior officials privately raised concerns that the users may have leveraged inside information to secure an easy payday on the prediction market."...

Republican insiders watching President Donald Trump's grip on power slip ahead of the midterms have started to use burner phones while it's believed that some staffers are wagering on prediction markets, according to a report.

Polymarket, an online prediction market platform, has suggested as of Tuesday that Democrats have an 84 percent chance of taking control of the House and 51 percent chance of winning back the Senate, The i Paper reported. Democrats need three House seats and four Senate seats to flip Congress to blue.

Trump's dropping approval rating and the Iran war have left Republicans increasingly concerned about November. ...

Federal prosecutors were determining if prediction market bets have violated insider trading laws, according to a CNN report Monday.

The heads of the securities and commodities fraud unit in the U.S. attorney's office for the Southern District of New York reportedly met with Polymarket representatives to learn more about how existing laws could be interpreted as part of an investigation into possible misconduct.

Polymarket is one of the leading prediction betting platforms in the growing industry and follows the Department of Justice's inquiry over potential lucrative trades that happened around the capture and arrest of Venezuelan President Nicolás Maduro on Jan. 3. ...