Search results for Southern District of New York
Crypto
U.S. prosecutors charge Google engineer over insider trading in prediction markets
U.S. prosecutors have charged a Google software engineer with fraud and money laundering for allegedly using internal information to trade on prediction markets. The U.S. Attorney\'s Office for the Southern District of New York said Michele Spagnuolo used non-public Google “Year in Search” data accessible only to some employees to place bets on Polymarket. Investigators said he earned about $1.2 million and also profited from predicting the timing of the Gemini 3 release.
Crypto
Trump says prediction markets fall under CFTC jurisdiction, vows to defend U.S. crypto capital status
U.S. President Donald Trump publicly backed maintaining the Commodity Futures Trading Commission\'s exclusive authority to regulate prediction markets, calling such oversight essential. He also reiterated a stance of protecting the crypto industry, describing the United States as the global capital of cryptocurrencies including bitcoin. The comments come as disputes between federal and state authorities over prediction markets have escalated into lawsuits, with states arguing sports-related betting should be governed by state gambling laws.
Crypto
U.S. CFTC adds New York to lawsuit to block prediction market regulation
The U.S. Commodity Futures Trading Commission has filed a lawsuit against New York state over its move to regulate prediction market operators. In a complaint filed in the U.S. District Court for the Southern District of New York, the CFTC argued that authority to regulate related derivatives, including prediction market contracts, belongs to it under federal law. New York has sued Coinbase and Gemini, citing alleged violations of state gambling law.
