U.S. senators have been barred from prediction market trading. According to a recent report by The Block, the U.S. Senate unanimously passed the resolution, S. Res. 708.
The resolution focuses on blocking illegal trading using inside information. In January, a Polymarket account earned $400,000 by betting that Venezuela President Nicolas Maduro would step down from power by the end of this month, raising suspicions the wager may have used inside information.
Prosecutors recently arrested active-duty U.S. Army soldier Gannon Ken Van Dyke (개넌 켄 반 다이크), 38, on allegations he used classified information to place bets there. Van Dyke is claiming innocence.
Major prediction market platforms are also already moving to block insider trading. New York and Illinois issued executive orders in recent days banning state officials from using non-public information for prediction market bets. Kalshi founder Tarek Mansour (타렉 만수르) called it a "great first step" and said, "Now let's get it passed in the House as well."
Chi-gyu Hwang
delight@d-today.co.kr