Campaign staffers tell NPR they make 'thousands' betting on their own candidates
3 hours ago
- #campaign ethics
- #insider trading
- #prediction markets
- Campaign staffers report making thousands by betting on their own candidates using insider information from unreleased polls.
- Insider betting on prediction markets raises legal concerns, with potential violations of the Commodity Exchange Act for using non-public information.
- The CFTC's ability to regulate election insider trading is questioned, with calls for clearer laws amid a 'Wild West' environment in prediction markets.
- Recent actions include Kalshi banning and fining candidates for self-betting, and congressional steps to restrict insider betting by government officials.
- Despite insider trading cases and bipartisan bills, prediction markets operate with limited regulation, creating transparency and ethical gaps.