Prediction markets have quickly grown from a niche corner of finance to a multibillion-dollar industry with big Wall Street investment, but a growing list of insider trading allegations is bringing concerns about the platforms all the way to the White House.
The most significant development came on Thursday afternoon, when prosecutors announced charges against Gannon Ken Van Dyke, a US soldier who allegedly took advantage of classified intelligence to win more than $400,000 betting on the capture of Nicolás Maduro in Venezuela.
The indictment came not long after French authorities said that they were
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