Prosecutors Probe Some Lucrative Prediction Market Bets: CNN

Federal prosecutors in Manhattan are exploring whether certain lucrative bets placed on prediction markets have violated insider trading and other laws, CNN reports, citing people familiar with the matter.

• Chiefs of the securities and commodities fraud unit of the US attorney’s office for the Southern District of New York recently met with representatives of Polymarket to discuss how existing laws could be applied to potential misconduct in the industry
• Prosecutors investigating lucrative trades, including the timing of the capture of Venezuelan leader Nicolás Maduro, CNN says, citing a source
• No companies accused of wrongdoing
• Nicholas Biase, a spokesman for the ...