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The White House warned staffers not to use insider information to place bets on prediction markets as critics grow suspicious of lucrative trading activity around the Iran war. A White House official confirmed to The Post that the warning was sent to all staffers in an email from the White House Management Office on March […]
Minutes before Donald Trump posted a market-moving message on Iran, trading volumes in S&P 500 futures and oil markets suddenly surged. The spike was sharp, concentrated, and unusually well-timed. To outside observers, it raised an obvious question. Was this some kind of fluke, sharp analysis, or something closer to inside information? 🇺🇸 Just minutes before […]
California Gov. Gavin Newsom on Friday banned state-appointed officials with insider information from making bets on prediction markets as the popular gambling sites stoke controversy. The executive order added to existing ethics rules that prohibit state officials from using information unknown to the public to enrich themselves or family members, as recent huge payouts on […]
In the 1983 film Trading Places, two wealthy brothers set out to rig the commodities market by getting their hands on a secret government crop report. Eddie Murphy’s character uses that stolen preview to trade ahead of everyone else and cash in big. Moviegoers were meant to see it as brazen and clearly illegal. Except […]
Thirty Congress members have supported a bill that would prevent federal officials and political employees from using prediction markets that could be influenced by insider information. After an anonymous Polymarket user cashed out with over $400,000 on a trade related to the operation to depose Venezuelan President Nicolás Maduro, concerns were raised that the bet […]
Mikie Sherrill, once comfortably ahead in the New Jersey governor’s race, has been getting plenty of attention over her stock trading lately, and not in a good way. Her fellow lawmakers should take note if they also have aspirations for higher office. The Democratic New Jersey congresswoman seemed like a shoo-in to succeed Phil Murphy […]
A protĂ©gĂ© of former junk bond king Michael Milken was sentenced on Monday to 3-1/2 years in prison for insider trading at a healthcare company he once led, over his use of a trading plan designed to protect executives against that crime. Terren Peizer, 65, the founder and former chief executive of Ontrak, was sentenced […]
