00:00It's Benzinga bringing Wall Street to Main Street.
00:02The Commodity Futures Trading Commission said it will increase oversight of prediction markets
00:06as trading activity rises and warned that insider trading on platforms like Kelsher
00:11and Polymarket is illegal. Speaking Tuesday at New York University School of Law,
00:16Enforcement Chief David Miller said insider trading will be a top priority and rejected
00:21claims that such activity is allowed, according to Business Insider. He said the agency will add
00:26staff to investigate cases and pursue settlements. The warning follows incidents involving a
00:31California politician betting on his own election and a media employee trading on confidential
00:36information. Polymarket and Kelsher updated their rules to ban trades based on non-public information.
00:43Lawmakers introduced a bipartisan bill to restrict such practices, while prosecutors and state
00:48officials have launched investigations and charges tied to the platforms. For all things money,
00:53visit Benzinga.com.
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