"Kalshi is supportive of the bill Ritchie Torres is looking to introduce to affirm the ban on insider trading on prediction markets. Why? Because we already implement it,"
"If you have material non-public information on a market, you cannot trade it and if you do, you are committing a financial crime,"
"Prediction markets, like any industry, are not a monolith: there are important distinctions that matter,"
Tarek Mansour supports Representative Ritchie Torres's proposed bill to prohibit insider trading on prediction market platforms. Kalshi already bars insider trading and applies rules adapted from the New York Stock Exchange and Nasdaq. Traders with material non-public information are not permitted to trade and doing so constitutes a financial crime. A Polymarket trader profited over $400,000 from a timely bet on Nicolás Maduro shortly before his capture. Polymarket does not explicitly forbid insider trading. Mansour emphasizes distinctions between regulated platforms like Kalshi and unregulated, offshore prediction markets and warns that conflating them benefits foreign markets.
Read at Business Insider
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