Prediction market platforms Polymarket and Kalshi announced new rules for insider trading after criticism from senators.
Prediction market platforms Polymarket and Kalshi announced new rules for insider trading after criticism from senators. Kalshi said that political candidates would not be allowed to trade on their own campaigns and those who were in college or professional sports wouldn’t be allowed to trade contracts related to the sports they play.
Polymarket implemented a similar policy that said users are not allowed to trade contracts where they may possess confidential information that would impact the outcome of a bet. “These rule enhancements make our expectations abundantly clear for every participant across both platforms," Polymarket’s chief legal officer Neal Kumar said. California Democratic Sen. Adam Schiff and Utah GOP Sen. John Curtis introduced a legislation titled the “Prediction Markets are Gambling Act” which would stop gambling sites from creating contracts regarding sports.“Pervasive gambling is not good for society,” she wrote on X. “It turns life into a casino, traps people in addiction & debt, surges domestic violence, and fosters manipulation.”“Just on the policy piece alone, there are SO many individuals - staff, advisors, consultants, cabinet secretaries, spouses, and more - that can trade on insider information,” she wrote on X. “This is just a fig leaf to deflect from criticism. We need to do more.”Investigators said forensic DNA evidence collected during the case identified Ruiz as the perpetrator.The fiscal officer has been removed from office after a judge found he violated state law by attempting to invest public funds in gold coins.The City of Columbus is investing more than $17 million into summer youth programming, but not all community organizations made the cut to receive part of the fOhio State President Ravi V. Bellamkonda has selected longtime John Glenn College of Public Affairs Dean Trevor Brown to serve as the university’s interim execu
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