Many of the items prediction markets allow bets on are just too easy to insider trade. Things like "Who wins the most gold medals in the Olympics," or "who wins this election" are much harder to get a betting advantage with. Will x celebrity meet with x person or mention z thing in a podcast? Those shouldn't even be allowed as bets, because a handful of people know the answer already, or could change scripts to manipulate the answer to the one they've bet on. If this is the first enforcement action, it
prediction markets are under fire from state gameing boards for offering sporting betting.
they want to work with the CFTC? but not state gameing?
and how do they hope to get the $$$ from that fine?
And in court will they give source code / other info they have?