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A House Democrat is introducing legislation that would make it illegal for government officials to use online prediction markets to make bets on political events based on privileged information. The bill comes in response to the huge profits some traders on Polymarket made betting on Nicolás Maduro's ouster shortly before the Venezuelan president was extradited to the U.S. on Saturday.
Elisabeth Diana, a spokesperson for the prediction website Kalshi, noted that they are already regulated by the Commodity Futures Trading Commission and ban insider trading on their platform. "We're looking at the specifics of the bill, but we already ban the activity it cites and are in support of means to prevent this type of activity," she said.
https://www.axios.com/2026/01/05/venezuela-polymarket-prediction-insider-trading?stream=top
