Bobby Allen
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A staff-wide email from the White House Management Office put Trump officials on notice over prediction market sites like Cauchy and Polymarket.
It said it's a criminal offense to use non-public information to make money on betting markets about federal policy, military strikes, and war.
It comes as a number of suspiciously well-timed bets have raised alarms, including six-figure polymarket bets on a ceasefire between the U.S.
and Iran hours before an announcement was made.
Regulators have cleared the lane for the prediction market industry to boom in Trump's second term.
But accusations that insiders could be profiting off of classified military intelligence have put the sights on the defensive.
A staff-wide email from the White House management office put Trump officials on notice over prediction market sites like Cauchy and Polymarket.
It said it's a criminal offense to use non-public information to make money on betting markets about federal policy, military strikes, and war.
It comes as a number of suspiciously well-timed bets have raised alarms, including six-figure Polymarket bets on a ceasefire between the U.S.
and Iran hours before an announcement was made.
Regulators have cleared the lane for the prediction market industry to boom in Trump's second term.
But accusations that insiders could be profiting off of classified military intelligence have put the sights on the defensive.
The Commodity Futures Trading Commission has taken the rare step of launching lawsuits against three states.
It argues sites like Kaoshi and Polymarket should not be regulated as gambling businesses.
The question of whether prediction market sites are gambling or what's known as a futures contract has set off more than two dozen lawsuits pitting state gaming officials against the Trump administration.
It's the latest legal development over an issue expected to go all the way to the Supreme Court.
Lawmakers in Washington have been expressing alarm over the sites where people can bet thousands of dollars on military strikes in Iran, the extent of famine in Gaza, and what Trump official will leave the White House next.