Insider Trading

Trump Pardons Former Republican Congressman Convicted of Insider Trading, Sparking Justice Debate President Trump has issued a pardon for a former Republican congressman previously convicted of insider trading, reigniting debates over the scope of presidential clemency powers and whether political connections confer undue advantage within the US justice system. According to AP News, the pardon was granted through a formal executive order. The decision has drawn sharp criticism from good governance advocates who argue that using presidential clemency to overturn convictions of political allies undermines public trust in the rule of law. Conversely, supporters within the Republican party have framed the pardon as a correction of what they describe as politically motivated overreach by federal prosecutors. ...

House Oversight Chairman Comer has launched an investigation into insider trading on prediction market platforms Kalshi and Polymarket, sending letters to both CEOs with a deadline to respond by June. The move follows India’s recent crackdown on Polymarket. Prediction markets, as an emerging financial instrument, operate in a regulatory gray area. The probe will examine whether trades exploiting non-public information have occurred, whether platforms have adequate monitoring mechanisms to detect and prevent insider trading, and whether prediction markets should fall under CFTC oversight. ...

US Army officer Gannon Ken Van Dyke is charged with using classified information to bet on Venezuelan President Maduro’s capture on the crypto-powered prediction market Polymarket, winning over $400,000. He pleaded not guilty in New York federal court on Tuesday.