Hey don’t abuse privileged workplace information for personal gain isn’t exactly a fresh notion.
Imagine if professionals like lawyers and accountants operated like that.
Kalshi: Sequoia Capital, Paradigm, Andreessen Horowitz (a16z), Y Combinator, Charles Schwab, Henry Kravis (KKR), and CapitalG (Alphabet).
Polymarket: Intercontinental Exchange (ICE - parent of the NYSE), Founders Fund (Peter Thiel), Vitalik Buterin, and 1789 Capital (Donald Trump Jr.).
PredictIt: Primarily supported by Aristotle International (a political tech firm) and historically Victoria University of Wellington.
Donald Trump Jr.: Prominent investor in Polymarket through his firm, 1789 Capital, and serves as a paid strategic advisor to Kalshi.
The current CFTC Chairman, Michael Selig, created a 35-member panel to draft new regulations for prediction markets. This panel includes the CEOs of the platforms they regulate, such as Shayne Coplan (Polymarket) and Tarek Mansour (Kalshi).
The way I understand insider trading is usually prosecuted is you find out who made the bet & then you have to track down their communications to see if they got tipped off.
I guess this isn't true for all things you might bet on, but it seems to be true for a lot of them.
Random people who saw an ad or their favorite influencer shilling it.
Like when my neighbors started asking me about NFTs.
1. Capable
2. Desirous of
3. Competently followed
113•1h ago