US CFTC Approves Secret Investigations into Insider Trading at Polymarket

The U.S. Commodity Futures Trading Commission (CFTC) has confirmed through documents obtained under the Freedom of Information Act (FOIA) that it approved at least three secret investigations into alleged insider trading on prediction platform Polymarket.

According to Wired, the CFTC authorized investigations in May regarding a trader who reportedly made over $300,000 from a Biden administration commutation contract and accounts suspected of earning $2.4 million with 98% accuracy on 'Iran war' contracts. In July, the scope expanded to include alleged misuse of non-public Google search ranking data for related contracts, with the U.S. Attorney's Office for the Southern District of New York also launching a parallel investigation. Polymarket has stated it will fully cooperate with authorities.