Danielle, In the days leading up to U.S. strikes on Iran, traders on platforms like Polymarket placed perfectly-timed bets on the outcome — some accounts winning hundreds of thousands of dollars, and some made millions. Was that a lightning in a bottle moment? I’m skeptical. Before the capture of Venezuelan President Nicolás Maduro, there was a sudden burst of activity on prediction markets — and anonymous again accounts walked away with hundreds of thousands of dollars in profit. Heck of a guess, huh? Let’s be clear: This wasn’t luck. Or some genius prediction. This is what it looks like when people are trading on information the public doesn’t have. There’s a term for that: Insider trading. So I led more than 40 of my colleagues in Congress in demanding that the CFTC and the Office of Government Ethics investigate, issue guidance to federal employees, and brief Congress on the steps they're taking to stop this behavior.
I want to know if you’re with us too. Add your name if you believe these markets should follow the same basic rules as every other financial market — no insider trading, no manipulation, no exceptions.
Researchers have now identified over $140 million in suspicious, “anomalous” profits tied to these markets. If these were SEC-regulated markets, there would be an automatic investigation over every single one of these trades. But when the market is unregulated, insiders have free rein to manipulate it however And it gets even more dangerous. Because this isn’t just about money — it’s about power. When people can bet on whether a war will happen, or whether a foreign leader will fall, we have to ask: Are these markets reflecting reality or shaping it? Think about how dangerous the answer to that question could be. Someone with financial skin in the game may have influence over whether a military strike happens. That's a profound threat to our national security and our democracy, Danielle. But right now? The watchdogs are asleep. Trump regulators are dragging their feet, even as these markets grow into a multi-billion-dollar industry with serious risks of manipulation and insider abuse. And the people in charge? Too busy protecting powerful interests to protect the public. Trump’s CFTC chair is a crypto bro more focused on promoting industries the Trump family profits from than investigating insider trading. His SEC enforcement director just resigned after being blocked from pursuing cases involving Trump's allies. I've spent my career fighting for an economy that works for everyone — not just the wealthy and well-connected. And let’s be clear: this isn’t a fair market. It’s a money grab. And it’s dangerous. I’m not going to sit by while a handful of insiders turn global crises into their personal payday. Add your name if you agree that our economy and our democracy should never be a game rigged for the rich and well-connected. Thanks for being part of this, Elizabeth  |
