CFTC Enforcement Director: Laws prohibiting insider trading also apply to prediction markets

According to Bloomberg, David Miller, the enforcement director of the Commodity Futures Trading Commission (CFTC), stated at a seminar at New York University on Tuesday that the agency will use its existing enforcement authority to combat insider trading in prediction markets.

David Miller pointed out that there is a misunderstanding in mainstream media and social media that laws related to insider trading do not apply to prediction markets, and he clearly stated that this view is incorrect.