A controversial bet taken on Polymarket in relation to Venezuelan President Nicolas Maduro has triggered alarms in legal and political circles in the US, with the Coalition for Prediction Markets taking out an ad on Wednesday showing support for a ban on insider trading.
The coalition is made up of numerous prediction market operators, including Kalshi, Coinbase, and Robinhood. The ad, published in the Washington Post, calls on Congress to work with them to keep the regulation of prediction markets transparent.
Speaking to Business Insider, a spokesperson for the coalition said the ad was part of an “opening salvo” by operators to push for stronger federal regulation, as prediction markets are under increasing scrutiny from state gambling regulators across the US.
