Copy and paste into the form on the website of your Senators and Representative and share with friends, https://www.congress.gov/contact-us.

[grayladywriter@mindly.social]

Copy and paste into the form on the website of your Senators and Representative and share with friends, https://www.congress.gov/contact-us.

Dear Senator/Representative:

I need you to regulate Polymarket and ban insider trading.

On April 8, AP reported that new accounts “made highly specific, well-timed bets totaling $170 million on whether the U.S. and Iran would reach a ceasefire on April 7. The bets resulted in hundreds of thousands of dollars in profits for these new customers.” Three accounts made almost a half million dollars. This mirrors bets placed on the start of the Iran War.

Traders spent $529 million on contracts tied to the timing of the initial attack on February 28. Six newly created wallets made a profit of $1.2 million by correctly betting that the U.S. would strike Iran by that date. One account turned $61,000 into almost a half million.

Earlier this year, a Polymarket account earned almost $500,000 from a $38,500 investment in contracts tied to the capture of Venezuelan President Nicolás Maduro. Its largest trades were placed merely hours before the secret military action became public.

Current insider trading law only covers securities. Federal wire fraud statutes do not apply. And the primary Commodity Futures Trading Commission anti-fraud device for commodity derivatives also does not apply.

Work with your colleagues to sponsor effective legislation.
#Resist #ResistOfTheDay #InsiderTrading