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Seven House Democrats press CFTC over offshore war-related prediction contracts

Regulation

Seven House Democrats questioned the CFTC’s handling of offshore prediction-market contracts tied to military actions and foreign political events in a letter to chair Michael Selig. Led by Seth Moulton and Jim McGovern, the lawmakers argued that the agency should enforce restrictions on contracts involving war and raised concerns about possible trading on non-public government information.

The lawmakers’ request puts pressure on the CFTC to clarify how it oversees offshore event contracts linked to US government actions.

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Regulation

House Democrats seek subpoena power to investigate prediction-market trades

Seven House Democrats, led by Representative Chris Pappas, asked House Oversight Committee chair James Comer on Monday for subpoena power to investigate possible insider trading tied to prediction markets and US military operations. Their request follows allegations about trades ahead of military actions and a separate case involving a soldier accused of using confidential information; the lawmakers cited earlier calls for the Commodity Futures Trading Commission to restrict contracts linked to death or armed conflict.

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