Moulton Joins Warren and Craig in Calling on the CFTC And OGE to Curb Insider Trading in Prediction Markets

WASHINGTON, D.C. — Congressman Seth Moulton (MA-06) joined 40 of his colleagues from the House and the Senate, led by Senator Elizabeth Warren (D-MA) and Congresswoman Angie Craig (MN-02), in sending a letter to the Commodity Futures Trading Commission (CFTC) and the Office of Government Ethics (OGE) demanding immediate executive branch-wide guidance to prevent federal employees from using non-public information to profit on prediction markets.

This request comes after recent reports of suspiciously-timed trades linked to sensitive government actions and national security events. 

In the letter, the lawmakers requested answers to the following questions:

1. Has the CFTC, OGE, or another agency distributed guidance instructing federal employees that they must refrain from insider trading in prediction markets?
2. Has the CFTC investigated, received reports of, or otherwise become aware of instances of federal employees engaging in insider trading in prediction markets?
3. What steps, if any, is the CFTC taking to detect and prevent insider trading by federal employees on unregulated or overseas prediction markets?
4. What steps, if any, will the CFTC take to increase federal employees’ understanding of restrictions on insider trading in prediction markets?
5. What steps, if any, is the CFTC taking to work with the designated contract markets it regulates to detect and prevent insider trading by federal employees?

You can read the full letter here. 

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