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Insider Trading

All articles tagged with #insider trading

Truth API Draws Criminal and Civil Fire as Prosecutors and California Challenge Trump Media
politics15 days ago

Truth API Draws Criminal and Civil Fire as Prosecutors and California Challenge Trump Media

A coalition of 53 former federal prosecutors and agents has filed an amicus brief in a federal lawsuit against Trump Media & Technology Group, arguing that the 'Truth API' service, which charges $100,000 monthly for early access to presidential posts, likely violates federal securities and anti-corruption laws. Simultaneously, San Francisco has sued the company in state court, alleging the scheme violates California’s Unfair Competition Law by creating a marketplace for insider trading. The federal suit, brought by the Intercept and Freedom of the Press Foundation, seeks a preliminary injunction, with a hearing scheduled for October 7.

via Yahoo Finance|
#first-amendment#insider-trading#politics
Truth Social Pay-to-Play Scheme Faces Federal and State Legal Challenges
politics16 days ago

Truth Social Pay-to-Play Scheme Faces Federal and State Legal Challenges

Trump Media’s $100,000 monthly subscription for early access to presidential posts is facing multiple lawsuits alleging corruption and insider trading. White House aide Natalie Harp is named as a defendant in federal and state suits. Former federal prosecutors argue the scheme likely violates criminal laws, while regulators and lawmakers call for investigations.

via Daily Kos|
#donald-trump#insider-trading#natalie-harp
SF Files Suit Over Truth Social’s Pay-to-Priority Posts
law17 days ago

SF Files Suit Over Truth Social’s Pay-to-Priority Posts

San Francisco filed a state-court complaint seeking to block Truth Social from offering high-priced subscribers early access to posts by the president and other officials, arguing the paid “Truth API” creates market-moving, unfair advantages and could amount to insider trading under California law; the city seeks an injunction and penalties, noting past posts that allegedly moved stocks and pre-release employment data, with a related federal case on Truth API continuing.

via Bloomberg Law News|
#california-law#insider-trading#law
Insider at Nasdaq-listed Loop Industries Convicted in Securities Fraud Scheme
business26 days ago

Insider at Nasdaq-listed Loop Industries Convicted in Securities Fraud Scheme

A federal jury convicted Donald Danks, a former Loop Industries director, of conspiracy to commit securities fraud, witness tampering, obstruction of justice, and perjury in connection with a six-year scheme to defraud investors in Loop’s Nasdaq-listed stock. He used inside information to solicit investors while secretly selling Loop shares through a shell company, Ventanas Capital LLC, profiting over $4 million; after SEC/FBI scrutiny he and an associate took further steps to conceal the fraud. Sentencing is set for December 4, 2026.

via Peoples Gazette Nigeria|
#business#donald-danks#insider-trading
Kalshi and Polymarket: High-Stakes Bets Meet High Scrutiny
business28 days ago

Kalshi and Polymarket: High-Stakes Bets Meet High Scrutiny

Kalshi and Polymarket are the two biggest prediction markets, drawing billions in trades by letting users bet on everything from elections to pop-culture events like Taylor Swift’s wedding. They helped push events like the World Cup into record gambling levels, but have come under increasing scrutiny for insider trading and manipulation, with about 20 states trying to ban them under existing anti-gambling laws.

via The New York Times|
#business#insider-trading#kalshi
Kalshi bars George Santos for life over insider-trading findings
business1 month ago

Kalshi bars George Santos for life over insider-trading findings

Prediction-market operator Kalshi permanently bans former Rep. George Santos from trading on its platform after an internal review found insider-dealing in February bets tied to his attendance at Donald Trump’s State of the Union. Santos allegedly earned about $17,800 from the trades, Kalshi issued a $71,356 penalty, and referred the case to federal authorities; the move comes as regulators increase scrutiny of prediction markets.

via BBC|
#business#george-santos#insider-trading
Santos banned by Kalshi over attendance bets and market manipulation claims
business1 month ago

Santos banned by Kalshi over attendance bets and market manipulation claims

George Santos was barred from Kalshi’s prediction-market platform after Kalshi Compliance said he placed several large bets on whether he would attend events (including the State of the Union) and made public statements intended to sway contract prices, actions tied to an ongoing federal probe that led to a $35,000 CFTC settlement. The move mirrors broader scrutiny of Santos’ trading activity in prediction markets, with Kalshi also banning two other political hopefuls for similar conduct, while Santos publicly criticized the bans on social media.

via AP News|
#business#cftc#george-santos
Kalshi Imposes First-Ever Lifetime Ban on George Santos for Market Manipulation
business1 month ago

Kalshi Imposes First-Ever Lifetime Ban on George Santos for Market Manipulation

Former Rep. George Santos received Kalshi’s first-ever lifetime ban and a $71,356 fine for insider trading and attempting to manipulate prediction-market prices related to his State of the Union attendance; Kalshi froze his account after he publicly tried to influence contracts and referred the case to the CFTC, which had already fined him in a prior settlement. Santos has a lengthy legal history, including a 2023 ethics expulsion and a 2025 commutation of a prison sentence, and Kalshi has pursued enforcement actions against other politicians this year.

via WIRED|
#business#george-santos#insider-trading
Kalshi imposes its first-ever lifetime ban on George Santos for bets on his own State of the Union attendance
business1 month ago

Kalshi imposes its first-ever lifetime ban on George Santos for bets on his own State of the Union attendance

Kalshi issued its first-ever lifetime ban on former Rep. George Santos after finding he profited about $17.8K by betting on whether he would attend the State of the Union, while allegedly misrepresenting information that influenced the market; he faces roughly $71,356 in penalties for non-cooperation, and the CFTC banned him from prediction markets for three years, with an appeal option available.

via New York Post|
#business#cftc#george-santos
Ex-White House Teleprompter Operator Sanctioned for Speech-Based Insider Trading
law-and-regulation1 month ago

Ex-White House Teleprompter Operator Sanctioned for Speech-Based Insider Trading

Former White House teleprompter operator Gabriel Perez settled with the CFTC for $172,000 after misappropriating confidential advance access to presidential speeches to trade on 'presidential mention' contracts in prediction markets, earning more than $107,500 between December 2025 and February 2026. The settlement requires disgorgement of $107,539.02, a $65,000 civil penalty, and a three-year trading ban; Kalshi aided the investigation. The case underscores insider-trading risks as prediction markets grow and affirms CFTC oversight over these contracts.

via Decrypt|
#cftc#insider-trading#kalshi
Ex-White House Teleprompter Operator Penalized for Insider Trading via Speech-Prediction Bets
finance1 month ago

Ex-White House Teleprompter Operator Penalized for Insider Trading via Speech-Prediction Bets

A former White House teleprompter operator, Gabriel Perez, agreed to pay $172,000 to settle charges that he traded on advance knowledge of presidential speeches by betting on ‘presidential mention’ prediction-market contracts. The CFTC says he used confidential speeches to profit, earning over $107,500 from December 2025 to February 2026. As part of the deal, Perez disgorges $107,539.02, pays a $65,000 civil penalty, and faces a three-year trading ban. Kalshi aided the investigation and cooperation led to a reduced penalty. The case highlights insider-trading risks as prediction markets gain popularity and regulatory scrutiny, with the CFTC asserting jurisdiction over such event contracts.

via Yahoo Finance|
#cftc#finance#insider-trading
White House teleprompter operator hit with $172K penalty for insider-trading Trump speech bets
business1 month ago

White House teleprompter operator hit with $172K penalty for insider-trading Trump speech bets

Gabriel Perez, a White House teleprompter operator, used nonpublic information from upcoming Trump speeches to trade on Kalshi’s prediction market, earning about $107,539 in profits; the CFTC ordered him to disgorge those profits, pay a $65,000 civil penalty, and ban him from prediction-market trading for three years, calling it insider trading with Kalshi’s assistance. Perez cooperated, had been placed on leave, and the White House did not comment.

via NBC News|
#business#cftc#insider-trading