WASHINGTON, April 9 -- Sen. Richard Blumenthal issued text of the following press release:
U.S. Senator Richard Blumenthal (D-CT) today wrote to Founder and CEO of Polymarket Shayne Coplan demanding answers about the prediction market's failure to prevent insider trading and gambling related to American national security matters, including betting over military interventions in Venezuela and Iran. Blumenthal's letter comes after a group of new accounts on Polymarket placed highly specific bets on whether the U.S. and Iran would reach a ceasefire agreement on April 7, shortly before the two-week ceasefire deal was announced by President Trump.
"These repeated, illicit bets raise significant concerns about the mishandling of confidential in...