Washington, May 12 -- Congressman Ted W. Lieu issued the following press release:
Congressmen Ted W. Lieu (D - Los Angeles County) and Sean Casten (D-IL) led 54 House Democrats in an effort to urge the Department of Justice (DOJ) to pursue suspected insider trading on prediction market platforms more aggressively.
"Trading on confidential, non-public information is illegal in traditional financial markets when it involves fraud, deception, or breach of duty. Failure to enforce these laws in the context of prediction markets risks creating a regulatory gap that rewards bad actors, incentivizes misconduct, and undermines confidence in the integrity of U.S. markets," the lawmakers wrote. "...We therefore urge the DOJ to continue to take deci...