A senator trying to put an end to officials getting rich off insider trading

[M47AK16]

The prediction market is not the problem after all and do not have to be what should be banned rather the politicians should be the ones that should get banned from partaking in them.

The politicians are privy to deep information that ordinary people do not and cannot have access to ontil time has made it irrelevant. Banning politicians is what can help truncate much insider trading troubles in the prediction market instead of banning the market.

It is unfair for those who play fairly and responsibly. But it is just that if the platform continues, a restricted player may still evade the restrictions put in them. I won't state a sample, as I may only gave an idea to them. Maybe the platform can only be much tighter and watch out for a shady transaction. Another thing is the platform can also remove events that can possibly be manipulated easily.

Although some are greedy and include almost everything on them as that gets them more customers. Maybe they can even receive a kickback. But this would be the ones that they should ban or shut their service down, if proven to be guilty.

[Furball808]

I believe insider trading can be problematic especially for those in government positions because they’re in positions of power and this system can also be seen as corrupt since these politicians can literally move some strings so they can profit.

[Dr.Bitcoin_Strange]

This has been going on for a long time now but ever since it started till now, I feel that enough culprits has not been caught but they are many and since they have power and connection, they always cover up their paths which I doubt if this problem can be completely stopped, but first, let the government officials be banned from participating in prediction trading and prediction market should also stop listing some events which the officials can take advantage of.

[Johnlomape]

Insider trading have been a thing for the past many years and now she is making a big deal of out it? Maybe simple because it's becoming more noticeable that she isn't the only one taking part of the cake for herself? It's very likely that she's also trading on tips too.




Maybe prediction markets need to be banned? Or is it every government officials that needs to be banned? As for me I don't know about any other business models as government officials than this, lol.

The Trump regime has been one of the most corrupted for politicians taking advantage of the market through insider trading.
There has been so many obvious cases of insider trading and the Trump family need to be punished for this while is friends are disrupting the financial market by greedy launch trades before the big news. The Trump family are known to be manipulating the market through various trades that is making them richer while the market is bleeding while some people are taking full advantage of insider news.

[Orpichukwu]

We need them to be replaced by the younger generations asap.

And there is no guarantee that the younger generations won't be doing worse than the people in power; it depends on different countries and how we view this political situation. I hope for change, and it could come from anyone, both the young and the old, but the old set, which are all already in power, should make way for the newer ones; it could be any qualified person, not by age.

[tabas]

I believe insider trading can be problematic especially for those in government positions because they’re in positions of power and this system can also be seen as corrupt since these politicians can literally move some strings so they can profit.

It really is problematic and unfair for those who are doing a fair fight. While them, sitting in their office chairs comfortably without thinking of any pressure except the job that they have sworn to. But those who are in the other sides of the market, they have no idea that somewhere is taking advantage of insiders and that's why it's not fair when there are officials involvement into insider trading. You'd see a lot of them became rich and took advantage of the public office that they have been given and entrusted by the people.

[goldkingcoiner]

We need them to be replaced by the younger generations asap.

And there is no guarantee that the younger generations won't be doing worse than the people in power; it depends on different countries and how we view this political situation. I hope for change, and it could come from anyone, both the young and the old, but the old set, which are all already in power, should make way for the newer ones; it could be any qualified person, not by age.

The thing is, the old people are only making a better world for the old people. They refuse to change their views and ways, even though many of them are extremely outdated and proven to be wrong. Old people stick to what they know and refuse to learn new things. Anyone who has grandparents knows this is true.

Furthermore, their mental capabilities are degrading. We do not want a 80 year old behind the wheel of a car, so why should we allow them to steer an entire country?   They refuse to let go of their positions and gatekeep these important jobs from the young people. But who needs to learn and grow into this position? The young people. Sure they will make mistakes in the beginning but this is how anyone learns- by making mistakes.

We cannot continue with the old ways. The young are the future.

[DanWalker]

This has been going on for a long time now but ever since it started till now, I feel that enough culprits has not been caught but they are many and since they have power and connection, they always cover up their paths which I doubt if this problem can be completely stopped, but first, let the government officials be banned from participating in prediction trading and prediction market should also stop listing some events which the officials can take advantage of.

I also believe this problem has existed for a long time, but most people simply didnt notice and politicians were careful not to make it too obvious. But this has become increasingly blatant and brazen since Trump took office and became the most corrupt administration in US history.

They not only created and supported crypto projects to defraud the community, but also manipulated financial market and helped family member profit illicitly from it.

[imthegreat]

Insider trading have been a thing for the past many years and now she is making a big deal of out it? Maybe simple because it's becoming more noticeable that she isn't the only one taking part of the cake for herself? It's very likely that she's also trading on tips too.




Maybe prediction markets need to be banned? Or is it every government officials that needs to be banned? As for me I don't know about any other business models as government officials than this, lol.

It is no longer possible to ban prediction markets, but if I go through KYC there, it may seem that the game will become more honest. But again, remember that KYC is easy to fake. Recently, there were hundreds of accounts on binance that were identified and accused of having forged documents using AI technology that perfectly rendered all portraits and prints. And the binance workers missed it.As for regulation, the prediction markets are still young and they still have a lot of legislative regulation ahead.

[Fortify]

Insider trading have been a thing for the past many years and now she is making a big deal of out it? Maybe simple because it's becoming more noticeable that she isn't the only one taking part of the cake for herself? It's very likely that she's also trading on tips too.

Maybe prediction markets need to be banned? Or is it every government officials that needs to be banned? As for me I don't know about any other business models as government officials than this, lol.

Until you see prosecutions and several of them, there is no reason for this sort of insider trading to stop. If people are making millions with a slim chance of getting caught or facing any consequences then they will hit it hard. It also takes a lot of resources to track what happened and the evidence can sometimes be harder to recreate the longer it is from the time of the incident. The fact that there is a constant stream of random news coming from the US president which hide all kind of bad news stories makes it harder to follow the scale of the problem. However there have been multiple cases of suspicious trading activity around major events that it would seem only a government insider, close to the very top, would know about.

[viljy]

Even strict regulation cannot prevent manipulation. Therefore, the best option is to simply avoid those bets that are highly likely to be manipulated. This is exactly what I do (although sometimes I consciously choose bets, for example, depending on the actions of one person, if I believe that I can predict correctly). It's like "personal regulation" or regulation at the micro level.

The prediction markets themselves have great potential and, regardless of regulators, will grow in the coming years. The popularity of prediction markets lies in their breadth of betting on diverse events. For example, to be a successful sports bettor, you need to at least understand sports (say, football), follow the football news, clubs, etc. This somewhat limits the audience of bookmakers. On the other hand, everyone believes that they understand politics better than current presidents! The same can be said about the economy.

During crises, millions of politicians and economists suddenly appear who know how to properly govern the country. During an epidemic, millions of virologists suddenly appear who know how to treat better than doctors... That's why prediction markets are popular.

[asriloni]

Insider trading have been a thing for the past many years and now she is making a big deal of out it? Maybe simple because it's becoming more noticeable that she isn't the only one taking part of the cake for herself? It's very likely that she's also trading on tips too.

It's just a buzzword by him. he says like he's supporting the ban for the insider trading while the fact is always opposite with what politician said. I don't think politician is stupid enough to destroy their business to fool and rob retail's money.

Maybe prediction markets need to be banned? Or is it every government officials that needs to be banned? As for me I don't know about any other business models as government officials than this, lol.

If they're consistent with what they said. They shoud be banned in all of activities related to the ban. Banning them in prediction market means nothing because they're still actively manipulating the stock market.

That's why imphasize if they have guts to destroy their source of income. So they have to ban themselves, their family, and their close person from doing trade in all of commodity and security market.

[Oluwa-btc]

Insider trading have been a thing for the past many years and now she is making a big deal of out it? Maybe simple because it's becoming more noticeable that she isn't the only one taking part of the cake for herself? It's very likely that she's also trading on tips too.




Maybe prediction markets need to be banned? Or is it every government officials that needs to be banned? As for me I don't know about any other business models as government officials than this, lol.

If she's making a deal out then, why was that soldier from the United States military force arrested for aslso doing just the same thing these politicians do?!
The trading sucks big balls! They're obviously cheating and it is not out of pure creativity or genius. While the people and citizens bleed, the government officials make too much profit for an unnecessary war they cooked up themselves?! Clearly shows Donald Trump and his officials are simply selfish tenure as president.

[YellowSwap]

This has been going on for a long time now but ever since it started till now, I feel that enough culprits has not been caught but they are many and since they have power and connection, they always cover up their paths which I doubt if this problem can be completely stopped, but first, let the government officials be banned from participating in prediction trading and prediction market should also stop listing some events which the officials can take advantage of.

It's harder to bring anyone to justice in this, because it will be like they are betraying eachother, if some group decide to take action on this, like arresting rather than banning, there will be a bigger problem.

Someone will get pissed, or some people won't like the idea, it could get to the point where someone will have to start exposing others, trust me, I have some experience with government officials in my country, the scratching my back and I scratch yours is a thing here.

The best they can do is restriction on government officials, they must not in any way gp near prediction markets, ro risk jail time or something similar.

[iv4n]

Maybe prediction markets need to be banned? Or is it every government officials that needs to be banned? As for me I don't know about any other business models as government officials than this, lol.

And how did they make money before prediction markets? There are countless ways... the more powerful position will open more doors for you.

I think it's too late for banning prediction markets... they are out & nothing can stop them from growing. I guess some countries will have stricter laws & regulations, but even that will not stop some people from trying to exploit their insider information. As always, some of them will fail and be caught, but we will not even hear about many other successful ones... 

[KiaKia]

Maybe prediction markets need to be banned? Or is it every government officials that needs to be banned? As for me I don't know about any other business models as government officials than this, lol.

And how did they make money before prediction markets? There are countless ways... the more powerful position will open more doors for you.

I think it's too late for banning prediction markets... they are out & nothing can stop them from growing. I guess some countries will have stricter laws & regulations, but even that will not stop some people from trying to exploit their insider information. As always, some of them will fail and be caught, but we will not even hear about many other successful ones... 

Maybe the old don't want things to get destroyed by the not so old government officials? I am talking on behalf of how politicians behaves in my country, maybe these old people are losing their grips.

I don't trust these people, the old ones might be taking advantage of something like this for a long time already and now that the not so old people are joining or maybe even outsmarting them they aren't happy about it.

It's obviously getting out of hand is why these people are now talking, the question on my mind is why now? Of all this time now is the time they decide to put an end to this? Something that's been happening for a very long time already.

[Solodoski]

Maybe prediction markets need to be banned? Or is it every government officials that needs to be banned? As for me I don't know about any other business models as government officials than this, lol.

In Nigeria there have been more prediction market which is trending now, it is becoming a challenge because influencer are paid highly to promote these market but deep down there are lot of insider. I do not like prediction market. I want them to be banned.

Government officials are like every other person who is interested in gambling. I think government official should be allowed to gamble but regulation should be done strictly on them.

[BABY SHOES]

The prediction market is not the problem after all and do not have to be what should be banned rather the politicians should be the ones that should get banned from partaking in them.

The politicians are privy to deep information that ordinary people do not and cannot have access to ontil time has made it irrelevant. Banning politicians is what can help truncate much insider trading troubles in the prediction market instead of banning the market.

Politicians have been banned from participating in the prediction market but it still exists today and it is difficult to eradicate this unless the prediction market is as strict as possible like KYC at the beginning.
Politicians clearly have access to a country's confidential information, they may not use their own accounts, but other people's accounts, but this practice still exists and it is almost the same as corruption which is difficult to eradicate.

[AmoreJaz]

In Nigeria there have been more prediction market which is trending now, it is becoming a challenge because influencer are paid highly to promote these market but deep down there are lot of insider. I do not like prediction market. I want them to be banned.

Government officials are like every other person who is interested in gambling. I think government official should be allowed to gamble but regulation should be done strictly on them.

For me, what the government can do is to regulate it so they can still generate income from this business. Because in today's set-up, you can't just eradicate an online business because they keeps on growing like mushrooms especially if they have seen that there are people who are patronizing such business. So maybe, regulate and be strict with the protocols related to this business.

[Cookdata]

This has been going on for a long time now but ever since it started till now, I feel that enough culprits has not been caught but they are many and since they have power and connection, they always cover up their paths which I doubt if this problem can be completely stopped, but first, let the government officials be banned from participating in prediction trading and prediction market should also stop listing some events which the officials can take advantage of.

How can the government end an insider trading when it's not like government is a stable leadership. There is change every 4 years and within this years each government comes with their aim and objectives with promises to people, how would they possibly achieved zero tolerance for insider trading. I mean look at how Trump family is involved in crypto, they promised to give Bitcoin to the world but seems like every person in that house has launch their personal coin.

There is one silent case reported by BBC, about how oil price spike some hours before Madurov was captured in Venezuela, some officer that involves in the arrest was dismissed but I don't believe only those officers are involved in the case, there is more to what was reported but then the government will want to make ammendments and do some media damage control. Even as the Trump is busy trying to resolve the war he wasn't supposed to start, there are insider traders making money from that government institution.