- Buy Crypto
- Markets
Futures- Spot
- Copy Trade
- Earn
- More
A Trader Profited $400,000 from Maduro's Arrest, U.S. Lawmakers Plan to Legislate Against Prediction Market 'Insider Trading'
BlockBeats News, January 4th, according to The Block, Punchbowl News founder Jake Sherman revealed on Saturday that U.S. Representative Ritchie Torres will introduce legislation titled the "2026 Financial Prediction Market Public Integrity Act" aimed at combating potential insider trading on prediction market platforms.
The report stated that the bill would prohibit federal elected officials, political appointees, and executive branch employees from trading in prediction market contracts related to government policy or political outcomes when they possess or could reasonably be expected to possess material nonpublic information by virtue of their position. In the comments section of Sherman's related post, the PR account of prediction market platform Kalshi responded, stating that its platform rules expressly prohibit insiders or decision-makers from trading on material nonpublic information.
The introduction of the bill follows trading activity on a newly created account on Polymarket: a trader created an account on Polymarket at the end of December last year and only made four trades, all related to U.S. intervention in Venezuela, wagering approximately $32,500 that Maduro would be "out" by January 31st, with a purchase price of around $0.07 when the market's implied probability was only in the single digits. By Saturday morning confirmation of Maduro's ousting, the settlement price was close to $1, resulting in profits of over $400,000 in less than 24 hours, with a return of over 1,200%. The Wall Street Journal reported that prices for markets related to Maduro's ousting began to surge shortly before 10 p.m. Eastern Time on Friday, hours ahead of Trump's official announcement.
You may also like
President Trump Asserts Imminent Passing of Crypto Market Structure Bill
Key Takeaways Presidential Confirmation: President Trump states the major crypto market structure bill is on the verge of…
Germany Central Bank Head Advocates for European Crypto Stablecoins Under EU MiCA Framework
Key Takeaways Joachim Nagel, head of the Germany Bundesbank, is advocating for the adoption of euro-based crypto stablecoins…
Polygon Surpasses Ethereum in Daily Fees as Polymarket Bets Rocket
Key Takeaways Polygon has outpaced Ethereum in daily transaction fees, a historic shift driven by activity on Polymarket.…
Bitcoin Price Prediction: BTC Short Squeeze Alert – Is a Significant Rebound on the Horizon?
Key Takeaways Recent data indicates Bitcoin shorts have escalated to unprecedented levels reminiscent of a major market low…
Google’s Gemini AI Predicts the Price of XRP, Solana, and Bitcoin by the End of 2026
Key Takeaways XRP’s Potential: Google’s Gemini AI forecasts XRP could reach $10 by 2026, leveraging Ripple’s payment solutions…
Top Analyst Warns Bitcoin Price Could Plummet to $10,000 Amid Deepening Bear Market
Key Takeaways Bitcoin’s value could potentially drop to $10,000 as part of an imploding bubble, suggests a renowned…
Best Crypto to Buy Now February 10 – XRP, Solana, Dogecoin
Key Takeaways XRP is poised for long-term growth with its recent strategic expansions in institutional-grade payments and tokenization.…
Kyle Samani Criticizes Hyperliquid in Explosive Post-Departure Market Commentary
Key Takeaways: Kyle Samani, after leaving Multicoin Capital, criticized Hyperliquid, a decentralized exchange, labeling it as a systemic…
XRP Price Prediction: A 50M Token Sell-Off Just Shook the Market — Is More Loss Imminent?
Key Takeaways Over 50 million XRP hit the market within a span of less than 12 hours, leading…
Strategy Plans to Equitize Convertible Debt Over 3–6 Years: What It Means for BTC
Key Takeaways Strategy, led by Michael Saylor, is equitizing $6 billion in convertible debt as a long-term strategy…
BlockFills Freezes Withdrawals as Bitcoin Declines, Heightening Counterparty Risk Concerns
Key Takeaways BlockFills, an institutional trading firm, has stopped client withdrawals amid rising market volatility and Bitcoin price…
Leading AI Claude Predicts the Price of XRP, Cardano, and Ethereum by the End of 2026
Key Takeaways Claude AI projects substantial growth for XRP, Cardano, and Ethereum by the end of 2026, with…
Crypto Price Forecast for 16 February – XRP, Ethereum, Cardano
Key Takeaways Technical trends and recent developments suggest potential growth for XRP, Ethereum, and Cardano. XRP is targeting…
Bitcoin Price Prediction: Alarming New Research Warns Millions in BTC at Risk of ‘Quantum Freeze’ – Are You Protected?
Key Takeaways Recent market movements have sparked concerns over a potential bear market for Bitcoin, marked by significant…
XRP Price Forecast: Can XRP Truly Surpass Bitcoin and Ethereum? Analyst Argues the Contest Has Already Begun
Key Takeaways XRP has maintained significant support around the $1.40 level despite a 12% decline over the past…
Best Crypto to Purchase Now February 6 – XRP, Solana, Bitcoin
Key Takeaways XRP’s Strength: Ripple’s focus on challenging traditional systems like SWIFT is driving XRP towards a potential…
South Korea Intensifies Crypto Market Investigations Following Bithumb Incident
Key Takeaways A $44 billion mishap at Bithumb has prompted South Korean authorities to step up their scrutiny…
BTC Traders Eye $50K as Possible Bottom: Key Metrics to Watch This Week
Key Takeaways Bitcoin’s price fluctuations lead traders to eye $50,000 as a critical bottom. Despite a recent rally…
President Trump Asserts Imminent Passing of Crypto Market Structure Bill
Key Takeaways Presidential Confirmation: President Trump states the major crypto market structure bill is on the verge of…
Germany Central Bank Head Advocates for European Crypto Stablecoins Under EU MiCA Framework
Key Takeaways Joachim Nagel, head of the Germany Bundesbank, is advocating for the adoption of euro-based crypto stablecoins…
Polygon Surpasses Ethereum in Daily Fees as Polymarket Bets Rocket
Key Takeaways Polygon has outpaced Ethereum in daily transaction fees, a historic shift driven by activity on Polymarket.…
Bitcoin Price Prediction: BTC Short Squeeze Alert – Is a Significant Rebound on the Horizon?
Key Takeaways Recent data indicates Bitcoin shorts have escalated to unprecedented levels reminiscent of a major market low…
Google’s Gemini AI Predicts the Price of XRP, Solana, and Bitcoin by the End of 2026
Key Takeaways XRP’s Potential: Google’s Gemini AI forecasts XRP could reach $10 by 2026, leveraging Ripple’s payment solutions…
Top Analyst Warns Bitcoin Price Could Plummet to $10,000 Amid Deepening Bear Market
Key Takeaways Bitcoin’s value could potentially drop to $10,000 as part of an imploding bubble, suggests a renowned…
App