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Boosted by soatok@furry.engineer ("Soatok Dreamseeker"):
molly0xfff@hachyderm.io ("Molly White") wrote:

The DOJ and CFTC are going after a US soldier who allegedly used his access to confidential military information to profit more than $400,000 on Polymarket bets. They are not going after Polymarket, which is supposed to prohibit US bettors, and whose advisory board includes Donald Trump Jr.

“The whole world, unfortunately, has become somewhat of a casino,” said former casino tycoon and current President Trump.

“I don’t like it,” said the man whose own social media platform has announced plans to launch a crypto-based prediction market feature.

#crypto #cryptocurrency #USpol #USpolitics #CitationNeededNewsletter

In prediction markets The Justice Department has brought charges11 and the CFTC has filed a lawsuit12 against a US soldier who placed bets on Venezuela-related Polymarket contracts while helping plan the operation to capture Venezuelan President Nicolás Maduro. The soldier, Gannon Ken Van Dyke, allegedly made nearly $410,000 on the bets, then transferred the funds to a brokerage account and made a few clumsy attempts to erase his tracks. Van Dyke has pleaded not guilty. Notably absent is any action against Polymarket. The New York-based platform agreed to stop serving US customers in a 2022 CFTC settlement, but its easily bypassed geofencing continues to allow widespread American access. Federal agencies have previously prosecuted firms for such inadequate controls, but appear unconcerned with Polymarket — where President Trump’s son, Donald Trump Jr., is an investor and advisory board member.
“The whole world, unfortunately, has become somewhat of a casino,” said former casino tycoon and current President Trump. “And you look at what’s going on all over the world in Europe and every place, they’re doing these betting things,” he said, referring to a continent where at least ten countries have broadly banned prediction markets as unlicensed gambling websites even as the federal regulator he appointed embraces them and sues states that try to apply oversight via their existing gambling laws. “I don’t like it, conceptually, but it is what it is. No, I think that I’m not happy with any of this,” said the man whose own social media platform has announced plans to launch a crypto-based prediction market feature and whose son is an adviser and investor in Polymarket and a paid adviser to Kalshi. Trump later backpedaled on his comments, arguing that the US risks being left behind by other countries that permit such platforms. “I know people that are in the prediction market business, and they’re pretty happy with it,” he added.13