CFTC warns insider trading in prediction markets is an enforcement priority

David Miller, director of enforcement with the Commodity Futures Trading Commission (CFTC) has made it clear that insider trading in prediction markets is an enforcement priority at the agency. “I’ve said publicly that our priority at the Division of Enforcement is policing fraud, abuse and manipulation,” said Miller, who was appointed earlier this year by CFTC Chairman Michael Selig. Prior to his appointment, Miller said, “there was a lot of confusion as to whether or not insider trading and market manipulation rules and laws applied to prediction markets.” In April, the CFTC brought its first insider trading case against an…