GoKawiilCFTC opened three secret probes into Polymarket trading, FOIA records show
Documents obtained by WIRED via a Freedom of Information Act request reveal that CFTC chairman Michael Selig authorized at least three previously unreported investigations into trading on Polymarket. One order, signed in early May, targeted possible insider trading tied to Biden-era pardon markets, following an NPR report on a trader who made over $300,000 betting correctly on pardons for figures like Liz Cheney and Adam Schiff. A second order in late May authorized scrutiny of Iran-related event contracts, coming shortly after a 60 Minutes segment exposed accounts that earned $2.4 million with a suspicious 98 percent win rate.
GoKawiil's interpretation of the reporting above, not reported fact.
The disclosures suggest regulators are reacting to media investigations rather than proactively policing prediction markets, raising questions about how well the CFTC can detect manipulation on its own. As prediction markets grow in popularity and attract real money tied to political and geopolitical events, these cases test whether existing oversight tools are adequate to prevent insider trading in a largely unregulated corner of finance.
- FOIA documents reveal three unreported CFTC investigations into Polymarket trading activity.
- Probes followed media reports on suspicious trades tied to Biden pardons and Iran-related contracts.
- The pattern raises concerns that regulators are responding to journalism rather than independent detection of manipulation.
Source: wired.com — Kate Knibbs, 2026-09-11
Published there as: “The US Government Launched 3 Previously Unreported Investigations of Polymarket Trades”
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