Seven House Democrats have questioned the CFTC chairman regarding insider trading within prediction markets. While acknowledging the commission's authority, they raised concerns about its perceived lack of action against illicit trading activities, urging clarification on enforcement strategies.

Seven members of the House of Representatives recently expressed concerns to the Chairman of the Commodity Futures Trading Commission (CFTC). They affirmed the CFTC's power over prediction markets, which are platforms where people bet on future events. However, the Democrats also questioned why the commission has not acted more strongly against insider trading on these platforms. Insider trading happens when someone uses secret information to gain an unfair advantage. The representatives are seeking clarity on how the CFTC plans to tackle these issues and ensure fair play in these emerging markets.