Washington —
The top federal regulator for the rapidly growing prediction market industry vowed Thursday to crack down on insider trading, and said his agency is actively investigating hundreds of possible cases.
Commodity Futures Trading Commission chairman Michael Selig, who was appointed by President Donald Trump, tried to allay rising and bipartisan concerns about prediction markets, where traders can bet on everything from sports to elections, entertainment, the weather and sometimes even war.
“I want to be crystal clear to anyone who engages in fraud, manipulation, or insider trading in any of our markets: we will