The post Congress targets prediction market insider bets after $400K Maduro bets appeared on BitcoinEthereumNews.com.

Less than a day after staking over $30,000 on Venezuela President Maduro’s exit on a new Polymarket account, a trader reportedly earned $400,000 as US authorities moved against the South American leader. His winnings have already drawn the attention of the online community and even Congress. Some lawmakers have shared their frustrations about insider trading. According to sources, Ritchie Torres (D-N.Y.) plans to introduce a bill that would restrict insider trading. The bill would prohibit federal lawmakers, political appointees, and executive branch staff from trading in prediction markets if they possess, or could reasonably be expected to obtain, material non-public information related to those contracts.  The Polymarket trader started placing bets on New Year’s Eve.  The Polymarket trader began wagering on Maduro’s removal on December 31, 2025, placing multiple bets that the leader would be ousted by the end of January, starting with a $1,238.34 bet on New Year’s Eve.  Earlier, speaking about the trader’s activity, left-wing political researcher Tyson Brody had even questioned whether this was some war-related insider trading. Later, sports and business commentator Joe Pompliano reshared Brody’s post, pointing out that the account reportedly earned $400,000 betting on Maduro’s removal. He even noted that prediction markets are now encouraging insider trading. Soon after, several X users jokingly speculated that the insider might be Barron Trump, the president’s son, while others focused on the $400,000 cash-out and additional big winners. Saturday’s focus on Polymarket comes on the back of mounting calls by US officials to rein in the platform and other prediction markets. Chris Christie, the former governor of New Jersey, had previously warned that sports-related prediction markets are growing too quickly, posing legal, economic, and ethical challenges while threatening state control and the integrity of sports. The former governor argued that prediction markets are operating unlawfully in…

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Filed under: News - @ January 4, 2026 5:57 am