CFTC approved at least three Polymarket insider-trading investigations

  • CFTC approved at least three insider-trading investigations involving Polymarket event contracts.
  • Accounts in Iran-related contracts reportedly earned $2.4 million with a 98% win rate.
  • Southern District of New York prosecutors are conducting a parallel Google rankings investigation.

The Commodity Futures Trading Commission approved at least three previously unreported investigations into suspected insider trading in Polymarket event contracts, Wired reported. The inquiries concern markets tied to pardons granted by former President Joe Biden, Iran and Google's 2025 Year in Search rankings. CFTC Chairman Michael Selig approved the pardon-related investigation in early May after an NPR report identified a trader who earned more than $300,000 by correctly predicting several preemptive pardons. A second inquiry, approved later that month, followed a 60 Minutes report that accounts trading Iran-related contracts earned $2.4 million with a 98% win rate. The agency authorized a third investigation in July into trading linked to Google's 2025 Year in Search rankings. The Southern District of New York is conducting a parallel investigation, separate from the case against former Google engineer Michele Spagnuolo, who allegedly made more than $1.2 million using confidential information. Polymarket relaunched in the U.S. in late 2025 after acquiring QCEX, following four years outside the market.

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