WATCH: Congressman Sorensen Works to Crack Down on Insider Trading in Prediction Markets
WASHINGTON, DC – Congressman Eric Sorensen (IL-17) pressed Commodity Futures Trading Commission (CFTC) Chairman Selig about the agency’s ability to crack down on insider trading in prediction markets. The Congressman highlighted the need for additional enforcement staff at CFTC to properly enforce laws that are meant to prevent insider trading.
“My neighbors are angry that while we work hard to make ends meet, federal employees in Washington are using insider trading to line their own pockets. It’s unacceptable,” said Congressman Sorensen. “I’m working to ensure that the agency responsible for investigating and prosecuting insider trading in prediction markets has the staff it needs to crack down on illegal betting schemes and ensure fairness in trading markets for Americans.”
Watch Sorensen’s full line of questioning here.
Congressman Eric Sorensen represents Illinois’ 17th District in the United States House of Representatives. Prior to serving in Congress, Sorensen was a local meteorologist in Rockford and the Quad Cities for more than 20 years. His district includes Illinois’ Quad Cities, Rockford, Peoria, and Bloomington-Normal.
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