TechFlow reports that on January 28, according to Business Insider, the Coalition for Prediction Markets placed a full-page advertisement in The Washington Post, launching a multimillion-dollar public relations campaign to address recent controversies surrounding insider trading in prediction markets. Coalition members include Kalshi, Coinbase, and Robinhood.
This PR effort stems from a suspicious trade on the Polymarket platform: a trader reportedly earned over $400,000 by betting on the political future of former Venezuelan President Nicolás Maduro hours before his reported arrest by U.S. military forces—a transaction that has drawn widespread attention.
A coalition spokesperson stated that this advertisement marks the “starting point” for federal regulatory oversight of prediction markets, aiming to draw a “clear distinction” between regulated platforms and unregulated offshore platforms. Notably, Polymarket is not a member of the coalition, and the company has yet to issue any public statement regarding the Maduro trade controversy.
