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On this episode of “An Ounce of Prevention,” host Andrew Good is joined by white collar defense and investigations partner Chad Silverman to discuss why prediction markets have become one of the hottest enforcement topics in the United States. The conversation covers how these platforms work; the debate over whether they fall under commodities, securities or gambling law; and the jurisdictional fight between the CFTC and state regulators now working its way through the circuit courts. The episode also dives into recent high-profile prosecutions, as well as pending congressional bills and the complex international regulatory landscape. Tune in for practical takeaways on how companies can update their insider trading policies to keep pace with this fast-growing and increasingly scrutinized market.
Episode Summary
Prediction markets have exploded from novelty to one of the hottest U.S. enforcement priorities. Host Andrew Good, head of Skadden’s European white collar defense and investigations practice, is joined by Skadden partner Chad Silverman to break down how prediction markets work and the jurisdictional battle between the CFTC and state gambling regulators. Chad walks through recent prosecutions built on misappropriated government and corporate information — including the first-ever use of the “Eddie Murphy Rule” — and shares practical compliance takeaways, from updating insider trading policies to pending congressional bills and the international regulatory patchwork facing multinational companies.
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