Insider traded is expected not illegal in commodity trading.
The market is intended to support consumers and producers of the commodity and there’s no requirement for either of them to inform the market of their intentions or information prior to a trade.
If a coffee growers knows a blight is killing their crops they can buy millions of futures before informing the market.
The bar for insider trading is higher but it’s not missing. Governmental employees for instance have explicit laws about their behavior as insider trading in commodities.
The CFTC, since Trump, has become entirely corrupt. Note that the proliferation of sports gambling in prediction markets, which is explicitly illegal, largely exists because the CFTC refuses to enforce their own legal mandate against Kalshi and Polymarket.
It’s actually worse; when states try to shut down sports betting in prediction markets, the CFTC fights on behalf of Kalshi with the reasoning that only the federal government has the mandate to regular futures and prediction markets. And then they refuse to regulate!
The CFTC is supposed to have 5 chairs, with no more than 3 in the same party. The administration has gotten around this rule by simply removing 4 of the commissioners and then refusing to appoint replacements. In effect, the CFTC has only 1 republican chair and no opposite party representation. The level of corruption is staggering.
> sports gambling in prediction markets, which is explicitly illegal
It’s a bit more complicated than that. The CFTC argues that under Dodd-Frank any bet on a future event that can have economic consequences is regulated by the CFTC.
It’s a bit silly because this obviously wasn’t the intention of the legislation, and it would also mean anyone betting outside a CFTC regulated exchange is in illegality. But it’s valid enough that The case will probably go to the Supreme Court.
Even if they win, you're being extremely optimistic about what they'll do. Most of them are only slightly less corrupt than this, and definitely not enough to actively punish corruption. Most times they just say "let's move on" and grant a pardon.
> Most of them are only slightly less corrupt than this, and definitely not enough to actively punish corruption.
This feels like one of those "and that's why I blame the Democrats for everything Trump does, so I guess I have to vote for Trump's enablers" bit of horseshit, fwiw.
Both parties are completely in the pocket of special interests (billionaires, Israel, among others), however on the corruption file the GOP has an absolute monopoly. The corruption in the modern Republican party is simply off the charts. And this presidency has turned the corruption to the max, in the open. Every criminal knows that if you think you're going to get caught, the first thing to do is profess your love of Trump and declare yourself a Republican, and in a moment your crimes will be exonerated and it will all be called "lawfare".
> Most times they just say "let's move on" and grant a pardon.
The Democrats have constantly tried to be the "high road" party. The law and order, let the process run out party. The "let's make bridges and not walls" party. The Republicans have completely taken advantage of it. If they take power -- which I think there is going to be a "Surprise" by this criminal fascist -- they need to go absolutely scorched Earth. And screw slow walking with some Merrick Garland type of snail, speed-run sending every Trump and enabler to jail. Hegseth needs to spend his remaining days rotting in a dungeon.
I mean, Trump still sincerely calls Democrats "divisive". From the guy who gets his chuckling audience of halfwits to cheer on blowing up American cities, and who constantly attacks and disparages "blue states" and their residents.
I cannot for the life of me understand how Americans in the better states aren't talking about secession. You simply must send some of the ignorant, garbage states packing.
Depends on who actually gets elected. A centrist candidate like Buttigeg/Ossoff/Harris/Newsom would almost certainly lead to no prosecutions. Someone with actual convictions like AOC or Ro Khanna might.
They're simply in the oligarch level now. Everyone understands that they're above the law. Nowhere near enough Democrats are talking about the level of corruption clearout that would be required to bring accountability. Law enforcement are heavily compromised in the opposite direction. See the raid on Ilhan Omar, for example.
The reason America is great is that even after electing such a corrupt president twice, the country still keeps running.
I feel the greatness of the American political system.
The counterfactual doesn't make sense. Which country would stop or grind to a halt after electing a corrupt president? I think almost all countries would keep running at a basically normal capacity until failure, yet that doesn't prove those countries have great systems.
This will need a lot more time and hindsight to make general statements in terms of the wider picture.
have you looked closely at the state of your institutions lately. 'The country keeps running' .. a large thing has quite a lot of momentum, it will travel quite far from that alone even if you do remove it's kneecaps.
The billions diverted from the government (tariffs, Venezuelian oil, etc) to enrich his own family and friends probably won’t make a dent in the American economy.
America is so great , it can sustain the appetite of corrupt presidencies.
And the answer is, largely, nothing.
It’s a shame, really.
https://www.wsj.com/articles/SB10001424052702303851804579560...
I guess you are asserting that this other thing is equivalent to that?
(edit: /s but not about making the government some money off this corruption)
The market is intended to support consumers and producers of the commodity and there’s no requirement for either of them to inform the market of their intentions or information prior to a trade.
If a coffee growers knows a blight is killing their crops they can buy millions of futures before informing the market.
It’s actually worse; when states try to shut down sports betting in prediction markets, the CFTC fights on behalf of Kalshi with the reasoning that only the federal government has the mandate to regular futures and prediction markets. And then they refuse to regulate!
The CFTC is supposed to have 5 chairs, with no more than 3 in the same party. The administration has gotten around this rule by simply removing 4 of the commissioners and then refusing to appoint replacements. In effect, the CFTC has only 1 republican chair and no opposite party representation. The level of corruption is staggering.
It’s a bit more complicated than that. The CFTC argues that under Dodd-Frank any bet on a future event that can have economic consequences is regulated by the CFTC.
It’s a bit silly because this obviously wasn’t the intention of the legislation, and it would also mean anyone betting outside a CFTC regulated exchange is in illegality. But it’s valid enough that The case will probably go to the Supreme Court.
not slightly. Just less openly.
And given how there's no punishment for the current regime, they might start thinking they could also get away.
Americans need to take a page out of france. Look at how they protest!
This feels like one of those "and that's why I blame the Democrats for everything Trump does, so I guess I have to vote for Trump's enablers" bit of horseshit, fwiw.
Both parties are completely in the pocket of special interests (billionaires, Israel, among others), however on the corruption file the GOP has an absolute monopoly. The corruption in the modern Republican party is simply off the charts. And this presidency has turned the corruption to the max, in the open. Every criminal knows that if you think you're going to get caught, the first thing to do is profess your love of Trump and declare yourself a Republican, and in a moment your crimes will be exonerated and it will all be called "lawfare".
> Most times they just say "let's move on" and grant a pardon.
The Democrats have constantly tried to be the "high road" party. The law and order, let the process run out party. The "let's make bridges and not walls" party. The Republicans have completely taken advantage of it. If they take power -- which I think there is going to be a "Surprise" by this criminal fascist -- they need to go absolutely scorched Earth. And screw slow walking with some Merrick Garland type of snail, speed-run sending every Trump and enabler to jail. Hegseth needs to spend his remaining days rotting in a dungeon.
I mean, Trump still sincerely calls Democrats "divisive". From the guy who gets his chuckling audience of halfwits to cheer on blowing up American cities, and who constantly attacks and disparages "blue states" and their residents.
I cannot for the life of me understand how Americans in the better states aren't talking about secession. You simply must send some of the ignorant, garbage states packing.
They're simply in the oligarch level now. Everyone understands that they're above the law. Nowhere near enough Democrats are talking about the level of corruption clearout that would be required to bring accountability. Law enforcement are heavily compromised in the opposite direction. See the raid on Ilhan Omar, for example.
This will need a lot more time and hindsight to make general statements in terms of the wider picture.
And in the end, that is the game they are playing. Starve the beast (aka, the US government) until not much more than the military remains.
unless you dropped the '/s' ?
America is so great , it can sustain the appetite of corrupt presidencies.