CFTC probes Polymarket trades tied to Biden pardons, Iran and Google: Report

The Commodity Futures Trading Commission has launched at least three previously unreported investigations into suspected insider trading on Polymarket, according to a recent report from WIRED. The probes cover event contracts linked to pardons granted by former President Joe Biden, Iran and Google’s 2025 Year in Search rankings. CFTC Chairman Michael Selig approved the first investigation in early May, which followed an NPR report about a trader who earned more than $300,000 from pardon-related markets after correctly predicting several preemptive pardons. A second investigation, approved at the end of May, involved Iran-related contracts and followed a 60 Minutes report on accounts that reportedly earned $2.4 million with a 98% win rate. In July, the CFTC approved a third investigation into suspected insider trading involving Google’s 2025 Year in Search ranking. An agency official said the probe would examine additional individuals and noted that the Southern District of New York was conducting a parallel investigation. CFTC enforcement officials said the investigation was separate from an existing case against former Google engineer Michele Spagnuolo, who allegedly made more tha...