But politicians can buy stocks legally with the information they have access to? Okay.
497
MadRoboticist17 hr ago
+93
Well I think technically it is illegal, there's just conveniently no punishment or enforcement mechanism built into the law.
93
Grizzwold3717 hr ago
+40
It is not technically illegal. There is no legal prohibition on it, because it isn’t technically insider trading.
40
MadRoboticist16 hr ago
+22
It absolutely is illegal. Congress passed a law that says lawmakers and their staff are not exempt from insider trading laws.
22
suspicious_hyperlink13 hr ago
+9
We need a congress 2 to enforce the laws on congress
9
Fallouttgrrl10 hr ago
+4
"who congresses the Congress"
4
Grizzwold3716 hr ago
+14
And those laws are respective of *company* information, not government information.
14
MadRoboticist16 hr ago
+3
No it isn't. It encompasses any non-public information which includes government activities.
3
idkwthtotypehere17 hr ago
+9
How is it not insider trading? They are acting on confirmed information that is not public… that’s insider trading.
9
Grizzwold3716 hr ago
+1
I think Google is a friend here. Insider trading is about having inside knowledge of corporate facts. Proprietary, private, commercial. Not about lawmakers having insider knowledge of laws or upcoming decisions or public policy.
1
idkwthtotypehere16 hr ago
+15
That’s such a bullshit side step. Quite often they will purchase stock right before a government contract is announced, which is in fact insider trading.
15
Grizzwold3716 hr ago
+4
It is not. The government isn’t a business, and the SEC doesn’t govern government contracts. If the knowledge had come from special knowledge of a company’s finances or business intentions, etc, then it would be.
Yes, it’s a bullshit sidestep. Which is why it’s such a blatant problem. A bunch of f****** lawyers who vote on laws somehow have a way around the law that’s perfectly legal, and have zero intention of closing that loophole. Color me shocked.
4
jeffscience14 hr ago
+6
If you’re a customer of a company and you trade on your unaccounted contracts with them, that’s insider training. Same for partners and even competitors.
6
Deep_Stick87868 hr ago
-2
Its bullshit because its not fair, but its distinct activity from insider trading
-2
Impressive-Weird-90816 hr ago
+1
They are still prohibited from doing this by a different law called the STOCK act. But it has funny things like a $200 fee for not disclosing trades on time. If you adjust the median net worth of a senator to the average American, it’s a fine of around $9, or less than the cost of a Big Mac combo meal.
1
Grizzwold3716 hr ago
+1
Maybe I’m lacking sufficient background on this STOCK act, but the example you gave doesn’t have any bearing on legality of trading, but rather only addresses how quickly they must disclose their trades.
1
Impressive-Weird-90815 hr ago
+1
It also bans them from using information gained from their position to make stock trades.
1
Fallouttgrrl10 hr ago
+2
"we just made up a new term for inside trader gambling, so it's okay"
2
VegasRoomEscape8 hr ago
+1
It's not illegal at all. There is no specific statute against it and the Supreme Court went for a fairly narrow definition of existing insider trading statutes that doesn't include legislators trading on pre-decisional government information.
1
SideburnSundays17 hr ago
+12
And America can kidnap foreign presidents. But poors placing bets on that kidnapping? ILLEGAL!
12
Caymonki16 hr ago
+4
While on the clock too, not everyone can make money while they make money and vacation.
Crazy right? They don’t think so!
4
EddieCheddar8815 hr ago
+108
Super cool to know we have the ability to instantly track this kind of thing down. Especially when we’ve seen astronomical trades on oil futures the last few weeks that make this trades’ earnings seem like dog food.
108
Least-Worth-86348 hr ago
+23
Right, kalshi is made for insider trading, we just can't have some commoner profiting off it
23
IPissExcellentThrows7 hr ago
+1
Oil futures happen on actual exchanges that we've been tracking for decades. Even easier haha.
1
BrandonLang17 hr ago
+126
This is literally just to show us that we have no and cant get no power. We're not in their club, even elite soldiers are not welcome... its a warning for us to stay in our place and remember who owns us.
126
Hadrian2315 hr ago
+27
Bold strategy to tell that to the guys that hold the guns, lol.
Joking aside, you're not wrong.
27
drinkduffdry17 hr ago
+98
Ok, now do Trump's kids
98
O_PLUTO_O17 hr ago
+44
Trump already did
44
powerlesshero11117 hr ago
+25
Just Ivanka
25
jazzhandler16 hr ago
-14
[citation needed]
-14
gilm_77719 hr ago
-4
Ok, now do Pelosi and her husband.
-4
bigtallbiscuit9 hr ago
+11
Do all of them. Who gives a shit which political party they’re from.
11
Bruins87638 hr ago
+2
Lmao see this is the dumb republicans problem. You turn into a bunch of ‘Panicans’ and attack Dem politicians in response to Donny your God even being questioned. Difference is, we want BOTH sides held accountable, and face their punishment regardless of party affiliation, or who they know.
2
BabypintoJuniorLube7 hr ago
+1
As a liberal I would cheer so hard to see Bill Clinton in prison, and Pelosi and Schumer out on their ass. I would also have the wherewithal to recognize the legitimately impressive things Pelosi did throughout her career while understanding she is now very much a part of problem and needed to be gone over a decade ago.
1
Ok_Breakfast758817 hr ago
+29
If you can't offer a secure line then don't. It's absurd that people get punished in order to protect bets that do not need to be offered.
29
prolog13 hr ago
-9
How is everyone is this thread too dumb to understand that betting on secret military operations is leaking classified information? You realize that if your trading activity is so obviously based on inside information that polymarket noticed and ratted you out to the DoJ then hostile actors can also make the same observation right?
-9
generationhex16 hr ago
+12
they hold no leverage over a soldier but they have potential blackmail if they catch any high level politicians doing this. don't forget that don jr sits on the board of these scams. zero chance he doesn't use that while making an example of these street level soldiers and state level candidates that are doing the same thing.
12
EddieCheddar8815 hr ago
+3
He’s digging his own grave with precedence
3
kstargate-42515 hr ago
+11
Absolutely insane they go after this guy and just shows Trump is jealous of and hates soldiers considering his sons or someone close to him has been making BILLIONS off of manipulating the market and insider trading 5-20mins before his foreign policy tweets.
Just the past 30 days saw BILLIONS being made by 1-3 people with the first being March 23rd when 5mins before Trumps tweet announced halts on striking Iran someone placed a $1.5 BILLION bet on stocks going up and dumped $192 million in oil.
Then last Friday the 18th, an investor sold a combined 7,990 lots of Brent crude futures, a $760 million bet that oil would go down only 20 minutes before Trump said the Strait of Hormuz was open again.
I guess they didnt give the big man his vig for the market manipulations like the others did...
11
prolog13 hr ago
-11
The issue is leaking classified information through your unusual betting activity, not insider trading you idiot.
-11
kstargate-42512 hr ago
+4
I see no "leaked classified info" you "idiot"
>The case marks the first time that the Justice Department has filed insider trading charges involving a prediction market platform, and comes as such platforms are attracting increased scrutiny from lawmakers
🤔
4
DataCassette17 hr ago
+20
Trump does market manipulation with his idiot friends and family on every day that ends in 'Y' but some random soldier is charged for a single Kalshi bet? F*** that.
20
Healthylife5516 hr ago
+19
dude literally tried to bet on his own mission, what the f***
19
snydamaan15 hr ago
+9
The only comment with any condemnation. Can we all agree it’s wrong no matter who does it?
9
Desblade1019 hr ago
+2
I thought it was okay to bet on your own mission as long as you think it will succeed.
If in playing basketball and I bet that I'll win that seems fine, but if I bet that I'll lose then I can just throw the game and make my money.
2
dah-dit-dah6 hr ago
+1
Since when is betting on yourself to succeed morally dubious?
1
Flokithedog13 hr ago
+2
I'd much rather this guy, who did an actual raid for his money get to keep it, than the rats in congress who do this every single month and become multi millionaires on a 200k salary.
2
Morganrow17 hr ago
+7
You're telling me that our soldiers have issues? Do you think maybe it's because they spend every waking moment of their day wondering why they sacrifice everything and kill for this American government?
7
Alwayssunnyinarizona17 hr ago
+15
Might be because they see their higher ups getting away with all sorts of shit.
15
Safe_Procedure99917 hr ago
+13
i do not believe that the dude using classified info to insider trade on polymarket and kalshi was doing this out of some noble internal conflict with the military
13
Public-Position771117 hr ago
You were never a soldier, were you?
0
Morganrow14 hr ago
+2
Do you need to steal from someone to know that theft is bad?
2
DrRussleJimmies17 hr ago
-5
Probably not. If they were capable of that level of thinking they wouldn't be in the military to begin with.
-5
Grizzwold3717 hr ago
+12
Shittiest take.
A society that separates its scholars from its warriors will have its thinking done by cowards and its fighting done by fools.
It’s far more likely that there are plenty of intelligent people in the military, fully capable of introspection, who equally recognize that the pursuits of their entire adult lives would go up in smoke the second they raise a finger in protest.
12
Morganrow17 hr ago
+5
Agreed. Disloyalty to the administration might as well be a cardinal sin
5
DrRussleJimmies15 hr ago
+2
You're talking as if that's not already reality. Guess all of humanity forever has had their thinking done by cowards and their fighting done by fools.
2
Morganrow15 hr ago
+5
We've already seen politicians and military officers threatened with court marshal for simply telling troops to not follow illegal orders. Orders that go against the fiber of their existence as Americans
5
Grizzwold3715 hr ago
+2
You must not spend much time around people in the military, I suppose. Anybody can sit around and assume they’re all dumbasses, so you’re not special by any stretch
2
hollow_runner1317 hr ago
+3
So a random soldier’s tiny prediction bets get policed, but Congress can legally day-trade defense stocks. Cool system. At minimum, ban trading individual stocks for elected officials and top staff.
3
steathrazor14 hr ago
+2
How dare some poor inside trade and make some money that's our thing /cries in US government /s
2
Glad-Assist-623014 hr ago
Railing against the wrong thing bro. Corruption is the problem
0
steathrazor11 hr ago
+3
Sarcasm was not strong enough for you I guess
3
oneonus9 hr ago
+1
Yet those in the white house and their friends do the same and nothing happens to them.
Just like the poor and middle class pay taxes, the rich pay accountants, the very rich pay lawyers – and the ultra-rich pay politicians.
The more money billionaires accumulate, the greater their control of the political system – which means they pay less tax, which means they accumulate more, which means their control intensifies and they get away with everything.
1
Burius817 hr ago
+1
Politicians can gamble on world events but not the poors.
1
gurjitsk15 hr ago
+1
They’re going to throw the book at this guy. He’s going to jail for a long time. Just to show us we’re not allowed, but the elites can do it freely. Bs
66 Comments