Federal regulators and prediction-market exchange Kalshi are drawing attention to a pair of insider-trading cases, saying the actions show event-based markets are subject to the same rules as traditional derivatives platforms. The rollout, however, quickly met pushback from a journalist who argued that at least one of the headline examples had already been reported months earlier. On Wednesday (February 25), the Commodity Futures Trading Commission (CFTC) released an advisory outlining two enforcement matters that Kalshi had disclosed involving the misuse of non-public information. The agency said plainly that “the Commission has full authority to police illegal trading practices occurring on any DCM, including those described above related to prediction markets.” Kalshi used its own announcement to underscore that “we ban insider trading” and said it had launched about 200 investigations over the past year. More than a dozen of those inquiries led to formal enforcement actions, according to the company.…