Is War Becoming a Gambling Game? US Media Exposes Multiple Suspected Cases of "Insider Trading" Related to Iran Conflict
Xinhua News Agency, Beijing, April 10 - According to a report by the American Wall Street Journal on the 9th, more than $760 million in crude oil futures contracts changed hands about 15 minutes before U.S. President Trump suddenly announced a pause in strikes against Iran on March 23.
This is a street sign for Wall Street taken outside the New York Stock Exchange on January 18, 2022. Xinhua News Agency (Photo by Guo Ke)
On March 23, Trump posted on social media that the U.S. and Iran had engaged in "very good and productive" dialogue over the past two days, and the U.S. decided to "delay by 5 days" strikes on Iranian power plants. According to statistics from Dow Jones Market Data, more than $760 million in crude oil futures contracts changed hands in less than two minutes, about 15 minutes before Trump's post.
The report also revealed that this week, three accounts registered on the U.S. prediction market website profited over $600,000 from "precise bets" that the U.S. and Iran would announce a ceasefire.
The report stated that the unusual trading has raised widespread questions in the market, with suspicions that someone may have had advance knowledge of internal news regarding adjustments to Trump administration policies and took the opportunity to profit.
Some Democratic members of the U.S. Congress believe that since the prediction website allows users to bet anonymously and cash out, the current measures prohibiting federal government personnel from "insider trading" are not sufficient. Democratic U.S. Senators Richard Blumenthal and Angus King proposed a bill in March this year to comprehensively ban prediction markets from involving in wars or military actions. Blumenthal stated that prediction markets "are turning warfare into a gambling game." (Ocean)
On March 23, 2022, suspicious trading activities occurred in the U.S. involving over $760 million in oil futures just before President Trump's announcement to delay military action against Iran. Three accounts on a prediction market profited significantly by betting on a ceasefire, raising concerns about potential insider trading related to U.S. government decisions. Democratic lawmakers are calling for stricter regulations on prediction markets to prevent such activities.
- On March 23, 2022, over $760 million in oil futures contracts changed hands shortly before Trump's announcement to delay military action against Iran.
- Three accounts on a prediction market profited over $600,000 by betting on a ceasefire between the U.S. and Iran.
- There are concerns about insider trading related to U.S. government policy adjustments regarding Iran.