Federal authorities are investigating whether former Rep. George Santos profited from Kalshi bets on his own State of the Union attendance after publicly saying he planned to attend. Santos told NPR, “I’m not saying yes, I’m not saying no,” when asked whether he had a Kalshi account.
Posts tagged as “CFTC”
Oil futures experienced a sharp surge in trading volume just before President Trump announced "productive" peace talks with Iran, causing oil prices to drop and stock markets to rise, though the timing has raised suspicions of potential insider trading. The ongoing U.S.-Iran conflict has driven significant volatility in oil prices, with Brent and WTI crude rising over 30%, amid disruptions in the Strait of Hormuz and mixed signals about peace negotiations. This geopolitical uncertainty continues to fuel market instability, influencing inflation expectations and central bank policies while prompting offers of mediation and fluctuating investor confidence.
Key takeaways: The FTC has proposed a new rule that would ban hidden and bogus fees that can cost consumers an extra $80 billion every…
The FTC and 17 state attorneys general have filed an antitrust case against Amazon, alleging the company has used its market power to maintain higher prices and harm customers and rivals. FTC Chair Lina Khan noted the immediate harm of Amazon's alleged anti-competitive practices, and the lawsuit seeks to hold the company accountable and restore the competitive conditions that existed before its conduct. This case is the latest in a series of antitrust actions taken against tech giants and could have far-reaching implications for the industry.
Alexander Mashinsky, the former CEO of Celsius Network, was arrested on Thursday on federal fraud charges. The Federal Trade Commission (FTC) alleged that Mashinsky misled customers about key aspects of the business and illegally manipulated the price of Celsius’s proprietary crypto token. The company agreed to pay a $4.7 billion settlement with government regulators, one of the largest in the FTC’s history, and the settlement highlights repeated deceptions by Celsius and Mashinsky. The indictment against Mashinsky is a sign that the government is taking a hard line against crypto-related fraud.
The Federal Trade Commission has filed a lawsuit against Amazon, accusing the online retailer of using deceptive tactics to enroll consumers into its Prime program without their knowledge and making it difficult for them to cancel their subscription. FTC Chair Lina Khan said Amazon has been "tricking and trapping people into recurring subscriptions without their consent," and the FTC is seeking a court order to stop Amazon from using deceptive tactics and to provide refunds to those affected.
The CFTC has filed a complaint against Binance and its CEO Changpeng Zhao, alleging that the world's largest cryptocurrency exchange has violated US trading laws by actively soliciting US customers and subverting its own compliance program. The complaint seeks civil monetary penalties and other relief against Binance, Zhao, and former Chief Compliance Officer Samuel Lim, and could be the first step in a larger regulatory crackdown on the crypto exchange. Binance has stated that it is committed to complying with all applicable laws and regulations, and has implemented measures to ensure compliance with US regulations.