The explosive rise of prediction markets in the last two years has led to a host of legal questions, not the least of which is whether and how they will be subject to insider trading enforcement. Regulatory scrutiny may shift risk profiles for companies and require readjustments to training and compliance programs. In this guest article, Boies partner Blake Goebel, with the assistance of summer law clerk Will Randolph, examines court cases that shed light on how prediction market insider trading can and might be prosecuted under the wire fraud and Commodity Exchange Act statutes and the legal issues facing government enforcers. He also unpacks how such insider trading might create exposure for companies and suggests ways in which compliance programs can be adjusted to mitigate that risk. See “Takeaways From the CFTC’s First Whistleblower Interference Case” (Aug. 28, 2024).