Market Integrity, Manipulation, and Company Policy in Prediction Markets

Prediction markets are booming, and regulators, lawmakers, and enforcement agencies are racing to keep up.

In this prediction markets podcast series, Cleary partners Deborah North and Helena Grannis and counsel Brian Morris unpack the rapidly evolving legal and regulatory landscape surrounding these markets.

This episode examines company-driven event contracts and the jurisdictional line between CFTC and SEC oversight, including whether contracts tied to a company’s stock price, earnings, or corporate actions should be classified as security-based swaps. The discussion covers the sources of market-integrity controls for these contracts, from information-use restrictions to exchange-level manipulation safeguards, including the CFTC’s new staff advisory on “mention markets.” We also take a practical look at how companies are developing policies to govern employee participation in prediction markets.

Access the episode below, and subscribe to stay ahead of one of the most consequential regulatory developments in the derivatives space.

Select from the following links to listen:

• Amazon Music
• Spotify
• Apple Podcast

Listen to episode 1 of the series.