the lawmakers requested that the CFTC and OGE provide a staff-level briefing on this issue and respond to questions regarding any existing investigations into federal employees engaging in insider trading in prediction markets and any steps the agencies may have taken to detect and prevent them from doing so.
Request a staff-level briefing from regulators on insider trading in prediction markets by federal employees and on agency steps to detect and prevent it.
Occurrences
Evidence
On March 30, 2026, Senator Jeff Merkley, along with over 40 other lawmakers, sent a letter to the Commodity Futures Trading Commission (CFTC) and the Office of Government Ethics (OGE) urging the agencies to address illegal insider trading in prediction markets by federal employees. The letter requested that the CFTC and OGE issue guidance reminding federal employees of their legal obligation to refrain from using insider governmental information for personal gain in prediction market trades. Additionally, the lawmakers requested a staff-level briefing on the issue and responses to specific questions regarding existing investigations and preventive measures.
On March 31, 2026, CFTC Director of Enforcement David I. Miller delivered remarks at NYU Law School, emphasizing the agency's commitment to addressing insider trading in prediction markets. He stated that insider trading in these markets is illegal under the Commodity Exchange Act and CFTC regulations, and that the agency will aggressively detect, investigate, and prosecute such violations. Miller also highlighted the importance of cooperation with exchanges and other regulatory bodies to maintain market integrity.
Assessments
Senator Merkley, along with other lawmakers, formally requested a staff-level briefing from regulators (CFTC and OGE) on insider trading by federal employees in prediction markets and asked for agency responses to specific questions, directly matching the campaign promise. The evidence confirms the letter's dispatch and public acknowledgement from regulatory leadership, indicating the request was made as promised, fulfilling the commitment.
Senator Jeff Merkley co-authored a letter to the CFTC and OGE that specifically requested a staff-level briefing on insider trading in prediction markets, matching the core of the campaign promise. The evidence shows that regulators acknowledged the issue and discussed enforcement priorities in public remarks, signaling engagement with the topic. However, there is no direct evidence confirming that a staff-level briefing was actually held in response to the lawmakers' request, nor that agency steps were specifically disclosed in such a staff-level setting to Merkley or his staff. Therefore, serious and appropriate legislative effort was made, but the full delivery of the promise remains unconfirmed.
Senator Merkley, along with other lawmakers, explicitly requested a staff-level briefing from relevant agencies (CFTC and OGE) regarding insider trading in prediction markets by federal employees. The agencies responded substantively to the issue, with the CFTC's Director of Enforcement giving public remarks outlining enforcement priorities and commitment to prevention and detection. Although the evidence does not confirm the exact format or date of the staff-level briefing, the legislative request and substantive agency response together fulfill the core of the promise as stated.