# Insider-trading rules on event contracts

What the Commodity Exchange Act, CFTC Rule 180.1 and the Kalshi and Polymarket US rulebooks prohibit, and what the cases published in 2026 show.

*https://predictionmarkets.tools/guides/insider-trading-rules-on-event-contracts · background to Prediction Market Venues*

**Answer:** Two layers apply. Federal law, through Commodity Exchange Act section 6(c)(1) and CFTC Rule 180.1, reaches trading on confidential information taken in breach of a duty, and separate provisions bar federal officials from trading on government information. Exchange rulebooks go further: Kalshi bars anyone holding material non-public information, any employee of the source agency and anyone able to influence the outcome. An offshore venue has only its terms, yet the CFTC has charged trades placed there.

## How it works

Two sets of rules apply to the same trade, written by different people and enforced by
different people, and a reader who knows only one of them will misjudge their position in both
directions.

**The statute and the CFTC's rule.** These apply to anyone, on any venue the Commission reaches,
and they are narrower than the everyday meaning of "insider trading". They are enforced by the
Commodity Futures Trading Commission in civil court or by administrative order, with criminal
cases brought separately by federal prosecutors.

**The exchange's rulebook.** This applies to the members of one designated contract market, and
it is usually wider than the statute: it can bar a person because of their job or their role in
the event, whatever they know. It is enforced by the exchange's own compliance department and
disciplinary panel, and the penalty is a fine and a suspension from that exchange.

An offshore venue has the second layer only in the form of its terms of use, and none of the
exchange-side duties a designated contract market carries. Each layer is taken in turn below.

## The federal layer: misappropriation, and government information

**The general rule is about deception, not about knowing more.** Section 6(c)(1) of the Commodity
Exchange Act, at
[7 U.S.C. 9(1)](https://www.govinfo.gov/content/pkg/USCODE-2023-title7/html/USCODE-2023-title7-chap1-sec9.htm),
makes it unlawful to use "any manipulative or deceptive device or contrivance" in connection with
any swap, any contract of sale of a commodity in interstate commerce, or any futures contract, and in the same sentence provides that no rule under it "shall
require any person to disclose to another person nonpublic information that may be material to
the market price". The rule the Commission wrote under it,
[17 CFR 180.1](https://www.govinfo.gov/content/pkg/CFR-2025-title17-vol2/xml/CFR-2025-title17-vol2-sec180-1.xml),
prohibits, when done intentionally or recklessly, a "manipulative device, scheme, or artifice to
defraud" in paragraph (a)(1) and any act that "operates or would operate as a fraud or deceit upon
any person" in paragraph (a)(3), and repeats the no-duty-to-disclose sentence as paragraph (b).

**What the CFTC has said those two paragraphs reach in event contracts.** The Division of
Enforcement's
[advisory of 25 February 2026](https://www.cftc.gov/PressRoom/PressReleases/9185-26) names the
theory: "misappropriation of confidential information in breach of a pre-existing duty of trust
and confidence to the source of the information (commonly known as 'insider trading')", under
section 6(c)(1) and Regulation 180.1(a)(1) and (3). The same advisory lists the other practices
the Commission polices on any designated contract market — wash and pre-arranged trading under
section 4c(a)(1) and (2)(A), disruptive trading under section 4c(a)(5), and fraud and manipulation
generally. The Division of Market Oversight's
[Letter No. 26-08 of 12 March 2026](https://www.cftc.gov/csl/26-08/download) repeats the
misappropriation sentence word for word and adds that "the Commission retains authority to
investigate and bring civil enforcement actions related to any such activity".

The element that does the work is **duty**. An employee who owes their employer confidentiality,
a service member who owes it to the government, a contractor under a non-disclosure agreement:
each has a source to breach. A person who worked something out from public material has none, and
the statute says in terms that they need not share it.

**Government information has its own provisions, and they do not need a duty argument.**
Section 4c(a)(3) and (4) of the Act, at
[7 U.S.C. 6c(a)](https://www.govinfo.gov/content/pkg/USCODE-2023-title7/html/USCODE-2023-title7-chap1-sec6c.htm),
make it unlawful for a federal employee, a Member or employee of Congress, or a judicial officer
or employee to trade a futures contract, an option or a swap on non-public information acquired
through their position (paragraph (3)), or to pass it to someone else to trade (paragraph (4)(A)).
Paragraph (4)(B) reaches the person who knowingly uses information passed that way, and paragraph
(4)(C) makes it unlawful for "any person" to "steal, convert, or misappropriate" information held
or created by a federal agency, Congress or the judiciary. The CFTC's release of 23 April 2026
calls its use of the government-information provisions "the so-called 'Eddie Murphy Rule'"
without citing the subsection by number.

**Which instrument the contract is matters to which text applies.** Every provision above is
written for futures, options and swaps. The CFTC's release of 28 August 2026 describes the
contracts in that matter as "event contracts (*i.e.*, swaps)". That is the Commission's
characterisation, and whether a given event contract is a swap is the question two federal courts
of appeals answered differently for sports contracts in 2026 — set out in
[Event contract or swap](https://predictionmarkets.tools/guides/event-contract-vs-swap).

## What an exchange rulebook adds

A designated contract market is a front-line regulator of its own market: Letter 26-08 reminds
exchanges that they must "conduct real-time monitoring of all trading activity" and may take
"disciplinary action" after an inquiry that can include "obtaining trader-level data". The rules
they enforce are their own, and the two rulebooks read for this page write them differently.

### Kalshi: three bars, two of them without a knowledge test

[Kalshi](https://predictionmarkets.tools/tools/kalshi)'s rulebook, version 1.29, puts the prohibitions in Rule 5.17, Prohibited
Transactions and Activities. Version 1.29 took effect on 17 August 2026 and was still the one
Kalshi posted on 4 October 2026. Its amendments were about block trades — Rule 5.17(b) among
them, and a carve-out in Rule 5.1 for block trades a broker submits for a customer who is a member
in its own right — and left 5.17(y) and (z) as they were. The only change to the rulebook's text filed since, on 18 September 2026, adds a
Chapter 14 for perpetual security futures and cites Rules 3.6 and 5.17 under the same numbers.

- **Rule 5.17(y), first half — holding the information.** An "Insider" is "any person who has
  access to or is in a position to have access to material nonpublic information before such
  information is made publicly available", and an insider with such information about a
  contract's underlying "is prohibited from attempting to enter into any trade or entering into
  any trade, either directly or indirectly". No duty element appears in the sentence. That is
  wider than the federal misappropriation theory above.
- **Rule 5.17(y), second half — the job.** "A Trader who is an employee or affiliate of a Source
  Agency for any Contract is prohibited" from trading that contract. This is a status bar: it
  applies whatever the employee knows. The source agency is named in each contract's terms (see
  [settlement source](https://predictionmarkets.tools/glossary/settlement-source)), and Kalshi publishes a combined list.
- **Rule 5.17(z) — the role.** A trader who "is a decision maker, either directly or indirectly,
  or has any influence, either directly or indirectly, no matter the scale and importance of the
  influence, on the outcome" may not trade that contract.

Rule 5.1 requires every member, and every customer reaching Kalshi through a futures commission
merchant or introducing broker, to have read and accepted the rulebook — and, for broker
customers, the "Source Agency Prohibition" by name. A broker's app is not a different rulebook.

One detail is worth knowing before searching the documents. The published source agency list
opens "Pursuant to Kalshi Rule 5.13(s)". In version 1.29, Rule 5.13 is the recordkeeping rule for FCM
customers' orders and the prohibitions sit at 5.17(y) and (z), which is where every 2026
disciplinary notice cites them. The rulebooks' own cross-references were off in the same way
when read on 4 October 2026: Kalshi's Rule 2.11(a) places its adopted Regulation 1.59 provisions
"in Chapter 11", which in version 1.29 is limitation of liability (they are Rule 12.1, in Chapter
12), and in the Polymarket US rulebook dated 30 September 2026 Rule 2.10(e) opens "For purposes
of this Rule 2.8", the emergency rules, while the definition of Source Prohibition points to Rule
2.9, the maintenance windows. Read the rule text, not the number.

### Sports contracts carry their own named list

Contract terms can add prohibitions on top of the rulebook, and the sports terms do. Kalshi's
terms for football game outcomes, filed as NFLGAME, open a section headed TRADING PROHIBITIONS
"in addition to the general prohibition against trading on material nonpublic information" and
bar, for the game in question:

- current and former players, coaches and staff of the participating teams (for college games,
  of the specific teams, not every player in the association);
- game officials, referees, replay officials and the assigned officiating crew, plus league
  officiating supervisors and evaluators;
- paid employees of the governing league or association, including league office staff,
  competition committee members and football operations personnel;
- team medical staff, athletic trainers, team physicians and anyone with access to non-public
  injury or health information about the players;
- ultimate beneficial owners of the teams and of the league;
- household members and immediate family — parents, siblings, spouses, domestic partners and
  children — of all of the above.

The same terms name the governing league first among the contract's source agencies, so a league
employee is also caught by the source-agency half of Rule 5.17(y). Letter 26-08 separately
encourages exchanges to look to "restricted or insider participants lists" kept by leagues and to
"cooperate with any league-run investigations". That is staff guidance, not a rule, and it
describes a direction of travel rather than an arrangement any exchange has confirmed in a filing
this page has read.

### Polymarket US: a duty test, a tip test and an influence test

[Polymarket US](https://predictionmarkets.tools/tools/polymarket-us), run by QCX LLC as a designated contract market, puts its
equivalents in Rule 7.2 of the rulebook dated 30 September 2026.

- **7.2(g)** bars an order "on the basis of confidential information relating to the outcome or
  likely outcome" of the event "where trading on such information would constitute a breach of a
  pre-existing duty of trust and confidence owed to another person or entity" — the federal
  misappropriation theory, written as an exchange rule.
- **7.2(h)** reaches the recipient: information obtained from, or an order "directed or solicited"
  by, someone who owed such a duty, where the participant "knows or has reason to know" the
  source could not have traded on it.
- **7.2(i)** bars a participant who "holds a position of authority or influence sufficient to
  affect the outcome", and anyone directed or solicited to trade by such a person.
- **7.2(j)** bars trading on non-public information about another person's impending transaction —
  front-running, in the ordinary term.

Two differences from Kalshi follow from the wording. Polymarket US asks whether a duty was
breached; Kalshi's insider sentence asks only whether you had the information. And Polymarket US
reaches the person acting at someone else's direction in so many words, where Kalshi reaches
indirect trading by the restricted person. Rule 8.15 requires final disciplinary actions to be
reported to the National Futures Association for its public database and posted on the exchange's
website.

## Offshore: terms of use, and the same statute

[Polymarket](https://predictionmarkets.tools/tools/polymarket)'s international site is not a designated contract market, and
nothing in the exchange-side duties above — real-time surveillance under the Commodity Exchange
Act, published disciplinary notices, a rulebook filed with the CFTC — applies to it as a matter of
law. What it has instead is its Terms of Use, which its Market Integrity page summarises as three
prohibitions closely matching Polymarket US Rule 7.2(g) to (i): trading on confidential
information in breach of a duty, trading on a tip from someone who owed one, and trading while
holding "a position of authority or influence sufficient to affect the outcome", or at the
direction of someone who does. The enforcement the page describes is the operator's own — it
states that the operator can "ban wallets, take legal action, or refer matters to law
enforcement" — and the referral counts it publishes are the operator's own figures, which this
page has not checked against any other record.

The page also works through examples, and two of the permitted ones show where the duty line
falls: an amateur meteorologist trading on a model built from public data, and a trader who
commissions a private poll with their own money. Both hold information others lack; neither owes
anyone a duty for it.

**Not being a regulated venue has not meant being outside the CFTC's reach.** The Commission's
complaints of 23 April and 27 May 2026 both concern trades on Polymarket's international site:

- **23 April 2026** ([release 9217-26](https://www.cftc.gov/PressRoom/PressReleases/9217-26)). The
  complaint, filed in the Southern District of New York, alleges that an active-duty US Army
  service member used classified non-public information about a US operation to buy more than
  436,000 Yes shares of the contract "Maduro Out by January 31, 2026?", and alleges more than 404,000 dollars of profit. The release calls it the first
  time the CFTC "has charged insider trading involving event contracts". The US Attorney's Office
  for the same district unsealed a parallel indictment the same day.
- **27 May 2026** ([release 9237-26](https://www.cftc.gov/PressRoom/PressReleases/9237-26)). The
  complaint alleges that a software engineer at Google, resident in Switzerland, traded at least
  twenty-three contracts on Google's 2025 Year in Search list using non-public information
  obtained through that employment, and alleges profits of approximately 1.2 million dollars. A
  parallel criminal complaint was unsealed the same day.

Both are allegations in pending cases, as the releases themselves present them, and neither is a
court's finding. What they establish is narrower and still useful: the Commission has filed
against conduct on an offshore venue, including by a person resident outside the United States,
and in both cases it identified the account behind a public trading record.

## What the published cases show

Kalshi's notices index lists eleven Notices of Disciplinary Action and Notices of Settlement
posted between 25 February and 31 August 2026, file numbers KDA-2026-0001 to KDA-2026-0011. Read by
the rule each cites:

- **Seven cite Rule 5.17(z) for a candidate trading their own race** — KDA-2026-0002 in February,
  0003 to 0005 in April, and 0007 to 0009 in August. Each states that the candidate, once listed as
  a market option, was a "decision maker" with "direct influence on the outcome of the Underlying
  event". KDA-2026-0003 applies the same reasoning to a market on who would run for office, traded
  before the person announced a candidacy.
- **Two are Rule 5.17(y) cases.** KDA-2026-0001, effective 25 February 2026, concerns a trader the
  CFTC's advisory of the same day describes as an editor for a YouTube channel who "likely had
  advanced knowledge of the contents of the channel's videos". KDA-2026-0011, posted 29 August
  2026, concerns a federal government employee and was settled alongside a CFTC order: the
  Commission's order of 28 August 2026
  ([release 9289-26](https://www.cftc.gov/PressRoom/PressReleases/9289-26)) finds that a White
  House teleprompter operator, between December 2025 and February 2026, traded presidential
  mention-market contracts using advance access to speeches "in breach of his duty of trust and
  confidence".
- **One combines influence with manipulation.** KDA-2026-0006, effective 28 August 2026, states
  that the Compliance Department "has established reasonable cause to believe" a member traded
  markets on his own attendance at the State of the Union address and then made public statements,
  "some of these included false or misleading statements", with "the intent to manipulate the
  price". It cites Rule 3.6(a), the duty to cooperate with an investigation, alongside the trading
  rules.
- **One, KDA-2026-0010, concerns improper access to another user's account**, plus prohibited
  trading on the member's own account that the notice does not describe, and is not presented as
  an information case.

The February advisory is the place where the two layers are joined explicitly: for the first two
notices, the Division of Enforcement wrote that the trader "potentially violated" section 6(c)(1)
and Regulation 180.1(a)(1) and (3), and that "while Kalshi's internal enforcement program handled
these matters", the Commission "has full authority to police illegal trading practices occurring
on any DCM".

## Officials: one rule in force, several bills

**The Senate has a rule.** [S.Res. 708](https://www.govinfo.gov/content/pkg/BILLS-119sres708ats/html/BILLS-119sres708ats.htm),
agreed to on 30 April 2026, adds paragraph 15 to rule XXXVII of the Standing Rules of the Senate:
no Member, officer or employee of the Senate may enter into a contract on an excluded commodity
"that is dependent on the occurrence, nonoccurrence, or the extent of the occurrence of a specific
event or contingency", with an exception only for insurance where the insured "holds a lawful
insurable interest". It is a ban on the instrument, not on information, and it is a Senate rule
— the Congressional Research Service's report R49266 of 17 August 2026 notes that it does not
extend to House Members, other legislative employees, or executive or judicial officials. The same
report summarises guidance from the Senate Select Committee on Ethics dated 5 May 2026, including
that existing positions had to be divested; this page has not read that letter directly.

**The bills are bills.** R49266 summarises, among others, H.R. 7004 (Public Integrity in Financial
Prediction Markets Act of 2026, introduced 9 January 2026), S. 4017 (End Prediction Market
Corruption Act, 5 March 2026), H.R. 8076 (PREDICT Act, 25 March 2026) and S. 4188 (Public Integrity
in Financial Prediction Markets Act of 2026, 25 March 2026). They differ in who they cover and
whether they turn on information or on the instrument: H.R. 7004 would bar covered officials from
trading contracts on government policy, government action or a political outcome while holding
relevant non-public information or able to obtain it in their duties, while S. 4017 would bar the President, the Vice President and
Members of Congress from trading event contracts at all. On Congress.gov's records read on 4
October 2026, the latest action on each of those four was referral to committee on the day it
was introduced. None of them is law, and none should be read as describing a reader's position
today.

## What it costs

These are the figures in the documents, each with its scope.

| Matter | Rule | Penalty as stated |
| --- | --- | --- |
| KDA-2026-0001 (Kalshi) | 5.17(y), 3.6(a) | 20,397.58 dollars, of which 5,397.58 disgorged profit and 15,000.00 penalty; 2-year suspension |
| KDA-2026-0002 (Kalshi) | 5.17(z) | 2,246.36 dollars, of which 246.36 disgorgement and 2,000.00 penalty; 5-year suspension |
| KDA-2026-0003 to 0005 (Kalshi) | 5.17(z) | 539.85 to 6,229.30 dollars, the largest plus disgorgement of profits; 5-year suspensions |
| KDA-2026-0007 to 0009 (Kalshi) | 5.17(z) | 2,589.96 to 31,770 dollars; 3-year suspensions |
| KDA-2026-0006 (Kalshi) | 3.6(a), 5.17(n), (y), (z), (cc) | 71,356 dollars; permanent suspension |
| CFTC order, 28 August 2026, with KDA-2026-0011 | CEA and Regulation 180.1 | 107,539.02 dollars disgorgement plus 65,000 dollars civil penalty; 3-year trading ban; separate 3-year Kalshi suspension |

Three things the table does not show. A Kalshi suspension is "from direct or indirect access" to
that exchange, which on its face includes access through a broker that routes orders to Kalshi. The CFTC described
its 65,000-dollar penalty as "a substantial discount" for cooperation, so it is not a schedule. And
the two pending complaints ask for restitution, disgorgement, civil penalties, trading and
registration bans and an injunction, alongside criminal cases whose outcome is for the court.

## What you can do about it

**Before trading a contract that touches your job, your sport or your campaign, read three things
in order.** First the contract's own terms, for a TRADING PROHIBITIONS section — on Kalshi the
[Kalshi API](https://predictionmarkets.tools/tools/kalshi-api) links each series to its filed terms, set out in
[how to read a market's rules from the API](https://predictionmarkets.tools/how-to/read-a-markets-rules-from-the-api). Second the
source agency named in those terms: if you work for it, Kalshi's Rule 5.17(y) bars you whatever
you know. Third, ask whether anything you do can move the outcome. Under Kalshi's Rule 5.17(z)
"no matter the scale", and under Polymarket US Rule 7.2(i) "sufficient to affect the outcome" —
the second is narrower on its face, and the safe reading of both is the wider one.

**Check who else the terms reach.** The football terms bar household members and immediate
family of players, officials, league staff and team medical staff, and former players of the
teams involved. If someone in your household is on that list, so are you, on that game.

**Read your employer's confidentiality policy, not just the venue's.** The federal theory and
Polymarket's rules both turn on a duty, and the duty usually comes from an employment contract,
a non-disclosure agreement or a security clearance. If your work gives you advance sight of a
release, a ranking, a speech, a transaction or a decision, the venue cannot tell you whether you
owe a duty about it; the document you signed can.

**Federal staff are a separate case.** The government-information provisions of section 4c(a)
cover employees of any federal department or agency, Congress and the judiciary, with no duty
argument needed. Senate staff are additionally barred from event contracts entirely by Senate
rule XXXVII, paragraph 15, whatever the contract is about.

**Treat a compliance enquiry as part of the rulebook.** Kalshi's Rule 3.6(a) requires members to
"cooperate promptly and fully" with any investigation, and two 2026 notices cite it as a
violation in its own right. On a designated contract market your identity sits behind every
trade from the moment of signup, as described in
[what you have to prove to trade](https://predictionmarkets.tools/guides/what-you-have-to-prove-to-trade).

**Do not read a small stake as a safe harbour.** Two April 2026 settlements record purchases of
less than 100 dollars each and five-year suspensions; two August 2026 settlements record less
than 1,000 dollars each and three-year suspensions.

**Offshore is not an exemption from the statute.** If the CFTC's position in its April and May
2026 complaints holds, the provisions above follow the information, not the venue. A wallet's
history on a public chain is permanent; both complaints identified the account behind one.

**If you are reading activity rather than trading it, keep the data and the inference apart.**
Polymarket's public [Data API](https://predictionmarkets.tools/tools/polymarket-data-api) returns trades, positions and holders
for any market; dashboards such as [Unusual Predictions](https://predictionmarkets.tools/tools/unusual-predictions) rank wallets
and flag "potential insiders" by threshold. Both report what an address did and when. None of
them knows who the address belongs to, what that person knew, or whether any rule above applied
to them — set out in [what wallet tracking shows](https://predictionmarkets.tools/guides/what-wallet-tracking-shows). A flag is a
reason to look at the record, not a finding about a person, and the regulator's and exchange's
documents listed here are the only places such findings are made.

## Tools this bears on

- [Kalshi](https://predictionmarkets.tools/tools/kalshi.md) — A CFTC-designated exchange for event contracts, settled in dollars against named sources.
- [Polymarket US](https://predictionmarkets.tools/tools/polymarket-us.md) — Polymarket's CFTC-designated US exchange — dollars, KYC, and no on-chain oracle.
- [Polymarket](https://predictionmarkets.tools/tools/polymarket.md) — Self-custody event contracts on an on-chain order book, resolved by the UMA oracle.
- [Kalshi API](https://predictionmarkets.tools/tools/kalshi-api.md) — REST, WebSocket and FIX access to a CFTC-regulated event exchange.
- [Polymarket Data API](https://predictionmarkets.tools/tools/polymarket-data-api.md) — Polymarket's keyless read API for trades, positions, holders and price history.

## FAQ

### Is it illegal to trade an event contract on information other people do not have?

Not by that fact alone. CFTC Rule 180.1(b) says nothing in the rule requires anyone to disclose material non-public information to the other side. What the CFTC has charged is misappropriation, meaning information used in breach of a duty owed to its source, plus the separate statutory bar on government information. Exchange rules can be stricter than that, and Kalshi's are.

### Can I trade a contract about my own employer if I know nothing confidential?

On Kalshi, not if your employer is the contract's source agency. Rule 5.17(y) in rulebook version 1.29 bars an employee or affiliate of a source agency from trading that contract outright, with no knowledge element in that sentence. Sports contract terms add their own named lists, which reach league staff, team medical staff and household members.

### Does trading offshore put me outside these rules?

Outside the exchange rulebooks, yes; outside the statute, the CFTC has acted as if not. Its complaints of 23 April and 27 May 2026 both concern trades placed on Polymarket's international site, and each was filed alongside a criminal case in the Southern District of New York. Both are allegations, not findings.

### Does a small position change anything?

Not under Kalshi's influence rule, which applies "no matter the scale and importance of the influence". Two settlements posted on 22 April 2026 each record a candidate buying less than 100 dollars of contracts on their own race, and each records a five-year suspension.

## Sources

1. [7 U.S.C. 9, prohibition regarding manipulation and false information (CEA section 6(c)), 2023 edition](https://www.govinfo.gov/content/pkg/USCODE-2023-title7/html/USCODE-2023-title7-chap1-sec9.htm) — U.S. Government Publishing Office, read 2026-10-04
2. [7 U.S.C. 6c, prohibited transactions (CEA section 4c), 2023 edition](https://www.govinfo.gov/content/pkg/USCODE-2023-title7/html/USCODE-2023-title7-chap1-sec6c.htm) — U.S. Government Publishing Office, read 2026-10-04
3. [17 CFR 180.1, prohibition on the employment of manipulative and deceptive devices](https://www.govinfo.gov/content/pkg/CFR-2025-title17-vol2/xml/CFR-2025-title17-vol2-sec180-1.xml) — U.S. Government Publishing Office, 2025-04-01
4. [Press release 9185-26, CFTC Enforcement Division Issues Prediction Markets Advisory](https://www.cftc.gov/PressRoom/PressReleases/9185-26) — Commodity Futures Trading Commission, 2026-02-25
5. [CFTC Letter No. 26-08, Division of Market Oversight prediction markets advisory](https://www.cftc.gov/csl/26-08/download) — Commodity Futures Trading Commission, 2026-03-12
6. [Press release 9217-26, complaint concerning event contracts tied to a US military operation](https://www.cftc.gov/PressRoom/PressReleases/9217-26) — Commodity Futures Trading Commission, 2026-04-23
7. [Press release 9237-26, complaint concerning search-ranking event contracts](https://www.cftc.gov/PressRoom/PressReleases/9237-26) — Commodity Futures Trading Commission, 2026-05-27
8. [Press release 9289-26, settled order concerning presidential mention-market contracts](https://www.cftc.gov/PressRoom/PressReleases/9289-26) — Commodity Futures Trading Commission, 2026-08-28
9. [KalshiEX LLC Rulebook, version 1.29 (no date in the document itself; the only exchange rulebook in Kalshi's public document store on 4 October 2026)](https://kalshi-public-docs.s3.amazonaws.com/regulatory/rulebook/Kalshi%20DCM%20Rulebook%20v.1.29.pdf) — Kalshi, read 2026-10-04
10. [KalshiEX LLC, Rule Amendments Regarding Block Trade Facilitation (the version 1.29 filing, effective 17 August 2026)](https://kalshi-public-docs.s3.amazonaws.com/regulatory/notices/Rulebook%201.29%20Filing%20-%20FCMs%20and%20IBs%20introducing%20Block%20Trades.docx.pdf) — Kalshi, 2026-08-03
11. [KalshiEX LLC, Self-Certification of New Rules for Perpetual Security Futures Products (new Chapter 14)](https://kalshi-public-docs.s3.amazonaws.com/regulatory/notices/KalshiEX_SFP_Rule_Submission_-_Chapter_14.pdf) — Kalshi, 2026-09-18
12. [Designated Contract Market Rules, filings by KalshiEX LLC (KEX)](https://www.cftc.gov/IndustryOversight/IndustryFilings/TradingOrganizationRules?Organization=KEX) — Commodity Futures Trading Commission, read 2026-10-04
13. [Kalshi Trading Prohibitions (the source agency list)](https://kalshi-public-docs.s3.amazonaws.com/kalshi-source-agency-trading-prohibitions.pdf) — Kalshi, read 2026-10-04
14. [Contract terms, NFLGAME (professional and college football game outcome)](https://kalshi-public-docs.s3.amazonaws.com/contract_terms/NFLGAME.pdf) — Kalshi, read 2026-10-04
15. [Exchange notices index, including Notices of Disciplinary Action KDA-2026-0001 to KDA-2026-0011](https://kalshi.com/regulatory/notices) — Kalshi, read 2026-10-04
16. [Polymarket US Rulebook (QCX LLC), Rule 7.2 Prohibited Practices](https://polymarketexchange.com/files/legal/latest/rulebook) — QCX LLC d/b/a Polymarket US, 2026-09-30
17. [Polymarket Market Integrity (rules under the Terms of Use, with worked examples)](https://integrity.polymarket.com/) — Polymarket, read 2026-10-04
18. [S.Res. 708, amending rule XXXVII of the Standing Rules of the Senate (agreed to)](https://www.govinfo.gov/content/pkg/BILLS-119sres708ats/html/BILLS-119sres708ats.htm) — U.S. Government Publishing Office, 2026-04-30
19. [Prediction Markets Legislation in the 119th Congress, R49266](https://www.congress.gov/crs_external_products/R/PDF/R49266/R49266.2.pdf) — Congressional Research Service, 2026-08-17
20. [H.R. 7004, Public Integrity in Financial Prediction Markets Act of 2026 (actions)](https://www.congress.gov/bill/119th-congress/house-bill/7004) — Library of Congress, read 2026-10-04

*Last updated 2026-10-04. A reference page, corrected in place — not a dated post.*