MEMBER HIGHLIGHT - SER member Gontran de Quillacq recently shared an article titled "Three Predictions, Three Duties, One Unsettled Market." He examines three landmark enforcement actions that have transformed prediction market insider trading from a theoretical concern into an active federal priority. He also addresses a new form of market manipulation with no direct securities law equivalent - bettors threatening journalists to influence the settlement of their contracts - drawing a parallel to Enron's pressure campaign against a Fortune article in 2001. He concludes that the legal framework governing these cases is still being written in real time, with key questions around duty, materiality, and damages remaining unresolved, and identifies where expert witness demand in this space is likely to emerge next. Gontran is the Managing Partner of Navesink International. You can read the full article on his website along with other insights on his blog.
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