Bobby Allyn, reporting for NPR:
An editor who works for YouTube’s biggest creator, MrBeast, has
been suspended from the prediction market platform Kalshi and
reported to federal regulators for insider trading, Kalshi
officials said on Wednesday. It’s the first time the company has
publicly revealed the results of an investigation into market
manipulation on the popular app.The MrBeast employee, who Kalshi identified as Artem
Kaptur in regulatory filings, traded around $4,000 on
markets related to the streamer, the company said. Kalshi
investigators discovered that Kaptur had “near-perfect trading
success” on bets about the YouTuber’s videos with low odds, making
the wagers appear suspicious, according to company officials.
Call these things what they are — prediction casinos, not prediction markets — and the problems come into focus.
