Course Overview
This course covers insider trading under the Commodity Exchange Act, the key differences from securities law, the regulatory status of event contracts, how the rules apply to prediction markets, the enforcement landscape, and illustrative real cases. We also will explore the three primary ways misconduct is prosecuted: criminal cases brought by the Department of Justice, regulatory enforcement actions brought by the CFTC, and penalties or fines issued by self-regulatory authorities.
Course duration: 40 minutes
Key Takeaways
Upon successful completion of the course, learners will:
- Differentiate insider trading rules in the futures markets from those in equities and other asset classes and explain the regulatory rationale for those differences.
- Apply relevant rules and guidance from CFTC, NFA, and exchanges to real-world scenarios.
- Define an event contract and recognize its regulatory status as a swap on a DCM.
- Distinguish traditional futures contracts from prediction-market event contracts.
- Explain how CFTC Insider Trading rules apply to Prediction Markets.
- Identify the roles of DOJ, CFTC, NFA and DCMs in insider-trading enforcement.
Course Details
Beginning with the CFTC's February 2026 advisory on prediction markets and two notable enforcement cases, this course examines how information-based trading is regulated in derivatives markets. Participants will explore the differences between securities and derivatives market rules, the application of insider trading concepts to futures and prediction markets, and the enforcement standards that govern misuse of material nonpublic information. Each section is anchored by real enforcement cases, giving participants practical insight into how the rules are applied in practice.
- Why This Matters in 2026
- Futures vs. Securities Insider Trading Law
- Prediction Markets and Event Contracts
- MNPI and Misappropriation in CFTC Markets
- DOJ, CFTC, NFA, and Exchange Rules
- Final Assessment
Who Should Take this Course?
- Compliance and surveillance professionals
- Traders, brokers, and trading desk supervisors
- Operations and middle-office staff
- Product development and innovation teams
- Risk, legal, and regulatory affairs professionals
- Senior managers with oversight responsibilities
- Professionals involved in prediction markets and event contracts
Upon successful completion, a training certificate will be available for download.
