Right. I was very surprised because there aren't laws against insider trading on prediction markets.

So I genuinely don't understand what he is being charged with. What precisely is the "fraud"? The entire point of prediction markets is to get people with better information to participate, i.e. "insiders".

Insider trading with public corporations has tons of specific laws around it to clearly define what is insider information and what isn't. Prediction markets don't have any of that.

And the article does nothing whatsoever to clarify what the heck the actual fraud is supposed to be.

(And I understand this is against Google policy, but that's not what this is about.)