Bobbi Allen

Polymarket bettors earned hundreds of thousands of dollars on the timing of military strikes in Iran and when Venezuelan leader Nicolás Maduro was captured.

Now, prosecutors in the Southern District of New York are investigating the trades.

CNN first reported the probe.

Both Polymarket and its main competitor, Cauchy, say they ban insider trading, but policing is largely left up to the platforms themselves.

Polymarket has had many markets on wars and military actions.

It operates an overseas exchange based in Panama.

A spokesman for New York's U.S.

Attorney's Office said prediction markets are not outside the scope of anti-money laundering and insider trading laws.

Billions of dollars are bet every week on polymarket in Kaoshi.

Federal regulators sued Meta in 2020, alleging it was an illegal monopoly that broke competition laws when it purchased Instagram and WhatsApp.

But since then, one major force has changed the social media landscape, TikTok.

And this became a major part of Meta's defense over a seven-week trial in April, that it does not monopolize social media apps because of TikTok's dominance.

The court has now agreed, dismissing the government's push that Meta should be broken up.

It's one of five government antitrust cases against big tech.

Results have been mixed.

Meta's victory follows Google losing two cases, and cases against Amazon and Apple are still pending.

Bobby Allen, NPR News.

It's seen as TikTok's last legal shot. It has asked the Supreme Court to step in and halt a law that bans TikTok nationwide unless Beijing-based ByteDance divests the app. In its application, TikTok says Congress has singled out TikTok, saying banning the app would violate the First Amendment rights of 170 million American users.

It's seen as TikTok's last legal shot. It has asked the Supreme Court to step in and halt a law that bans TikTok nationwide unless Beijing-based ByteDance divests the app. In its application, TikTok says Congress has singled out TikTok, saying banning the app would violate the First Amendment rights of 170 million American users.

While the viral video app waits for a decision from the high court, President-elect Donald Trump has been indicating he may rescue TikTok. Trump once opposed TikTok, but he recently said it has a warm spot in his heart, but did not explain how he might step in to save the app.