U.S. Representative Abe Hamadeh (R-AZ-08) has sent a sharply worded letter to the Acting Chairwoman of the Commodity Futures Trading Commission (CFTC), Caroline D. Pham, seeking answers and potential regulatory action regarding the newly announced partnership between prediction-market platform Kalshi and CNN.
In the letter, Congressman Hamadeh warns that the collaboration “poses direct and foreseeable threats to market integrity, democratic stability, and American national security,” arguing that it creates an unprecedented structural conflict of interest by allowing a major news organization to both report on and financially benefit from high-stakes geopolitical events.
“CNN would be uniquely positioned to shape public perception and news cycles around the very events Kalshi lists as tradable markets,” said Congressman Hamadeh. “These events would involve elections, war, foreign policy crises, and domestic instability. No other major media outlet has attempted such a partnership, and for good reason: it creates a built-in structural conflict of interest that allows an influential news organization or foreign adversaries to shape outcomes for financial or competitive advantage.”
The congressman highlighted Kalshi’s existing controversial markets, including contracts that reportedly allowed trading on whether Palestinians in Gaza would suffer mass starvation or when Israel might conduct military actions in Gaza or the West Bank—markets he described as “chilling.”
Prediction Markets drawing some NEGATIVE press!
Congressman Abe Hamadeh is calling on the CFTC to review prediction markets.
Specifically, the congressman posed four questions to the CFTC:
What actions is the Commission taking to review the CNN-Kalshi partnership under Section 5c(c)(5)(C), with respect to informational conflicts of interest and event manipulation?
Is the CFTC assessing whether the partnership creates vulnerabilities for foreign or domestic actors to influence U.S. politics, economics, or national security for financial profit?
Has the Commission evaluated whether CNN’s editorial influence, combined with Kalshi’s event contracts, renders these markets “contrary to the public interest?”
What steps will the CFTC require to ensure robust compliance controls, including editorial firewalls, conflict-of-interest disclosures, and foreign-influence screening?
Hamadeh gave Acting Chairwoman Pham 30 days to provide a detailed written response outlining the Commission’s assessment and planned actions.
“My constituents have raised alarm bells about a media company with a long-documented record of partisan manipulation now positioning itself to influence and profit from geopolitical events in real time,” stated Hamadeh. “This partnership is not merely inappropriate; it is outright dangerous.”
He concluded, “The CFTC’s mission is to safeguard the integrity of U.S. markets, and allowing CNN, a network already viewed by many Americans as a propagandistic actor, to operate inside a live prediction market creates unacceptable national-security and governance vulnerabilities.”
Ethan Faverino is a reporter for AZ Free News. You can send him news tips using this link.
COVID mania just won’t go away. The deadly strains of the virus have been gone for two years now, and yet the recent outbreak of a mild flu-like variant is again stoking panic on the Left.
Nearly 100 universities are requiring masks this fall.
Lionsgate movie studios in Los Angeles and Atlanta-based Morris Brown College this week stated they are reinstating not just mask mandates but social distancing measures and contact tracing.
CNN, which led the panic in 2020 and 2021 — causing manic school, restaurant and business shutdowns and vaccine mandates — recently put out a headline on its website that encouraged its readers not to go outside without a mask on. Really? The latest evidence finds this is less dangerous than a normal flu virus and tracking data suggest that the wave has already peaked.
What’s even more disturbing here is that the leftist medical community and the media aren’t renouncing their calls for mitigation strategies that were catastrophically wrong in the panic era of 2020 and 2021 — but instead calling for more of these assaults on freedom in the future.
It is one thing for well-meaning medical experts to have disagreed about how to best combat a once-in-a-half-century deadly virus. We didn’t know exactly what we were dealing with. But now we know with concrete scientific evidence that most mandates and lockdowns had a small impact on the spread of the virus and on fatalities. It turns out there was almost no difference in death rates in states with strict lockdowns and no lockdowns at all. The same is true of cross-country evidence.
Healthy children were never at risk from COVID (something we knew early on), so shutting down schools for one or two years was a sop to the teachers unions but a disaster for this generation of kids. Test scores are the worst in 30 years.
Before the pandemic, only 15% of public school students were chronically absent — more than 18 or more days a year.
Stanford University education professor Thomas Dee’s data shows an estimated 6.5 million additional students are now chronically absent. In Connecticut and Massachusetts, chronic absenteeism remains double its pre-pandemic rate.
But polls show that Democrats — even those that are highly educated — generally still support the lockdowns that were mandated. These are the same people who lecture about “following the science.” The most comprehensive study by experts at Johns Hopkins University found death rates from lockdowns were reduced by 0.1 percent. But how many people died from the isolation of lockdowns, delayed health screening from cancer, the increase in drug overdoses?
Biden’s vaccine mandates only made Americans more resistant to get pricked. They backfired.
Worst of all, Anthony Fauci, who remains a hero of the Left, recently not only refused to admit the errors of his advice but said the “lockdown was absolutely justified.”
Why does this bizarre rewrite of recent history matter? Because the fearmongering Left can’t wait to install new lockdowns every time we have a new flu virus and health scare. They’ve even started putting out feelers for occasional climate change economic shutdowns.
Those who love freedom must strenuously resist this coming tyranny.
On Wednesday, Democratic gubernatorial candidate Katie Hobbs said debates don’t matter when explaining why she won’t debate Republican opponent Kari Lake.
Hobbs made the remarks during a CNN interview. Voters upset over Hobbs’ refusal to debate were told to accept it as part of her campaign strategy. Hobbs added that a debate at this point was too late anyway.
“Look, we’re six days out from the election and our campaign strategy is our campaign strategy,” said Hobbs. “We’re moving forward and I’m continuing to make my case to the voters of Arizona. Whether or not we debate in this race is not going to decide this election.”
Hobbs also claimed that Lake wasn’t interested in a debate, just in creating a spectacle. The CNN “This Morning” hosts — Don Lemon, Poppy Harlow, and Kaitlan Collins — insisted that Hobbs could challenge Lake’s narratives in real time.
Hobbs also neglected to debate her primary opponent, Marco Lopez. When asked the reason for avoiding that debate, Hobbs said she didn’t need to because of favorable polling. Effectively, Lopez wasn’t worth the time or effort required for a debate. Hobbs didn’t mention her initial excuse for skipping the debate with Lopez: a purported COVID-19 infection and a conflicting campaign event.
“I was miles ahead of him and won handily,” said Hobbs.
Hobbs initially told the public that she skipped the debate against Lopez because of a COVID-19 illness. Yet just several days later, Hobbs participated in an Independence Day parade in Flagstaff.
In September, Hobbs fled from in-person questions posed by media and supporters concerning her refusal to debate Lake.
Last month, Hobbs advised voters that they should forget about her refusal to debate and, instead, focus on her platform.
Kari Lake’s desperate attempts to create a spectacle are a distraction from dangerous positions she can't defend. Today makes clear she has no intention of actually telling voters her plans to govern.
Debate about debates is over. I have real plans to lead Arizona forward #AZGOV
When Hobbs questioned Lake’s water crisis policies on social media last week, Lake pointed out that these sorts of questions were best answered in a debate. Lake has invited Hobbs repeatedly to debate her.
You probably shouldn't have skipped our debate then, @katiehobbs.
