DOJ Investigates Suspiciously Timed Oil Trades in Middle of War
DOJ Investigates Suspiciously Timed Oil Trades in Middle of War
The Department of Justice says it’s looking into trades that happened right before government officials made major announcements about the war.
The Justice Department is investigating potential insider trading related to the skyrocketing oil prices caused by the U.S.-Israeli war on Iran and Lebanon. The department is specifically looking into at least four instances where traders made over $2.6 billion betting that the price of oil would fall moments before it did, according to sources who spoke with ABC News.
According to the London Stock Exchange, traders bet over $500 million that oil prices would drop on March 23, just 15 minutes before Trump announced he’d be pausing his planned attacks on Iran’s power centers. On April 7, traders bet $960 million on oil prices falling. A few hours later, Trump announced a temporary ceasefire. Ten days later, Iran’s Foreign Minister Abbas Araghchi went on social media to state that the Strait of Hormuz was open—and traders bet $760 million on falling oil prices just 20 minutes before he did. On April 21, traders once again somehow had the awareness to bet $760 million that oil prices would fall just 15 minutes before Trump announced a ceasefire extension.
All signs point to someone with insider knowledge using this erratic war to enrich themselves—something the Trump administration has been accused of multiple times.
In January, an unknown Polymarket user bet on the U.S. invading Venezuela and Venezuelan President Nicolás Maduro being forced out of leadership by January 31, betting more than $33,000 while the odds were only at 6 percent. That trader made $400,000 in less than 24 hours. It was later revealed that the user was a U.S. soldier who was part of the raid on Maduro, and he was charged with “unlawful use of confidential government information for personal gain.”
And last year, Trump proclaimed on Truth Social that “THIS IS A GREAT TIME TO BUY!!! DJT,” a mere four hours before announcing a 90-day pause on most retaliatory tariffs except for China, causing stocks to shoot up.
Observant Americans shouldn’t get their hopes up regarding any actual consequences coming from the probe, as it’s being led by a compromised, biased Justice Department.
“Everybody Made Money”: Campaign Staff Are Betting on Their Candidates
And they’re making bank.
Political insiders have found a new way to make cash off of election season.
Betting on the success or failure of political candidates has effectively become commonplace in the industry, NPR reported Thursday, with campaign staffers making thousands of dollars off of their respective candidates.
One staffer working on a statewide campaign in the south told NPR how an external poll, shared prior to its release with their team, launched a wave of internal bets in support of their candidate. Internal campaign data showed their candidate faring worse than the external poll, but that didn’t matter.
“Myself and others started placing bets before that poll came out,” the staffer told NPR on the condition of anonymity. “And then, sure enough as soon as that poll came out, the stock went up and everybody made money.”
There’s apparently no shame in the game, despite recent attempts by online prediction markets to curb the behavior. In late April, the prediction market Kalshi—better known for sports betting—banned and fined several political candidates after a company probe found they had bet on themselves.
“Because you have all this information and knowledge that isn’t publicly available yet, it’s almost foolish not to bet on it before it’s made public,” the staffer said.
The practice has raised questions about the ethics and legality of campaign betting, and what has become known as “political insider trading.”
The process is as easy as can be imagined: an insider will become privy to nonpublic polls related to the campaign, and use the unreleased odds from the poll to inform their bets on sites like PredictIt or Polymarket. If the new poll indicates better odds of success than the odds on the website, they’ll buy low with what’s known as an event contract—knowing that the poll, once released, will raise their candidate’s favorability.
“The most I’ve ever made is thousands,” the staffer told NPR.
Kash Patel Lost It When Personalized Bourbon Bottle Went Missing
“It turned into a shitshow,” a retired FBI agent said of the scene.
FBI Director Kash Patel reportedly had a major meltdown when he lost one of his personalized bottles of bourbon.
The Atlantic reported Wednesday that Patel typically travels with a supply of personalized bottles of Woodford Reserve bourbon, branded with the words “Kash Patel FBI Director,” and a rendering of the FBI shield, surrounded by a band that features his favored spelling of his first name: “Ka$h.” Some of the bottles also include his signature and the number nine, a likely reference to Patel’s place in the lineage of FBI directors.
Patel and his team reportedly traveled with at least one case of bourbon to the FBI’s training facility in Quantico, Virginia, in March for a “training seminar” taught by Ultimate Fighting Championship athletes. At least one of the bottles of bourbon went missing, causing Patel to “lose his mind,” according to clients of Kurt Siuzdak, a retired agent who has assisted FBI agents with legal issues who spoke with The Atlantic.
Multiple agents contacted Siuzdak for legal guidance after Patel threatened to polygraph and prosecute staff over the missing bottle. “It turned into a shitshow,” Siuzdak said. Other attorneys told the magazine they’d received similar calls from FBI employees concerned about Patel’s bourbon bottles.
Siuzdak........
