California Bans Government Officials from Using Insider Knowledge to Bet on Prediction Markets

California Bans Government Officials from Using Insider Knowledge to Bet on Prediction Markets

California Gov. Gavin Newsom on Friday issued an executive order banning state officials from using insider knowledge to profit, or assist another person in profiting, on prediction markets, effective immediately. The Governor’s office said there have been mounting reports of individuals in the federal government with access to sensitive government information placing well-timed bets ahead of major Trump administration actions. These reports are…