US EditionPublished • loading... • Updated
Hochul order bars state workers from insider trading on prediction markets
- New York Gov. Kathy Hochul signed an executive order on Wednesday prohibiting state government employees from using confidential information to trade on prediction markets like Kalshi and Polymarket.
- This directive follows similar bans by Illinois Gov. J.B. Pritzker on Tuesday and California Gov. Gavin Newsom last month, reflecting a wave of state-level efforts to curb insider trading on prediction markets.
- Although New York officials noted "there are no known instances of this behavior to date," the order applies to all state officers and employees to prevent them from furthering personal financial interests.
- Earlier this week, New York Attorney General Letitia James filed a lawsuit against Coinbase and Gemini, alleging the platforms operate illegal gambling operations without licenses from the New York Gaming Commission.
- Amid an "ethical Wild West," the White House and Congress are considering measures to restrict prediction market participation, though the Commodities Futures Trading Commission maintains exclusive regulatory authority over these markets.
Insights by Ground AI
17 Articles
17 Articles
Pritzker bans insider trading by state employees, faces hypocrisy claims
(The Center Square) – New rules for employees of the state of Illinois will prevent betting on the outcomes of current events and state government actions on prediction markets like Kalshi and Polymarket.
·Cherokee County, United States
Read Full Article
Business InsiderReposted by 
The New York Ledger
The New York LedgerState employees are the latest targets of prediction market insider trading bans
Three governors have signed executive orders aimed at banning state employees from insider trading on prediction markets.Tayfun Coskun/Anadolu via Getty Images; Lev Radin/Pacific Press/LightRocket via Getty Images; Victor J. Blue/Bloomberg via Getty ImagesSome state employees have been officially banned from insider trading on prediction markets.Governors have signed executive orders clamping down on it in New York, Illinois, and California."Get…
·United States
Read Full Article
Coverage Details
Total News Sources17
Leaning Left2Leaning Right2Center4Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 25%
C 50%
R 25%
Factuality
To view factuality data please Upgrade to Premium
