US EditionPublished • loading... • Updated
OpenAI Fires Employee for Insider Trading on Prediction Markets
OpenAI fired an employee for violating company policy by using confidential information for personal gain on prediction markets, with 77 suspicious positions flagged since March 2023.
- Earlier this year, OpenAI fired an employee after an internal probe found they used confidential information to place bets on Polymarket, CEO Fidji Simo disclosed.
- Prediction markets have exploded in popularity in recent years, with Polymarket processing over $3 billion last year and Kalshi becoming the first CFTC-regulated platform in the US.
- Blockchain traces on Polymarket revealed 13 brand-new wallets bet $309,486 within 40 hours before the ChatGPT Browser launch, flagged as suspicious activity by Unusual Whales.
- OpenAI reminded staff that policy bans using confidential information for personal gain, and spokesperson Kayla Wood said this enforcement signals a corporate enforcement precedent in a regulatory grey area.
- In recent weeks, platforms and regulators have stepped up crackdowns: last month, the Israeli government indicted bettors using privileged military information, while Kalshi banned insiders and cited suspicious cases.
Insights by Ground AI
14 Articles
14 Articles
OpenAI Fires Employee for Prediction Market Trades
OpenAI earlier this year fired an employee for trading on prediction markets using confidential company information in violation of company policies after an investigation, according to a spokesperson for the company. CEO of Applications Fidji Simo announced the termination to employees earlier this year, the spokesperson said. Insider trading on prediction markets is on the rise as
Coverage Details
Total News Sources14
Leaning Left2Leaning Right0Center2Last UpdatedBias Distribution50% Left, 50% Center
Bias Distribution
- 50% of the sources lean Left, 50% of the sources are Center
50% Center
L 50%
C 50%
Factuality
To view factuality data please Upgrade to Premium
