California bans officials from using inside knowledge to bet on prediction markets
Change
California Governor Gavin Newsom issued an executive order banning state officials from using insider knowledge to place bets on prediction markets such as Polymarket and Kalshi.
Why it matters
State agencies must set up monitoring and controls for employee participation on online prediction platforms. Employees with access to confidential policy information will face new trading restrictions and disclosure duties.
Implications
- • California state agencies must update employee trading policies to bar trades tied to non-public policy information.
- • Agency ethics and HR offices must monitor and report suspect prediction-market trades by covered employees.
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Topics
Governance Policy & Regulation Regulatory Actions Compliance Blockchain & Web3