California bans officials from using inside knowledge to bet on prediction markets

California Governor Gavin Newsom issued an executive order barring state officials from using insider knowledge to bet on prediction markets such as Polymarket and Kalshi. The directive aims to prevent conflicts of interest and the use of non-public government information to trade on event-driven platforms, imposing a statewide ethics restriction on such activity.

Analysis

California Governor Gavin Newsom issued an executive order barring state officials from using insider knowledge to bet on prediction markets such as Polymarket and Kalshi. The directive aims to prevent conflicts of interest and the use of non-public government information to trade on event-driven platforms, imposing a statewide ethics restriction on such activity.