California Governor Bans Public Officials’ Insider Trading in Prediction Markets
Summary
- California Governor Gavin Newsom reportedly signed an executive order banning insider trading in prediction markets by public officials and policymakers.
- The measure applies not only to appointed officials but also to related individuals—including spouses, children and business partners—bringing them under the ban on insider trading in prediction markets.
- The decision was described as highlighting intensifying regulatory debate over public-sector ethics and conflicts of interest as prediction markets expand.
Forecast Trend Report by Period
California has moved to clamp down on insider trading in prediction markets.
According to Decrypt, a cryptocurrency-focused media outlet, on the 27th (local time) California Governor Gavin Newsom signed an executive order banning public officials and policymakers from insider trading in prediction markets.
The measure prohibits officials from using nonpublic information to profit in prediction markets, and applies not only to appointed officials but also to related individuals such as spouses, children and business partners.
“Public officials must serve the public and must not use their positions as a means to accumulate wealth,” Newsom stressed.
The decision underscores growing calls for tougher rules on public-sector ethics and conflicts of interest as prediction markets proliferate.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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