White House staff were warned last month not to use insider information to place bets on prediction markets. The email was sent to staff on March 24, the day after President Donald Trump announced a temporary pause on military threats against Iranian infrastructure. The memo highlighted concerns regarding government officials using non-public info to place bets on platforms like Kalshi or Polymarket. White House spokesman Davis Ingle dismissed reports suggesting wrongdoing as 'baseless'. He emphasized that all federal employees must adhere to ethics guidelines preventing insider trading. The warnings come amid growing scrutiny of prediction markets, especially after a surge of trades before significant announcements. Recent discussions in Congress also address the legality and ethics surrounding betting on military action outcomes.
White House Issues Warning Against Insider Betting
White House Issues Warning Against Insider Betting
Following a rise in prediction market betting, the White House has reminded staff about ethical guidelines prohibiting insider information use for personal gain. This comes amidst scrutiny of military-related trades ahead of a peace announcement.
White House staff received an email warning them not to engage in prediction markets using insider information, particularly after President Trump's significant announcement regarding Iran. This has prompted discussions on the ethics and regulation of prediction markets, especially surrounding military actions.
