Evers Bans Wisconsin State Workers From Prediction-Market Insider Trading After $410,000 Army Case
Updated
Updated · The Center Square · May 14
Evers Bans Wisconsin State Workers From Prediction-Market Insider Trading After $410,000 Army Case
4 articles · Updated · The Center Square · May 14
Thursday’s executive order bars Wisconsin executive branch employees from using or disclosing nonpublic information to profit on prediction markets.
$410,000 in alleged gains by a U.S. Army Special Forces soldier helped drive the move, underscoring concerns that government insiders could exploit advance knowledge of official actions.
Kalshi and similar platforms let users trade on election outcomes and government-related events, making internal state information potentially valuable to market participants.
Illinois, New York, Maryland and California have taken similar steps, and the U.S. Senate has unanimously approved a rule banning senators from trading on prediction markets.
Are prediction markets the future of finance or just illegal gambling?
How will a soldier's $410k profit from military secrets redefine insider trading?