California Signs Executive Order Banning Insider Trading in Prediction Markets

AirdropBlackHole

2026-03-27 23:05:12

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On March 28, California Governor Gavin Newsom signed an executive order prohibiting government-appointed officials from using non-public information obtained during their official duties to profit from insider trading in prediction markets. The ban extends to their spouses, family members, and former business partners. The executive order specifies that public officials appointed by the governor are not allowed to use ‘confidential or non-public information’ to place bets on political or economic events related to their positions. Newsom stated that public service should not be a tool for profit and emphasized the need to delineate the boundaries between power and interests.

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