The Governor of California signs an executive order banning insider trading in prediction markets.

CycleProphet · 2026-03-28T01:27:13+00:00

Deep Tide TechFlow News, March 28 — California Governor Gavin Newsom signed an executive order prohibiting government officials from using non-public information obtained during their duties to profit from insider trading in prediction markets. The ban extends to their spouses, family members, and former business partners. The executive order explicitly states that public officials appointed by the governor are not allowed to use "confidential or non-public information" to bet on political or economic events related to their official duties. Newsom stated that public service should not be a tool for profit and emphasized the need to draw clear boundaries between power and interests.

CycleProphet

2026-03-28 01:27:13

According to TechFlow news, on March 28, California Governor Gavin Newsom signed an executive order prohibiting government-appointed officials from using non-public information obtained during their duties to engage in insider trading for profit in prediction markets, and extending the ban to their spouses, family members, and former business partners. The executive order clarifies that publicly appointed officials 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 become a tool for profit and emphasized the need to draw a clear line between power and interests.

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