Crackdown on 'insider trading' in prediction markets! 🛑📉
Did you know that now New York and Illinois government officials and employees will no longer be able to misuse inside information in prediction markets?
Key news:
🔹 New York and Illinois action: New York Governor Kathy Hochul has issued an executive order banning government employees and governor-appointed members from using private information to make a profit. A day earlier, Illinois Governor JB Pritzker had issued a similar order.
🔹 Kalshi's crackdown: Prediction platform 'Kalshi' has recently caught three cases of 'insider trading', in which candidates bet on the outcome of their own elections.
🔹 Result: These candidates have not only been imposed heavy fines but have also been suspended.
Do you think this decision is enough to maintain transparency in the elections and financial markets? Do share your opinion in the comment section. 👇
#PredictionMarkets #insidertrading #FinancialNews #Transparency