California Signs Executive Order Banning Insider Trading in Prediction Markets

Odaily News: California Governor Gavin Newsom has signed an executive order prohibiting government-appointed officials from using non-public information obtained in the course of their duties to trade for profit in prediction markets. The ban also applies to their spouses, dependents, and former business partners. The order explicitly states that relevant public officials are prohibited from using confidential or non-public information to trade on political or economic events related to their official duties. Newsom stated the need to prevent public power from being used for personal gain. (Cointelegraph)