Newsom Bars Officials From Insider Trading on Prediction Markets

Governor of California Gavin Newsom

Photographer: Jason Henry/Bloomberg

California Governor Gavin Newsom is barring high-ranking state officials from using inside information to wager in prediction markets.

The rise of platforms like Polymarket and Kalshi, which allow gamblers to bet on all sorts of real-world events, has raised concerns that government and corporate employees may be profiting from privileged information.