"An email was sent to White House staff on 24 March, warning them against using insider information to place bets on prediction markets like Kalshi or Polymarket."
"Concerns were raised after a gambler made nearly half a million dollars on the capture of Venezuelan president Nicolas Maduro just before it was officially announced."
"Prediction market bets on conflicts have fueled debate over how the industry should be regulated, especially regarding the use of insider information."
White House staff received a warning not to use insider information for betting on prediction markets. This warning followed President Trump's announcement regarding Iranian power plants. Concerns arose over officials potentially using non-public information for financial gain. White House spokesman Davis Ingle emphasized that all federal employees must adhere to ethics guidelines prohibiting such actions. The issue of prediction markets has sparked debate on regulation, especially after incidents involving significant financial gains from insider knowledge.
Read at www.bbc.com
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