New York, Illinois sign EO banning state employees from prediction markets

New York Governor Kathy Hochul criticized the Trump administration for not implementing any “meaningful ethical standards” to curb insider trading in prediction markets.

New York Governor Kathy Hochul has signed an executive order banning state employees from betting on prediction markets, following a similar move by Illinois earlier this week.

“Getting rich by betting on inside information is corruption, plain and simple,” Hochul said on Wednesday, adding: “Our actions will ensure that public servants work for the people they represent, not their own personal enrichment.”

Hochul also slammed the Trump administration and congressional Republicans for allowing an “ethical Wild West” to take hold around prediction markets without implementing any “meaningful ethical standards” to protect against insider trading.

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