Hochul bans New York state workers from prediction markets

(The Center Square) — New York state workers are now barred from engaging in insider trading on prediction markets, under an executive order signed by Gov. Kathy Hochul on Wednesday.

The directive, which goes into effect immediately, prohibits state officers and employees from using confidential information related to their official duties to “further their personal financial interests” by betting on prediction markets like Kalshi and Polymarket. The new rules also prohibit state workers from passing on confidential information through prediction markets, according to the Hochul administration.

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

“While Donald Trump and DC Republicans turn a blind eye to the ethical Wild West they’ve created, New York is stepping up to lead by example and stamp out insider tradin...