New York Governor Hochul Restricts State Employees from Using Insider Information in Prediction Markets

New York Governor Kathy Hochul has signed an executive order prohibiting certain state employees and governor-appointed public authority members from leveraging nonpublic information for profit in prediction markets. According to NS3.AI, this decision follows a similar directive issued by Illinois Governor JB Pritzker a day earlier, targeting state employees. Kalshi, a prediction market platform, announced on Wednesday that it has initiated three insider trading cases involving candidates, resulting in fines and suspensions for betting on their own races.