White House staff were warned last month not to use insider information to place bets on predictions markets.
The email was sent to staff on 24 March, a day after US President Donald Trump announced a five-day pause on his threat to attack Iranian power plants and energy infrastructure.
It referred to press reports that raised concerns over government officials using non-public information to place bets on platforms like Kalshi or Polymarket.
White House spokesman Davis Ingle told the BBC that “any implication that Administration officials are engaged in such activity without evidence is baseless and irresponsible reporting.”
Ingle also said that all federal employees are subject to government ethics guidelines that prohibit the use of insider information for financial gain.
Is this the kind of “warning” like those “warnings” they put on grape concentrate products during Prohibition to help you avoid “accidentally” using it to make wine?
No, I believe this is legit. They sent this warning because they’ve figured out this is a legitimate risk for them, a situation that not even their store-bought judges can fix for them. The emphatic White House denial is proof that it’s happening.
Who going to enforce it?
Gambling regulations in the US are mainly left up to individual States. That could explain the situation, because if a Federal official opens themselves up to a State prosecution then Daddy Trump may not be able to help them.
These markets themselves argue adamantly that they are NOT a betting market and therefore aren’t subject to gambling regulations.
They can argue all they want, but the State regulators get to make their argument, too, and I bet courts side with the State.
I got some bad news for you.
The ruling is fucking bullshit, of course. But, yeah…
Conveniently, Washington of the Columbia district is outside of any state’s jurisdiction.
No, insider trading is illegal in most countries. This isn’t a new rule - just a reminder of an existing one.
“Don’t get caught.”
That’s the real crime.
😉
That’s the thing on betting 400k on Maduro being out of power by the end of the month. It doesn’t matter if you only bet 1k, it’s still blatant insider trading.
Yes, yes, this must be strictly reserved for the Trump inner circle.
“There’s only so much money going around, and it’s MINE!”
Ingle also said that all federal employees are subject to government ethics guidelines that prohibit the use of insider information for financial gain.
That’s rich considering his boss is the Conman in Chief
That’s rich
Yeah, exactly.
Funny how it’s always the rich who get a free pass.
Well, that depends, which party are they?
Social-pressure doesn’t control Putin, it doesn’t control Netanyahu, it doesn’t control Trump, & these turkeys want to pretend that it’ll control insider-trading??
Incompetence.
Automatic laws, with teeth.
Required.
Always has been required.
Human-nature makes it be required, because social-pressure, aka “political will”, isn’t reliable.
_ /\ _
Self serving aside, this is one of the greatest threats to any entity’s opsec with massive bet spikes acting as an early warning system to its foes.
Voidzilla said in his video that people were using these markets to know if they should go to a bomb shelter or not.
Epstein won powerball and KKKaroline Levit’s brother won a million dollar jackpot on one of these platforms so I think all this kind of stuff is completely rigged
When crooks hire other crooks… What could you expect?
You know, when everyone does bets, it is not fun. - Trump
