White House staff received email warning them not to place bets on prediction markets, officials say
CBS News • • business
Key Points:
- The White House Management Office sent an email on March 24 warning aides not to use nonpublic government information for betting on online prediction markets, emphasizing that such actions are criminal offenses and violate government ethics regulations.
- The email was prompted by concerns raised in recent press reports about government officials potentially using insider information to trade on platforms like Kalshi or Polymarket.
- White House officials, including spokesman David Ingle, denied any evidence of wrongdoing by administration employees and called allegations of insider trading baseless and irresponsible.
- The warning came shortly after President Trump announced a postponement of strikes on Iran's power plants on March 23, an event that coincided with a spike in oil futures trading, raising suspicions of possible insider trading.
- Staff were directed to consult the White House Counsel's Office with any questions, underscoring the administration's stance against misuse of nonpublic information for financial gain.
