Wisconsin restricts insider trading activities on prediction markets

"Executive Order 294 applies to executive branch workers and bars them from using nonpublic information obtained through state jobs to personally profit, avoid losses, or help others financially benefit through prediction markets or related betting activity."

"“State workers in Wisconsin work hard every day in dedicated service of the people of our state, often going above and beyond their job description and daily responsibilities to support Wisconsinites and our communities and meet their needs,” Evers said in a statement."

"“Maintaining public trust and confidence in our state government demands and depends upon transparency, accountability, and integrity, and upholding the fundamental tenet of public service that, above all, the work must be for the benefit of the public good and not for personal greed or gain. That is a commitment we take seriously, and we must continue to do so.”"

"The governor's office said Wisconsin already enforces broad ethics standards for public employees, but officials believe prediction markets require more direct rules because those platforms increasingly allow users to place wagers on elections, legislation, economic decisions, sports outcomes, and international events."

Wisconsin Governor Tony Evers signed an executive order blocking executive branch employees from using confidential government information obtained through state jobs to personally profit or avoid losses. The order also prohibits using such information to help others financially benefit through prediction markets or related betting activity. Executive Order 294 applies to executive branch workers and targets insider trading risks tied to wagering platforms. The order is intended to strengthen ethics rules as prediction markets increasingly support wagers on elections, legislation, economic decisions, sports outcomes, and international events. The governor’s office states Wisconsin already has broad ethics standards, but additional, more direct restrictions are needed for these platforms to protect public trust and integrity.

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