Governor Kathy Hochul issued an executive order prohibiting state employees from engaging in insider trading on prediction markets. These markets allow individuals to place bets on the outcomes of real world events, including both major events such as outcomes of military activity, election results, or the severity of natural disasters, as well as obscure and manipulable events such as betting on the attire of public officials at appearances, when the President of the United States would next publicly insult a person, or the volume of social media posts made by an individual.
New York is stepping up to stop insiders from cashing in on information the public doesn’t have.
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