White House Warns Staff Against Using Nonpublic Information for Prediction Market Bets
The White House has reminded staff that using nonpublic information for financial gain, including betting on prediction markets, is a serious offense and will not be tolerated.
On March 24, the White House Management Office issued an email to staff emphasizing the prohibition against using nonpublic government information for personal financial gain, including placing bets on online prediction markets such as Kalshi or Polymarket. The email stated that it is a criminal offense to use nonpublic information to buy or sell these contracts and reminded employees that misuse of such information is a serious offense that will not be tolerated. Staff were directed to consult the White House Counsel's Office with any questions.
This communication followed President Trump's March 23 announcement on Truth Social about postponing strikes on Iran's power plants amid ongoing talks. Shortly before this announcement, a significant spike in oil futures trading was observed, raising concerns about potential insider trading. White House spokesman David Ingle stated that President Trump has been clear that while he seeks a strong and profitable stock market for everyone, members of Congress and other government officials should be prohibited from using nonpublic information for financial benefit. He added that any implication of administration officials engaging in such activity without evidence is baseless and irresponsible reporting.