Tony Evers Prohibits Insider Trading in Wisconsin Prediction Markets

(AsiaGameHub) –   Wisconsin has introduced new ethics guidelines for employees in the state’s executive branch, as prediction markets expand across the United States.

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Key Points

• Gov. Tony Evers signed Executive Order #294 on Thursday.
• The order restricts the use of nonpublic government information in prediction markets.
• No insider trading cases involving state workers have been reported in Wisconsin.

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Gov. Tony Evers issued the order to safeguard public trust and prevent government staff from leveraging their positions for personal financial benefit. The rule does not prohibit all prediction market activities by state employees, but it prevents them from using confidential information to gain financially.

Executive Order Addresses Use of Insider Information

The order applies to all employees within Wisconsin’s executive branch of government. It also extends to individuals who assist spouses, family members, or others in benefiting from prediction market trades.

The order states:

“All Wisconsin state executive branch employees are strictly prohibited from disclosing or using any nonpublic information obtained due to their public service to personally profit from, avoid loss from, or assist another person or entity, including spouses and family members, in profiting or avoiding loss from participation in prediction markets. Any violation of this order may result in dismissal, referral to the Wisconsin Ethics Commission, or other appropriate sanctions and may be referred to law enforcement.”

Wisconsin already required public officials to adhere to standards promoting transparency and integrity. Prediction markets have introduced a new concern because contracts can involve politics, policy, sports, economics, and other events where government workers may access information before it becomes publicly available.

Evers stated:

“Preserving public trust and confidence in our state government depends on transparency, accountability, integrity, and upholding the core principle of public service—that decisions must serve the public good and not the personal interests of any individual worker.”

Prediction markets operate in every U.S. state. One survey found that 15% of Americans have purchased sports-related prediction contracts, indicating potential broader use in other areas as well.

The Wisconsin order takes preventive action ahead of any confirmed issues. State officials have not identified any instances of insider trading or suspicious activity by government employees connected to prediction markets.