Politics
Local election offices prohibit public workers from trading on prediction markets
CNBC reports that multiple jurisdictions are restricting staff from betting on election outcomes ahead of the midterms.
The short version
- County and election officials are barring certain employees with access to sensitive materials from trading on election-related prediction markets.[CNBC]
- Jurisdictions including Maricopa County, Arizona, and Delaware County, Pennsylvania, have enacted policies covering thousands of public workers.[CNBC]
- State actions include an executive order by Arizona's governor and an investigation request by Maryland's election administrator into whether election contracts violate state wagering laws.[CNBC]
Key facts
- County and election officials are barring employees from trading on prediction market contracts ahead of the midterms to prevent insider trading.[CNBC]
- Maricopa County adopted a resolution prohibiting around 13,000 workers from trading on non-public information, including elections.[CNBC]
- Delaware County in Pennsylvania banned approximately 2,200 employees from trading on election prediction market contracts.[CNBC]
- Arizona Governor Katie Hobbs issued an executive order prohibiting state workers from insider trading on prediction platforms.[CNBC]
- Maryland's administrator of elections sought an investigation into whether prediction contracts violate state laws against election wagers.[CNBC]
What remains uncertain
- It remains unresolved whether prediction market election contracts breach state laws prohibiting wagers on election outcomes in Maryland.[CNBC]
Sources
Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.