Today's Business Headlines: 03/27/26
The executive order added to existing ethics rules that prohibit state officials from using information unknown to the public to enrich themselves or family members, as recent huge payouts on Kalshi and Polymarket have raised suspicions of insider trading.
Users can place bets on everything from sporting games to pop culture and politics – and anonymous traders have recently made millions with, asking what the odds were that the guv would ban insider trading on such markets within the next 24 hours. Disgraced Theranos fraudster Elizabeth Holmes just caught a break in court — and prosecutors aren’t happySheryl Sandberg taps 25-year-old to lead her nonprofit — sending senior staff packing: report “This makes sense, and we already do this. At Kalshi, insider trading violates our rules, and we enforce them when we catch insiders,” a Kalshi spokesperson told The Post, adding that government employees “should be aware” that insider trading violates the law.Gavin Newsom ban CA officials & appointees from betting on predictive markets with insider info in the next 24 hours??to their platforms that seek to prevent insider trading – as members of Congress introduced a flurry of legislation targeting the companies, including a proposed ban on bets related to terrorism and war. In his announcement of the new ban, Newsom took a swing at the Trump administration — the latest in a series of attacks from the lefty pol, who’s widely viewed as a likely 2028 Democratic presidential contender. “At a time when Trump’s Washington is riddled with ethical failures and insider profiteering, California is drawing a bright line,” NewsomDems have criticized the Trump family’s ties to prediction markets. Donald Trump Jr. is an adviser to both Kalshi and Polymarket.Rep. Seth Moulton announced Wednesday that he has banned all of his office staffers from using prediction markets. Sens. John Curtis and Adam Schiff have pushed legislation to hand over control of prediction markets to state regulators, not federal ones, arguing that the companies’ new anti-insider trading guidelines are not enough. Two separate bipartisan proposals introduced in the House and Senate this week seek to ban members of Congress and the president from placing bets on prediction markets related to politics.Kalshi is being sued for refusing to pay out bets related to Iranian Supreme Leader Ayatollah Ali Khamenei’s ouster.Polymarket’s main trading platform is located offshore and the company does not technically allow American bettors to use the site, so it is able to escape CFTC regulations. But there are numerous online guides that detail how US users can skirt these blockages using a VPN, raising questions around how the rules are enforced. Rival Kalshi – an American prediction market – has said it “doesn’t allow markets directly tied to death” on its platform, after suspected insiders made bets worth $54 million over former Iranian Supreme Leader Ayatollah Ali Khamenei’s ouster. Kalshi is being sued for refusing to pay out the bets after Khamenei was killed in US-Israeli air strikes.employee who allegedly traded on contracts related to the YouTuber’s content, as well as Kyle Langford, a former GOP gubernatorial candidate in California who bet on himself to win.Here’s the most overlooked part of Larry Fink’s yearly letter to shareholders — and why it could be good newsDisgraced Theranos fraudster Elizabeth Holmes just caught a break in court — and prosecutors aren’t happyTiger Woods’ bloodshot-eyed mugshot released after Florida car crash, DUI arrestmaurice norbert - stock.adobe.com Stream It Or Skip It: 'Jo Nesbø's Detective Hole' On Netflix, Where A Troubled Detective Tracks Down A Serial Killer Who Is Terrorizing Oslo
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