California Governor Gavin Newsom is signing an executive order today that bans state officials with insider information from betting on prediction markets. This move directly expands existing ethics rules, prohibiting state appointees from using non-public information to enrich themselves or their family members through these fast-growing platforms. The order takes effect immediately once signed.
According to Politico, Newsom framed his decision as a direct counter to the current administration, accusing President Donald Trump’s Washington of being “riddled with ethical failures and insider profiteering.” He made it clear that California isn’t going to tolerate that kind of corruption.
