White House employees instructed not to bet on prediction markets. Five hours ago. Osmond Chia, business reporter. Images from Getty. Last month, White House personnel were cautioned against using confidential information to bet on prediction markets. The advisory email went out to staff on March 24, one day after President Donald Trump announced a five-day delay on his threat to strike Iranian power plants and energy facilities. It cited media stories expressing worries that officials might be leveraging non-public data for wagers on sites such as Kalshi or Polymarket. White House spokesperson Davis Ingle stated to the BBC that “any suggestion that Administration officials are involved in such conduct without proof is unfounded and reckless journalism.” The Wall Street Journal first reported on the email Thursday. Ingle also noted that all federal employees must follow government ethics rules barring the use of insider information for personal financial benefit. “The only special interest that will ever guide President Trump is the best interest of the American people,” he added. The BBC has reached out to Kalshi and Polymarket for comment. Polymarket faced scrutiny in January when a bettor won nearly half a million dollars on the capture of Venezuelan president Nicolás Maduro right before the official announcement. It was unclear who placed the bet. The anonymous account featured a blockchain ID made up of letters and numbers. The event sparked worries about whether it had gained from insider knowledge of the US military operation. Prediction markets, hosting over $44bn (£33bn) in trades, have grown more popular over the past year. The predictions can cover any topic. They mostly involve sports, but users can also bet on things like whether the US central bank will cut rates or the outcomes of local elections. Oil traders bet millions just minutes before Trump’s Iran talks post.
