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That's a good start, and should be followed by banning everyone else from trading on them.
Good. Now they should also ban themselves from insider trading in both the public stock market and private markets as well as prediction markets.
ANY government employee or government contract worker should be banned from trading on prediction markets.
The US federal workforce is ~2.2 million people. Banning them all from trading on prediction markets isn't the right move. A cafeteria worker in some suburban admin office likely has no inside information they are going to trade on. Members of congress and other high level positions on the other hand should be banned.
Until they do...
All of the other markets are prediction markets too, in terms of opportunities to profit from inside knowledge. This is like vowing to quit smoking ... Marlboros.
ANY government employee or government contract worker should be banned from trading on prediction markets.
That's a good start, and should be followed by banning everyone else from trading on them.
Why though. This is a dead serious question, what is the difference in using financial derivatives and prediction markets. Both are a transaction between parties that is influenced by some other underlying event. Why is it ok for the event to be a stock price, but not ok for it to be a sports match?
ANY government employee or government contract worker should be banned from trading on prediction markets.
The US federal workforce is ~2.2 million people. Banning them all from trading on prediction markets isn't the right move. A cafeteria worker in some suburban admin office likely has no inside information they are going to trade on. Members of congress and other high level positions on the other hand should be banned.
That's a good start, and should be followed by banning everyone else from trading on them.
Why though. This is a dead serious question, what is the difference in using financial derivatives and prediction markets. Both are a transaction between parties that is influenced by some other underlying event. Why is it ok for the event to be a stock price, but not ok for it to be a sports match?
The prediction market CEOs on the other hand seem to be actively encouraging insider trading and match fixing, it's practically their main selling point.
Good. Now they should also ban themselves from insider trading in both the public stock market and private markets as well as prediction markets.
This was done in 2012: https://en.wikipedia.org/wiki/STOCK_Act
Emphasis mine. This does not cover the judicial or executive branch