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Wisconsin Gov. bans insider trading on prediction markets
On May 14, 2026, the Governor of Wisconsin, Tony Evers, signed an Executive Order banning state employees from using insider knowledge on prediction market trades.
According to the order, all executive branch employees, which includes over 30,000 workers, will be prohibited from using any non-public information that they possess to gain monetary funds or protect themselves from losses in prediction markets.
The Executive Order states:
“All Wisconsin state executive branch employees are strictly prohibited from disclosing or using any nonpublic information obtained due to their public service to personally profit from, avoid loss from, or assist another person or entity, including spouses and family members, in profiting or avoiding loss from participation in prediction markets. Any violation of this order may result in dismissal, referral to the Wisconsin Ethics Commission, or other appropriate sanctions and may be referred to law enforcement.”
The main goal of the measure is to protect public trust and integrity by restricting the ability of government employees to take advantage of any insider information that they might have, including sharing it with spouses or family members.
Governor Evers commented:
“Maintaining public trust and confidence in our state government demands and depends upon transparency, accountability, integrity, and upholding the fundamental tenet of public service in decisions that, above all, the work must be for the benefit of the public good and not for the personal gain or benefit of any individual worker.”
Additionally, the Governor’s office revealed that there haven’t been any cases of Wisconsin workers using insider info for personal gain; however, the ban is necessary in response to the fast growth of prediction markets in the U.S.
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