{"id":3395,"date":"2026-07-10T19:35:11","date_gmt":"2026-07-10T19:35:11","guid":{"rendered":"https:\/\/tucsonmovingreport.com\/?p=3395"},"modified":"2026-07-10T19:35:11","modified_gmt":"2026-07-10T19:35:11","slug":"gov-hobbs-bans-state-employees-from-insider-trading-on-prediction-markets","status":"publish","type":"post","link":"https:\/\/tucsonmovingreport.com\/?p=3395","title":{"rendered":"Gov. Hobbs bans state employees from insider trading on prediction markets"},"content":{"rendered":"
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PHOENIX (AZFamily)<\/b> \u2014 Arizona Gov. Katie Hobbs signed an executive order prohibiting state employees from using confidential information to profit from prediction markets.<\/p>\n

Read more Report: Man arrested in decades-old Zion death left will, note before dying in jail<\/a><\/p>\n

The , signed on Wednesday, bars public officers and employees from using or disclosing nonpublic information to pocket money from betting on prediction markets.<\/p>\n

Employees are also banned from using state secrets to avoid financial losses or helping others in the same way through prediction market wagering. Employees who do so risk disciplinary action, including possible termination, and being referred to law enforcement.<\/p>\n

\u201cArizonans deserve a state government that works for them, not one where insiders exploit public service for their own gain,\u201d Hobbs said in a statement. <\/p>\n

Hobbs called these \u201ccommonsense ethical standards\u201d for Arizona executive branch employees. <\/p>\n

\u201cPublic service is a privilege, and we will not tolerate anybody abusing that privilege to line their own pockets,\u201d she added. <\/p>\n

The ban, however, does not apply to Arizona state agencies led by an elected state official, the Corporation Commission, Arizona state legislature staff members or the judicial branch. In her executive order, however, Hobbs encouraged them to adopt similar policies for their employees.<\/p>\n

Read more Man intentionally ran into traffic before deadly I-10 crash in Phoenix, DPS says<\/a><\/p>\n

Prediction markets allow people to bet on a multitude of topics and events, including politics, election outcomes, government and military actions, and local affairs. There have been several high-profile incidents of traders using insider information to profit on prediction markets, such as Kalshi and Polymarket.<\/p>\n

This year, a US special forces soldier was charged with using his access to classified information about the US mission to capture Venezuelan President Nicolas Maduro to win more than $400,000 on Polymarket.<\/p>\n

Former US Rep. George Santos is under investigation for boasting that he would be at President Donald Trump\u2019s State of the Union address, but then bet against his own attendance. <\/p>\n

\u201cKalshi already bans insider trading and imposes penalties for violations. Formalizing this and making it an industry standard across all prediction markets is a welcome measure,\u201d Jacki McGavick, a spokesperson for the company, said in a statement Wednesday.<\/p>\n

See a spelling or grammatical error in our story? <\/i>Please click here to report it<\/i>.<\/i><\/p>\n

Do you have a photo or video of a breaking news story? Send <\/i>it to us here<\/i> with a brief description.<\/i><\/p>\n

Read more Police identify man who died after being attacked at Phoenix care facility<\/a><\/p>\n<\/section>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Arizona Gov. Katie Hobbs signed an executive order prohibiting state employees from using confidential information to profit from prediction markets.<\/p>\n","protected":false},"author":1,"featured_media":3394,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3395","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-interesting"],"yoast_head":"\nGov. Hobbs bans state employees from insider trading on prediction markets - Tucson Moving Report<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tucsonmovingreport.com\/?p=3395\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gov. 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