{"id":1125,"date":"2026-05-27T15:06:00","date_gmt":"2026-05-27T15:06:00","guid":{"rendered":"https:\/\/durhammovinghub.com\/?p=1125"},"modified":"2026-05-27T15:06:00","modified_gmt":"2026-05-27T15:06:00","slug":"nc-gov-stein-to-ban-staff-from-betting-on-prediction-markets-with-insider-info","status":"publish","type":"post","link":"https:\/\/durhammovinghub.com\/?p=1125","title":{"rendered":"NC Gov. Stein to ban staff from betting on prediction markets with insider info"},"content":{"rendered":"

AI-generated summary reviewed by our newsroom.<\/p>\n

Read our AI Policy.<\/a><\/p>\n

Gov. Josh Stein plans to sign an executive order Wednesday barring a portion of state workers from using what they learn on the job to bet through prediction markets, the governor\u2019s office told The News & Observer.<\/p>\n

Read more Yachts, jets and women: NC billionaire Greg Lindberg to pay for billions he stole<\/a><\/p>\n

Leading prediction platforms like Kalshi and Polymarket facilitate wagers on a wide range of current events \u2014 from weather to sports to which politicians will appear on certain podcasts and which states President Donald Trump will soon visit.<\/p>\n

This insider betting rule will apply to employees of the agencies in Stein\u2019s cabinet, including the departments of commerce, environmental quality, transportation, public safety and adult correction. Stein\u2019s office said the order broadens the North Carolina State Ethics Act, which already outlaws state employee insider trading.<\/p>\n

\u201cWhen people use nonpublic information gained at work to get an unfair advantage, it erodes public trust,\u201d Stein said in a written statement Wednesday.<\/p>\n

Kalshi and Polymarket have both grown tremendously<\/a> in recent years. In contrast to traditional gambling, these sites don\u2019t coordinate bets against \u201cthe house,\u201d but rather connect people to enter future contracts. The values of these contracts fluctuate leading up to the events.<\/p>\n

Current prediction markets allow bets on whether North Carolina will repeat as the No. 1 state for business in CNBC\u2019s annual rankings and which candidates former President Barack Obama will endorse before the 2026 midterms. Previous markets have involved the impact of coastal hurricanes; disaster preparedness is the responsibility of the state Department of Public Safety.<\/p>\n

Read more Yachts, jets and women: NC billionaire Greg Lindberg to pay for billions he stole<\/a><\/p>\n

Stein\u2019s order precludes staff from betting in markets that significantly pertain to their work. It also prevents employees from using state resources to engage in these platforms. The governor is encouraging other Council of State members to issue similar guidance for their employees, his office said.<\/p>\n

Insider trading concerns have risen alongside the platforms\u2019 popularity. New accounts bet on recent U.S. military operations in Venezuela and Iran hours ahead of those actions. A U.S. Army solider stationed at Fort Bragg in Fayetteville<\/a> was later charged after allegedly leveraging classified information to make $400,000 betting on the ouster of Venezuela President Nicol\u00e1s Maduro.<\/p>\n

In February, Kalshi levied one of its first-ever insider trading penalties against a video editor for the North Carolina-based YouTube star MrBeast. The editor, who lived in Greenville, was eventually fired<\/a> after it was found he bet on markets pertaining to upcoming MrBeast videos.<\/p>\n

Prediction markets are regulated by the federal Commodity Futures Trading Commission. Traditionally a five-member agency, the CFTC currently has one member, Chairman Michael Selig, a Trump appointee who has been an ally to the emerging prediction markets.<\/p>\n

Minnesota this month became the first state to ban prediction markets<\/a> outright, a move Selig immediately sued to block.<\/p>\n

Read more Looking for sports this week? Triangle offers Canes, NCAA baseball, soccer, golf<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Gov. Josh Stein bans his North Carolina state employees from insider trading on prediction markets like Kalshi and Polymarket as politics and business bets rise<\/p>\n","protected":false},"author":1,"featured_media":1124,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-1125","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-read-todays-edition"],"yoast_head":"\nNC Gov. Stein to ban staff from betting on prediction markets with insider info - Durham Moving Hub<\/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:\/\/durhammovinghub.com\/?p=1125\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NC Gov. Stein to ban staff from betting on prediction markets with insider info - Durham Moving Hub\" \/>\n<meta property=\"og:description\" content=\"Gov. 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