Wall Street banks tighten prediction market rules for staff as insider fears spread
Wall Street banks including Goldman Sachs and Morgan Stanley are restricting employee trading on prediction markets Polymarket and Kalshi over insider trading concerns. The moves follow a Justice Department case where a Google engineer profited $1.2 million using nonpublic information. Meanwhile, Polymarket seeks margin trading approval from US regulators to expand its footprint as prediction markets hit record volumes.
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