VILLARAIGOSA STATEMENT ON BANNING GUBERNATORIAL APPOINTEES FROM USING INSIDE INFORMATION TO BET ON PREDICTIVE MARKETS

Villaraigosa: “All Elected Officials, Government Employees, and Contractors Should Be Banned from Betting on Predictive Markets”

LOS ANGELES, CA — Responding to Governor Gavin Newsom signing an Executive Order prohibiting gubernatorial appointees “from using any non-public information” to bet on prediction markets, such as Kalshi and Polymarket, Antonio Villaraigosa issued the following statement.

“Governor Newsom made the right call banning gubernatorial appointees from using inside information to bet on prediction markets, but the state must go further to protect public integrity and crack down on these illegal bets.

“All state and local elected officials in California, all government employees and appointees, and all government contractors should be prohibited from betting on predictive markets like Kalshi and Polymarket. As Governor, I will push for legislation to ban this activity, with strict accountability to end this practice and tough penalties to ensure all elected officials, government employees, and contractors follow the law”

-Antonio Villarigosa

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