MARYLAND (WBFF) — During an appearance on “Real Time with Bill Maher” Friday night, Gov. Wes Moore announced an executive order prohibiting Maryland state employees and contractors from using insider information obtained at their jobs to bet on online prediction markets.
The ban is effective immediately and is considered a fireable offense if violated, the order says.
Prediction markets, such as Polymarket or Kalshi, allow users to bet on a wide range of outcomes on real-life events. Prediction market bets can include what words a national news anchor might say during a broadcast, when a peace deal might be brokered between the U.S. and Iran, or who will be confirmed as the next chair of the Federal Reserve.
Moore’s announcement was met with applause from the studio audience. As an example of how “ridiculous” the problem is, he said there was nothing to stop him from betting he’d lose the Maryland governor’s race, purposefully throwing it and then cashing out to win a payout of about $4 million.
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