Goldman Sachs bans employees from some prediction market contracts

Goldman Sachs is placing restrictions on employee trading on some prediction markets, a source familiar confirmed to The Hill on Friday.

Staff at the investment banking giant are permitted to place wagers related to sports and entertainment but are barred from trading on markets tied to specific companies, financial markets or election outcomes. Bloomberg first reported on the new policy.

The updated policy comes as prediction markets, like Kalshi and Polymarket, have come under heightened scrutiny in the past six months over insider trading.

In one of the most high-profile incidents, a U.S. Army soldier was charged with using confidential government information about the January raid in Venezuela to place bets on Polymarket. He allegedly made more than $400,000 in........

© The Hill