The Governor of California signed an executive order banning insider trading in the market.

According to ChainCatcher, California Governor Gavin Newsom signed an executive order prohibiting government-appointed officials from using non-public information obtained in the course of their duties to engage in insider trading in prediction markets for profit. The ban is extended to their spouses, family members, and former business partners. The executive order explicitly states that public officials appointed by the governor are prohibited from using "confidential or non-public information" to participate in betting on political or economic events related to their duties. Newsom stated that public service should not be used as a tool for profit and emphasized the need to clearly define the boundaries between power and personal gain.