Wall Street banks, including Goldman Sachs and Morgan Stanley, are restricting employee prediction market trades as insider trading fears spread across Polymarket and Kalshi.
Wall Street banks are restricting employee trading on prediction market platforms due to fears that they may use nonpublic information to trade event contracts.
Goldman Sachs has reportedly banned its employees from trading on event contracts that are specific to the bank, including financial markets, macroeconomic events, elections and geopolitics, CNBC reported, citing people familiar with the matter.
Unidentified sources from Morgan Stanley also told CNBC that the bank has policies regarding prediction market trading by employees, while a spokesperson for Bank of America said the bank was in the process of issuing new prohibitive measures for employees on prediction market trading.
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