California Governor Gavin Newsom has signed an executive order banning state officials from using insider information to place bets on prediction market platforms, such as Polymarket and Kalshi. These platforms allow users to trade "contracts" on future events outside of sports, which are different from traditional gambling venues like DraftKings or FanDuel. The move comes as the Obama administration faced insider trading accusations following a series of suspiciously timed oil trades, which were collectively worth $580 million. A group of bipartisan senators have introduced the Public Integrity in Financial Markets Act of 2026, which would apply to the president, vice president, members of Congress, and their staff, along with political appointees and personnel at executive and independent regulatory agencies.