UMVA has learned that Wisconsin Governor Tony Evers has taken a bold step to prevent government corruption, signing an executive order that bars state employees from using confidential information to profit from prediction markets and online betting platforms.
The new order, Executive Order 294, applies to executive branch workers and prohibits them from leveraging nonpublic information obtained through their state jobs to personally gain financially, avoid losses, or assist others in profiting from prediction markets or related betting activity.
According to information obtained by UMVA, the order is a direct response to the growing trend of wagering markets tied to politics, sports, and government activity, which has been sweeping the nation. The governor's office believes that these platforms require more direct rules to maintain public trust and confidence in state government.
Wisconsin Governor Tony Evers emphasized the importance of maintaining transparency, accountability, and integrity in state government, saying, "State workers in Wisconsin work hard every day in dedicated service of the people of our state, often going above and beyond their job description and daily responsibilities to support Wisconsinites and our communities and meet their needs."
The governor's office pointed to a recent federal case involving a U.S. Special Forces soldier who used classified information to earn over $400,000 on a prediction platform, highlighting the need for stricter ethics standards. Wisconsin has also become a major battleground over prediction market regulation, with the state suing prediction market companies and federal regulators intervening in the dispute.
Evers' administration noted that other states, including Illinois, New York, Maryland, and California, have adopted similar restrictions tied to insider information and prediction markets. The U.S. Senate has also approved a rule prohibiting senators from trading on those platforms.
Under the Wisconsin order, employees who violate the policy could face termination, ethics referrals, disciplinary action, or possible law enforcement investigation. The move is seen as a significant step towards preventing government corruption and maintaining public trust in state government.
