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Four US banks restrict employees’ trading on prediction markets

Regulation

Goldman Sachs, Morgan Stanley, JPMorgan Chase and Bank of America have introduced or expanded restrictions on employee activity in prediction markets, according to reports. Their policies cover event contracts linked to companies, financial markets, politics or macroeconomic data, while Goldman Sachs permits sports and entertainment markets. The banks cited legal and reputational risk rather than a new regulatory requirement.

The banks’ policies add compliance constraints for staff engaging with prediction-market contracts.

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Deals & M&A

Four Native American tribes plan prediction market apps with Kalshi

Four Native American tribes plan to launch prediction market apps with Kalshi. Kalshi said the model could extend prediction markets to smaller, remote communities.

Kalshi has secured agreements with four tribes to release prediction market applications under tribal branding, according to the company. The group comprises three California tribes alongside a single Oklahoma tribe. Under the arrangement, Kalshi supplies the exchange infrastructure and handles clearing of trades, whereas the customer-facing portion of every app stays under tribal ownership and control.

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