Arizona: Governor Katie Hobbs Signs Executive Order Banning State Workers from Insider Trading on Prediction Markets

Phoenix, AZ ~ Phoenix, AZ - In a move to promote ethical standards and prevent insider trading, Governor Katie Hobbs of Arizona has signed an executive order prohibiting state executive branch employees from using nonpublic government information for personal gain on prediction markets.

The order, signed today, designates nonpublic information as confidential and strictly forbids its use for profit or to avoid financial loss. This measure aims to ensure that state workers remain focused on serving the people of Arizona rather than seeking personal enrichment.

Governor Hobbs stated, "Arizonans deserve a state government that works for them, not one where insiders exploit public service for their own gain. I am proud to set clear and commonsense ethical standards on prediction markets to hold our government accountable. Public service is a privilege, and we will not tolerate anybody abusing that privilege to line their own pockets."

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The need for this executive order was highlighted by recent media reports and federal indictments revealing that government employees in other states have used nonpublic information to win millions of dollars through wagers on government actions, including international military operations.

Under the new order, all executive branch employees are strictly prohibited from disclosing or using any nonpublic information for personal gain or assisting others in profiting from prediction markets. Any violation of the order may result in dismissal, other sanctions, and referral to law enforcement. Additionally, all nonpublic information obtained during public service that could be used for wagers is now officially designated as confidential.

Governor Hobbs also encourages other statewide elected officials, independent boards and commissions, and the judicial and legislative branches to adopt similar policies for their employees.

The full Executive Order can be read here. With this action, Governor Hobbs has taken a significant step towards promoting transparency and accountability within Arizona's state government.

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