Posted on: April 21, 2026, 08:22h.
Last updated on: April 21, 2026, 08:22h.
- Illinois governor signs executive order prohibiting trading on nonpublic information
- Ban pertains to state employees, political appointees and members of agencies and boards
- California recently adopted a similar policy
Illinois Gov. J.B. Pritzker (D) signed an executive order today barring state employees from potentially capitalizing on nonpublic information on prediction markets, joining a growing list of politicians telling employees yes/no exchanges are off limits.
The governor’s order prohibits any “Illinois state employee, officer, appointee or board member of any State Agency” from leveraging their positions and access to inside information for gains on prediction markets or by way of event contracts. Employees, appointees and board members are also banned from using proxies to profit on prediction markets.
Pritzker, an aspiring 2028 presidential candidate, as he’s known to do, wasn’t shy about pointing a finger at President Trump. The governor chided the president for lax oversight of prediction markets.
This opens the door to insider trading and abuse of confidential information,” said Pritzker in a statement. “While the Trump Administration continues to be riddled with stories of appointees looking to make a profit, Illinois is stepping up to ensure those who are serving the public not their own personal financial gain.”
In the statement, Pritzker’s office adds “extensive reporting” suggests White House insiders are making big bucks on prediction markets, leveraging their access to information that hasn’t been disclosed to the public.
Illinois at Odds with Prediction Markets
Prediction markets are a new industry, but the group and its federal regulator have rapidly butted heads with the Land of Lincoln.
Earlier this month, the Commodity Futures Trading Commission (CTFC) sued Arizona, Connecticut and Illinois on the grounds that those states are overstepping their authority in efforts to apply their gaming regulations to companies like Kalshi, Crypto.com and others. The CFTC says Illinois is attempting to close designated contract markets (DCMs), noting the Commodities Exchange Act (CEA) grants it, not states, the authority to regulate DCMs.
That suit drew rebuke from the states with Pritzker’s office noting the statement that the Trump Administration is attempting to infringe on states’ rights to oversee prediction markets.
“Such efforts would limit states’ ability to enforce consumer protections, establish guardrails, and prevent individuals from profiting off insider information in an industry that currently operates with little to no comprehensive regulation,” according to the press release. “Illinois maintains that states must retain the ability to protect consumers, uphold ethical standards, and ensure that new forms of wagering do not undermine public trust.”
List of Politicians Banning Prediction Markets Grows
With his executive order, Pritzker joins a growing list of politicians, many of whom are on his side of the aisle, taking hard lines against prediction markets. Some members of Congress have barred staffers from trading on yes/no exchanges.
Last month, California Gov. Gavin Newsom (D), likely another 2028 presidential hopeful, issued his own executive order barring Golden State officials from using nonpublic information for prediction markets profit.
The orders and intraoffice bans are logical steps for politicians to take because of yet, there are no laws banning insider trading on prediction markets, though some operators are taking steps to crack down on bad actors.
