White House told staff not to use nonpublic information to trade or bet during Iran conflict
The Facts
- The White House sent staff a warning on March 24 about using nonpublic or confidential information to place trades or bets.
- The warning email was sent by the White House Management Office to staff.
- The email came a day after President Donald Trump announced a pause in threatened attacks on Iranian energy infrastructure.
- The warning referenced concerns raised by press reports about government officials using nonpublic information on prediction-market platforms such as Kalshi or Polymarket.
- Recent well-timed trading and betting activity tied to developments in the Iran conflict prompted scrutiny over possible insider trading or leaks.
- White House spokesman Davis Ingle said federal employees are prohibited from using nonpublic information for financial benefit and rejected allegations of wrongdoing without evidence.
Context
What did the White House email say?
According to CBS News, the email said recent press reports had raised concerns about officials using nonpublic government information to place wagers on online prediction markets such as Kalshi or Polymarket, and it warned that using such information to buy or sell those contracts is a criminal offense CBS News. Other outlets similarly reported that the message warned staff not to use confidential or nonpublic information for trades or bets BBC,Bloomberg Business.
Why was the warning sent at that time?
The email was sent after unusual, profitable trades and bets were reported around major announcements related to the Iran conflict, including activity shortly before Trump announced a pause in threatened attacks on Iranian energy infrastructure News18,Bloomberg Business,NY Post. Multiple reports say that scrutiny of those trades helped trigger the reminder to staff about ethics and insider-trading rules NYT,BBC.
Did the White House acknowledge the warning?
Yes. White House officials confirmed to several outlets that the email was sent, while spokesman Davis Ingle said any suggestion that administration officials engaged in improper trading without evidence was baseless and emphasized that federal ethics rules already prohibit using nonpublic information for personal gain BBC,CNBC,Hill.
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