The Governor of New York signed an executive order prohibiting state employees from using insider information to bet on prediction markets.

CoinFeed reported on April 23 that, according to The Block, New York Governor Kathy Hochul signed an executive order prohibiting state employees from using insider information to place bets in prediction markets. Hochul cited the "recent surge in prediction markets" in the executive order, prohibiting state employees from using non-public information obtained in the course of their duties to profit from or assist others in profiting from prediction markets. Illinois Governor JB Pritzker also issued a similar executive order on Tuesday. Meanwhile, Kalshi stated that she has handled three insider cases involving candidates betting on themselves, fining and suspending their qualifications. The penalized candidates include Minnesota Senator Matt Klein, Texas Representative candidate Ezekiel Enriquez, and Virginia Senator Mark Moran.