Governor Pritzker’s executive order outlaws the use of inside information by state employees
Illinois Governor JB Pritzker signed an executive order Tuesday to strengthen state ethics rules on prediction markets.
A statement from the Governor’s office said that the executive order is in response to the Trump administration’s failure to provide federal oversight of prediction markets.
Executive Order 2026 – 04 aims to strengthen guardrails across state government by prohibiting state employees from using non-public information to participate or assist any person in prediction markets and event-based contracts.
“Prediction markets have rapidly grown into a space where people can bet on real-world events without any oversight, including events people can influence,” said Governor Pritzker. “This opens the door to insider trading and abuse of confidential information.
“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.”
Earlier this month, the Commodity Futures Trading Commission (CFTC) filed complaints against Illinois and other states to uphold its “clear and longstanding exclusive jurisdiction to regulate event contracts under the Commodity Exchange Act”.