Goldman Sachs bars staff prediction market bets on major events
Goldman Sachs just rolled out a new rule: employees can't bet on prediction markets tied to finance, politics, or big global events.
That means no wagers on election results, Bitcoin prices, mergers, cease-fire dates, or even Goldman's own stock.
If someone repeatedly breaks the rule, they could lose their job or have their account shut down.
The one exception? Sports and reality TV bets are still allowed.
Prediction markets raise leaked information worries
Prediction markets like Kalshi and Polymarket have become pretty popular lately, but they've also sparked worries about trading based on leaked information and insider tips.
Other big banks and hedge funds have started putting up similar barriers.
Even though Goldman's CEO David Solomon called these markets "super interesting" earlier this year, the risks were too much for the company to ignore.