Gov. Evers signs executive order to prevent state employees from profiting from insider info

Governor Tony Evers signed an executive order on Thursday aiming to protect public trust in state government workers, according to a release.  Executive Order #294 prohibits Wisconsin state government workers from disclosing and using insider information available to them while working for the state in order to personally profit or benefit. Wisconsin has ‘robust’ state ethics laws and regulations for state employees, which are designed to uphold high standards of public integrity and transparency. However, Evers’ order responds specifically to the recent increase in prediction market contracts, betting and the use of nonpublic information by individuals to benefit themselves and/or family members. According to Evers’ office, there have not been any identified incidents of insider information being used inappropriately by state employees in Wisconsin. His order is, rather, in response to the growing trend and concern of prediction markets to wager on topics like governmental actions and elections nationwide. Other states have taken similar action to ban insider trading, including Illinois.