Wall Street Banks Implement Rules on Staff Betting on Prediction Markets

Major Wall Street banks, including Goldman Sachs, Morgan Stanley, JPMorgan Chase, and Bank of America, have added rules to their employee codes of conduct regarding prediction-market betting. These policies prohibit staff from participating in event-based contracts linked to financial markets and political events to prevent real or perceived conflicts of interest. The move addresses concerns about regulatory oversight as prediction-market platforms have grown rapidly.