Goldman Sachs bans employees from making finance, politics bets on prediction markets: report

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Goldman Sachs Bans Employees from Trading on Prediction-Market Contracts

Goldman Sachs, a prominent Wall Street firm, has implemented a new policy that prohibits its employees from engaging in trading on prediction-market contracts linked to financial markets and political events. The decision was made to avoid any potential conflicts of interest that could arise from such activities within the bank, its clients, or the broader financial industry.

Goldman Sachs has barred employees from trading on prediction-market contracts linked to financial markets and political events. Sites like Polymarket and Kalshi offer event contracts that function similar to wagers on current events. AP Photo/Erin Hooley

Bloomberg News, which first reported the policy, stated that employees who violate the new rules may face disciplinary action, including termination, and could be required to forfeit any gains made from prohibited trades.

It is important to note that the ban does not extend to prediction-market contracts related to sports and entertainment, offering employees some flexibility in their trading activities.