Goldman Sachs tightens employee bets in prediction markets

Goldman Sachs has instructed employees to limit their prediction-market bets to sports and entertainment due to compliance risks tied to material non-public information, with breaches potentially costing a job. The internal memo underscores banks' regulatory concern as platforms like Kalshi and Polymarket expand into financial bets on events such as elections and rates, drawing scrutiny over profits from advance knowledge; Kalshi is even exploring a multibillion-dollar funding round.