Secretary of War Pete Hegseth issued a directive on Tuesday, Oct. 20, prohibiting all Department of War personnel from using nonpublic information to place bets on prediction markets, according to a copy of the memo obtained by news outlets [1].
The ban takes effect immediately and applies to active-duty service members, reservists and civilian War Department employees. The directive follows a high-profile insider trading case involving U.S. Army soldier Gannon Ken Van Dyke, who was indicted in relation to insider betting during the capture of Venezuelan leader Nicolas Maduro [1].
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