Goldman Sachs Bans Employees from Participating in Financial and Political Prediction Market Trading

BlockBeats News, July 10th, according to Bloomberg, Goldman Sachs has banned its employees from trading on event prediction markets, with the exception of sports and entertainment-related bets. This is one of the explicit measures taken by the Wall Street institution to address new regulatory issues arising from the event betting craze.

Goldman Sachs recently updated its personal trading policy, prohibiting employees from trading in event contracts related to specific companies, including Goldman Sachs itself, as well as contracts related to election outcomes, any financial market performance, and other related contracts. If an employee violates the policy multiple times, it may result in termination or account closure; in cases of improper trading, Goldman may also require employees to surrender profits exceeding $200 or donate them to charity.

Goldman's policy explicitly prohibits employees from participating in event contracts related to company restructurings, mergers and acquisitions, cessation dates, Bitcoin prices, and merger regulatory approval results; however, contracts such as "Will a certain team win the championship" are still allowed. In contrast, JPMorgan Chase had previously only required employees to "exercise caution" before participating in finance-related prediction markets, while hedge funds like Point72 and Balyasny have completely banned employees from using prediction markets through personal accounts.