Today, the Maricopa County Board of Supervisors unanimously approved a new policy to prohibit employees from using nonpublic information to personally profit from prediction markets.
Public servants often work with confidential information before it becomes public knowledge. This new policy prevents county employees from using privileged information as a way to gain an advantage in prediction markets. This type of policy helps residents have confidence that the decisions made at the county level are made with residents in mind, not personal profit.
This vote positions Maricopa County as a leader on this topic, becoming the first major U.S. county to implement prediction market policy.
“In our ever-changing world, it’s important to remain vigilant and proactive when it comes to policy,” said Sup. Thomas Galvin, District 2. “I am grateful to my Board colleagues and County staff for their quick and comprehensive work to ensure this policy is airtight. This policy is especially imperative as we approach a competitive midterm election.”
It is already illegal for anyone to wager on the outcome of elections in Arizona under A.R.S. 16-1015.
