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White House Aides Were Told Not to Bet on Prediction Markets, CBS Reports

According to the Wall Street Journal, a March 24 White House notice barred staff from using confidential information in financial markets, including prediction markets, after suspiciously timed oil futures trading drew scrutiny.

Fact Check
The core of the statement is well supported by White House staff received email warning them not to place bets on prediction markets, officials say, which directly says White House aides received a March 24 email warning against using nonpublic information to place bets on prediction markets, including Kalshi and Polymarket. That same CBS report also says the warning followed scrutiny triggered by unusually timed oil-futures trading before Trump's March 23 post. Mystery Jump in Oil Trading Ahead of Trump Post Draws Scrutiny independently supports the suspiciously timed oil-futures portion by documenting the unusual pre-announcement surge in oil and S&P 500 futures trading. White House Warns Staff on Insider Trading Amid Iran War Bets further corroborates that the March 24 staff-wide email covered both financial markets and event-betting platforms and notes that the Wall Street Journal first reported the email. The only notable caveat is attribution: the user says 'According to the Wall Street Journal' for the full claim, but the most complete fetched account is CBS, while the fetched Wall Street Journal page specifically substantiates the oil-trading scrutiny rather than the full email language. So the substance is supported, with a small attribution imprecision.
Summary

White House staff were instructed in a March 24 internal notice not to use confidential information in financial markets, including prediction markets, according to the Wall Street Journal. The notice followed more than $760 million in crude oil futures trades placed less than two minutes roughly 15 minutes before Trump announced a pause in attacks on Iran. The update adds that the restriction was broader than a ban on prediction market betting alone, extending to misuse of nonpublic information across financial trading activity.

Terms & Concepts
  • Prediction markets: Platforms where users trade on the outcome of future events, with market prices often interpreted as implied probabilities.