Hegseth warns prediction market bets warp military judgment, endanger troops
Summary
Ars Technica reports that Defense Secretary Pete Hegseth issued a memo warning military personnel against using nonpublic information to place bets on prediction markets, arguing such wagers can reveal operational details to adversaries. The piece cites a soldier charged with insider trading on Polymarket bets and a watchdog report showing suspicious market activity, and notes that platforms like Polymarket and Kalshi prohibit insider trading with potential disciplinary or criminal consequences.