Hegseth bans DoD personnel from using nonpublic info to bet on U.S. military ope

[Ronsbit]

As long as prediction market do exist,  no matter how they put laws restricting military or government officials and officers from participating in betting and predictions, those who wants to involve in such would still don't. Have they not been doing such years before now, if not for the carelessness or whatever you call it that got these sets of officers and government officials exposed would they have known that the bettor is a government personnel? This tells you that they have been doing such for years without any body noticing them and there are still dozens of them in government that still indulge in such act.

[Coyster]

First off, why do they let those prediction markets have lines about US military operations? They should instantly ban those lines because they're not just prone to manipulation, but they also encourage those who know about it to try to place their bets. It should not even exist in the first place. Those prediction markets started it.

These prediction markets offer a wide variety of options to place bets on, from politics, to sports, crypto events, etc. So there are definitely going to be markets on political events, like military operations, it is normal. There is nothing the authorities can do about that, neither should anything be done about those markets. It should be open for people to place their predictions, except those with inside information, which is obviously an offence.

[Fortify]

In short Defense Secretary Pete Hegseth has banned Defense Department personnel from using nonpublic information to bet on United States military operations. No United States military personnel will be allowed to use nonpublic information to bet on United States military operations saying that financial transactions on prediction markets could expose sensitive military movements to foreign adversaries and endanger American troops.

Well I'm pretty sure that the military should not be using any insider knowledge to advance their own personal wealth and there were laws against this before *War* Secretary Hegseth came along. It's probably just another manipulative soundbite for the press but has very little substance underneath it. "Non public" information is another term for military secret and people used to be locked up for treason when they divulged such information (in any form). It's funny that this is only applied to the military, yet there is clearly much worse abuse taking place within the civilian side of government, but then the rot started from the very top. I don't think any laws needed changing to prosecute people for this sort of leak and if they thought it was widespread then why hasn't any action been taken so far?

[yahoo62278]

In short Defense Secretary Pete Hegseth has banned Defense Department personnel from using nonpublic information to bet on United States military operations. No United States military personnel will be allowed to use nonpublic information to bet on United States military operations saying that financial transactions on prediction markets could expose sensitive military movements to foreign adversaries and endanger American troops.

https://www.cbsnews.com/news/hegseth-betting-ban-military-operations/

Just because he banned it doesn't mean they will not figure out a way to bet without using their own accounts. Long lost cousin or someone they trust could easily place a prediction for them.

Just saying military cannot use info is not enough, banning predictions on military operations is the only way to go IMO.

[_act_]

These prediction markets offer a wide variety of options to place bets on, from politics, to sports, crypto events, etc. So there are definitely going to be markets on political events, like military operations, it is normal. There is nothing the authorities can do about that, neither should anything be done about those markets. It should be open for people to place their predictions, except those with inside information, which is obviously an offence.

You are right, but there is a lot that the government can do about it. Just that the government do not mind and there can be politics going on underground about it. United States can just say prediction market should not offer it and they have to comply. I mean both Polymarket and Kalshi because they are licenced in the United States. But I also think that is not the right thing that should be done. Insider betting should be what they should go against.

[Merit.s]

If only the DoD personnels will be obedient to this instruction but there must be a black goat among them that wouldnt listen because he needs to hit it big when he knows has the insider information to bet on prediction market to win big. He will simply, use someone else's account to place the bet indirectly.

I don't think this will help stop these personnels from betting with non-public information. It's just like using your fingertips to push the iceberg.

[Coyster]

But I also think that is not the right thing that should be done. Insider betting should be what they should go against.

Yes, that's exactly my point. I understand that the government can take stricter measures and ban that option, but there are only a few or limited number of people that are privy to information on classified U.S. military operations. So i don't think it makes sense to ban that market for everyone else, just because of a handful of people. It is better for offenders to face strict punishment, so it serves as a deterrent to others.

[348Judah]

In short Defense Secretary Pete Hegseth has banned Defense Department personnel from using nonpublic information to bet on United States military operations. No United States military personnel will be allowed to use nonpublic information to bet on United States military operations saying that financial transactions on prediction markets could expose sensitive military movements to foreign adversaries and endanger American troops.

https://www.cbsnews.com/news/hegseth-betting-ban-military-operations/

I like this move he made because it will prevent those that could use prediction market as an avenue to expose some of their secrets in the military, especially those that will take advantage of being in form of some sensitive information and take it to the prediction market for their personal profit in which is totally wrong, especially if you are a military personnel.

[Agbe]

The last time if am not forgetting, there was a special force agent who was in among the planing and capture of former Venezuela president who bet on his capture. And catched out big before finally he was exposed that, was indeed a special force agent and was ordered to pay a fine. This type of moved will help bring decorum and discipline to the military because, people can become so funny and go out of their discipline just to make money.

If things like this is left unchecked o over time, enermies can utilize it as a weakness and capitalize on it to make the operations of the United States military vulnerable to their enermies.

[Alphakilo]

The Public Integrity in Financial Predictions Market Act is supposed to already put this ban in motion since the DoD is also a government office that includes federal officials and employees as well.
It's a good ban though for privacy of internal information and I think other countries should go by same protocols too, so as to prevent a leak of sensitive information on the predictions market platform and to also prevent insider trading at best.

[VictorWinston]

In short Defense Secretary Pete Hegseth has banned Defense Department personnel from using nonpublic information to bet on United States military operations. No United States military personnel will be allowed to use nonpublic information to bet on United States military operations saying that financial transactions on prediction markets could expose sensitive military movements to foreign adversaries and endanger American troops.

https://www.cbsnews.com/news/hegseth-betting-ban-military-operations/

My question is why only now? Why didn't anyone forbid this earlier I know there are insider trading laws but this feels like a whole new level. I can't believe it was even possible.

[Moreno233]

I like ths decision because doing that is the same as insider trading and who knows, such bets can be used to compromise military intelligence and that will have serious consequences.  I was beginning to think that prediction markets have created opportunity for people privy to information within the ranks for the US government to enrich themselves just like we heard about the case of Donald Trump's teleprompter who made huge wins using insider information.

[Davidvictorson]

This is absolutely what a leader should do. The security of your nation comes first because should anything happen such as an attack on your country people you will be held liable as it was your responsibility to protect the people. I was hoping that I would see where there would be consequences stated for those who would break this ban. On the other side, prediction market still has to be held responsible for permitting some of these types of predictions that could put a country at risk.

[EluguHcman]

In short Defense Secretary Pete Hegseth has banned Defense Department personnel from using nonpublic information to bet on United States military operations. No United States military personnel will be allowed to use nonpublic information to bet on United States military operations saying that financial transactions on prediction markets could expose sensitive military movements to foreign adversaries and endanger American troops.

I don't even see it fun and safe why every of the world events is almost being featured in the prediction market.
With all the security analysis I support why the insiders will be allowed to bet on the military operation system and like said, enemies can actually use the medium to pre predetermine or track their opponent.

The game outcomes from the military officials game histories may be translated to weaken the security of the other.
But with this mentality, does it really make sense for the military activities to be betted on in the so prediction market because, it is ideally that it can contract negative influence to the society.

[Pandorak]

Finally, someone has taken action, this is exactly how it should be, because information like this is extremely sensitive and must not be leaked or exploited in the slightest by a few greedy individuals who only want to line their own pockets, so this is a very appropriate decision. After all, what’s at stake here is national security, in this case, so many lives could be put at risk if the information were to actually leak out and be exploited by the enemy. But of course, this individual won’t understand that, because all he thinks about is the potential profit he might gain from the information he possesses. So this is a wise move by a leader.

[lombok]

I like ths decision because doing that is the same as insider trading and who knows, such bets can be used to compromise military intelligence and that will have serious consequences.  I was beginning to think that prediction markets have created opportunity for people privy to information within the ranks for the US government to enrich themselves just like we heard about the case of Donald Trump's teleprompter who made huge wins using insider information.

Indeed, we need to know that there are risks associated with using internal military information in gambling activities by the national defense personnel. Getting rich through classified information is as grave as the manipulation of trade on a very illegal basis. Failure to keep the operational secrecy of combat puts many people life at risk every day.

There are political prediction markets where government employees can earn their money. There have been many instances in which speech personnel of important persons have made money through this information. It is imperative that this should be prohibited.

[jossiel]

That is the right thing to do. Using their situation and position in betting for their own advantage. The article also indicates the guy who did that prediction for Maduro's arrest.

They never learn from the early incidents about this insider trading. They're willing to go an extra mile just to win this quick bet to satisfy their pocket.

This serves as a warning too to all employees military and not working for the government to avoid getting involved in any bet involving a government move.

[Hispo]

In short Defense Secretary Pete Hegseth has banned Defense Department personnel from using nonpublic information to bet on United States military operations. No United States military personnel will be allowed to use nonpublic information to bet on United States military operations saying that financial transactions on prediction markets could expose sensitive military movements to foreign adversaries and endanger American troops.

https://www.cbsnews.com/news/hegseth-betting-ban-military-operations/

In my opinion, this is actually just a matter of common sense, though.
Even if there was not an open and clear ban for military personnel to bet on prediction markets, I believe it would be obvious for someone in the army that their bets could be considered dangerous to their own brothers and sisters of arms. A single big movement at the right time could give hints to adversaries about what the USA military nay he planning.

Still, I bet this ban will not stop all military personal from betting using privileged information, greed can be very powerful and push people to do things they never thought capable of.

[RGBTC]

First off, why do they let those prediction markets have lines about US military operations? They should instantly ban those lines because they're not just prone to manipulation, but they also encourage those who know about it to try to place their bets.

Because not all prediction market platforms are based in the US. It is better to allow this type of prediction to remain permitted under strict supervision, rather than bettors looking for alternative offshore platforms that are more difficult to moderate.

[Julien_Olynpic]

This decision is logical, as the use of insider information in prediction markets violates numerous laws—both legal and moral. Furthermore, it's a military secret. But the very fact that such a regulation was issued at all suggests that moral prohibitions are insufficient. And we know that any prohibitions against people often act like a red rag to a bull. People are eager to break prohibitions—as the Bible says, forbidden fruit is especially sweet. I think insider information will still be used, just more covertly, through proxies.