U.S. diplomats warned: Do not use confidential information to place bets on prediction websites

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ME News report: On May 7 (UTC+8), according to an internal memorandum from the U.S. State Department seen by The Wall Street Journal, U.S. diplomats have been warned not to use confidential information to place bets on prediction websites. As betting funds related to negotiations between the U.S. and Iran pour in, the memo reminds all staff that abusing non-public information to gain financial benefits is a serious violation and will not be tolerated. A week before the warning was issued, a U.S. military special forces soldier pleaded not guilty to allegations of using classified information to bet on Polymarket about the impeachment and removal of Venezuela’s former president, earning more than $400,000 in profit. Officials said that the rapid rise of online prediction markets has become a major potential national security issue for the United States. Last month, just hours before Trump announced a ceasefire agreement with Iran, multiple accounts on Polymarket made precise and well-timed bets, earning profits ranging from tens of thousands to hundreds of thousands of dollars. (Source: ODaily)

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