White House cautions staff over Iran war betting on prediction markets
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The White House has warned staff against using their positions to place bets in futures markets, following concerns that some of President Trump's policy decisions may have been preceded by well-timed bets. An unidentified trader or traders bet $500 million on crude futures shortly before Trump called a delay on attacks on Iran's energy infrastructure, leading to a 15% crash in oil prices.
The White House warned staff against improperly leveraging their positions to place bets in futures markets. This warning came after President Trump ordered a brief pause in some Iran strikes. Some of Trump's major policy decisions have been preceded by well-timed bets, raising questions about potential information leaks. An unidentified trader or traders bet $500 million on Brent and WTI crude futures shortly before Trump's announcement. Oil prices crashed 15% after the delay was announced. The White House management office sent a staff-wide email regarding the warning.
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