Legal
Microsoft expands insider trading policy to cover Kalshi and Polymarket
Microsoft has revised its Insider Trading Policy to prohibit employees from using confidential information on prediction markets. The updated policy specifically names Kalshi and Polymarket as covered venues, extending existing insider-trading restrictions to event-contract trading.
Why this matters?
Treats prediction markets as material venues where insider knowledge can be exploited, forcing other tech and finance firms to consider similar policy updates. Signals mainstream corporate recognition that event contracts carry real information-value risk.
The bigger picture
Microsoft's policy update explicitly naming Kalshi and Polymarket joins the CFTC's Santos settlement and Rule 40.11 proposal in tightening oversight around politically and materially sensitive trades.
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