Wintermute CEO opposes prediction market insider trading: exploiting uninformed users' interests is unethical

GateUser-6433627c · 2026-01-06T04:20:00+00:00

Wintermute CEO Evgeny Gaevoy opposes insider trading in prediction markets, believing such behavior should be strongly condemned. Even with insider information, trading should not occur; insider trading is not only unethical but can also lead to legal consequences. He emphasized that the normalization of insider trading would have a negative impact on the market.

GateUser-6433627c

2026-01-06 04:20:00

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On January 6th, Wintermute founder and CEO Evgeny Gaevoy stated that insider trading in prediction markets is unacceptable. If insider trading becomes normalized and is glamorized as a feature rather than a flaw, it would be very unfortunate. He expressed strong disapproval of those engaging in insider trading on Polymarket or Kalshi. In a reposted message, he also mentioned that even a faint whiff of non-public information should be met with a firm refusal to trade in that market. Perhaps insider traders can escape punishment, or perhaps not, but taking the risk is not worth it. Insider traders could end up behind bars for trading on Polymarket. Knowing that the trade is risk-free and still choosing to speculate is extremely unethical and amounts to exploiting those who are unaware of the truth.

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