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Wintermute CEO Opposes Prediction Market Insider Trading: Exploiting Uninformed Users' Interests Lacks Ethics
BlockBeats News, January 6th, Wintermute founder and CEO Evgeny Gaevoy stated that he is against insider trading in prediction markets. If insider trading is normalized, it will be glorified as a feature rather than a loophole, which would be very regrettable. He has a strong disdain for those engaging in insider trading on Polymarket or Kalshi.
The post he retweeted also mentioned that even if you just smell a hint of non-public information, you should resolutely refrain from trading in that market. Perhaps insider traders may escape punishment, or perhaps not, but taking this risk is not worth it. Insider traders may find themselves behind bars for engaging in insider trading on Polymarket. It is extremely unethical to knowingly exploit an opportunity for sure gains and speculate, extracting profits from those in the dark.
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