Wintermute CEO opposes insider trading in prediction markets: exploiting uninformed users lacks morality

BlockBeats News, January 6, Wintermute founder and CEO Evgeny Gaevoy stated that he is opposed to insider trading in prediction markets. If insider trading becomes normalized, it will be glorified as a feature rather than a flaw, which would be very regrettable. He expressed strong disdain for those who engage in insider trading on Polymarket or Kalshi.

The forwarded post also mentioned that even catching a whiff of non-public information should be a firm reason not to trade in that market. Perhaps insider traders can escape punishment, or perhaps not, but taking such a risk is not worth it. Insider traders may end up in jail for insider trading on Polymarket. Knowing that it is a guaranteed profit and still speculating is extremely unethical, as it extracts profits from those who are unaware of the truth.