Studios Bar Staff From Betting on Confidential Industry News

Studios and production companies are issuing employee rules barring prediction-market bets based on confidential entertainment-industry information, including casting, release dates and company earnings, according to reporting on the policies. The guidance also prohibits employees from passing tips to friends or family so they can place bets, and at least one company has established an anonymous hotline for reporting suspected violations. Penske Media, the parent company of The Hollywood Reporter, Variety and Deadline, updated its employee handbook to prohibit bets involving award nominations, casting decisions, production timelines and release dates. The reported restrictions reflect employers’ efforts to address the use of nonpublic workplace information on platforms such as Kalshi and Polymarket. The reports did not identify most of the companies issuing guidance or detail potential disciplinary measures. The policies may be difficult to enforce when bets are made through blockchain-based platforms. Joshua Mitts, a Columbia law professor who studies prediction markets, said that users able to conceal their identities can be difficult to trace. Employers may struggle to...