politics
Arthur Hayes Says Prediction Markets Should Allow All Information
Arthur Hayes, chief investment officer at Maelstrom Fund, stated that prediction markets should not restrict insider information. He argued that prices should reflect all available data except in cases of theft or fraud.
May 26, 7:31 AM·1m read1 source
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Arthur Hayes, chief investment officer at Maelstrom Fund, said prediction markets such as Kalshi and Polymarket should not impose restrictions on the use of insider information. Hayes stated that market participants make better decisions when prices incorporate all possible information.
"Data deserves to be free, and market participants can make better decisions if all possible information is reflected in the price of things," Hayes said in a statement shared with Benzinga. Hayes, who co-founded BitMex, argued that prediction markets require no additional rules beyond existing laws against theft and fraud.
The statement comes as congressional committees examine oversight of prediction-market platforms.
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