Above Board: What Boards Need to Know About Prediction Markets

Above Board: What Boards Need to Know About Prediction Markets

From MoFo Perspectives Podcast by Morrison & Foerster LLP (MoFo)

April 30, 2026 · 21 min

About this episode

The episode discusses the implications of prediction markets for public companies, focusing on governance and compliance issues.

In this episode of the Above Board podcast, hosts Scott Lesmes and Haima Marlier are joined by Morrison Foerster partners Trevor Levine and Ryan Adams to examine the rapid rise of prediction markets and the governance, compliance, and enforcement questions they raise for public companies. Trevor explains how prediction markets operate, why they fall under CFTC jurisdiction, and the regulatory safeguards built into these markets. Ryan then explores the insider trading and anti-fraud risks prediction markets create for public companies, particularly where employees may trade on confidential or non-public information tied to corporate events. The discussion closes with practical guidance for boards and legal teams, including why companies should proactively update insider trading policies, codes of conduct, and employee training to expressly address prediction market activity.

People in this episode

Hosts: Scott Lesmes, Haima Marlier

Guests: Trevor Levine, Ryan Adams

Topics covered

  • prediction markets
  • corporate governance
  • compliance
  • insider trading
  • public companies

Keywords

  • prediction markets
  • CFTC
  • insider trading
  • corporate governance
  • compliance
  • public companies
  • anti-fraud risks

Mentioned in this episode

Organizations: Morrison Foerster, CFTC

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