Hollywood film companies prohibit employees from betting on prediction markets using insider information

According to Decrypt, Hollywood film companies and production companies are issuing guidelines prohibiting employees from using insider information to bet on prediction markets. The regulations prohibit employees from betting on events such as film company earnings reports, casting decisions, and release dates, and also prohibit sharing information with friends and family for them to place bets. At least one company has set up an anonymous hotline for employees to report colleagues suspected of betting.

Penske Media, the parent company of The Hollywood Reporter, updated its employee handbook in recent weeks to prohibit betting on award nominations, casting decisions, production schedules, and release dates. Joshua Mitts, a law professor at Columbia University who studies prediction markets, stated that many employers now have to consider insider trading rules from an ethical perspective, but enforcing these rules can be difficult, as transactions based on blockchain may be "virtually untraceable" if insiders use mixers and hide their identities layer by layer.