Key Takeaways

• Six fresh Polymarket accounts collectively profited $1 million by wagering on US military action against Iran ahead of the February 28, 2026 deadline.
• The majority of these accounts received funding and executed trades within a day of the actual strikes, with positions opened mere hours before explosions hit Tehran.
• One account transformed approximately $61,000 into more than $493,000 in gains.
• Bubblemaps, a blockchain analytics company, identified these accounts as “suspected insiders,” while acknowledging definitive proof remains elusive.
• Congressman Ritchie Torres is advancing legislation aimed at prohibiting federal employees from participating in prediction markets involving government actions.

Six recently established cryptocurrency wallets generated approximately $1 million in profits on the Polymarket prediction platform by wagering that Washington would launch strikes against Iran before February 28, 2026 — with the bulk of these positions established just hours ahead of initial blast reports from Tehran.

Blockchain intelligence provider Bubblemaps identified the six accounts after detecting an unusual timing correlation. The accounts were predominantly established and capitalized within a 24-hour window preceding the military action, with all purchasing affirmative shares on the Polymarket question “US strikes Iran by February 28, 2026?”

President Donald Trump announced “massive and ongoing” military strikes against Iran, designated as “Operation Epic Fury” by the Department of War. Israel participated alongside US forces in the operation.

The most profitable account acquired 560,680 affirmative shares at approximately 10.8 cents per unit, investing around $61,000. Upon contract settlement, the position yielded profits exceeding $493,000.

Another account operating under the name “Planktonbets” secured $173,907 across seven different prediction contracts. This wallet had previously placed smaller unsuccessful wagers on alternative strike dates, indicating multiple attempts to pinpoint the precise timing.

An account labeled “Dicedicedice” executed a solitary wager that generated $119,964 — representing a 400% gain. Meanwhile, “Neodbs” achieved the most impressive percentage return among identified wallets at 900%, converting $9,884 into approximately $89,000.

Two additional accounts, “nothingeverhappens911” and one unnamed wallet, secured $66,436 and $45,556 respectively. All six accounts have subsequently liquidated their entire positions.

Significant Losses Recorded for Opposing Trader

Not all participants saw gains. A market participant identified as “anoin123” had accumulated over $2 million wagering against military strikes during preceding months. After the attacks materialized, this account suffered $6.5 million in losses within 24 hours, plummeting from $2 million in profits to a $4.5 million deficit, based on blockchain analytics from Lookonchain.

Bubblemaps CEO Nicolas Vaiman explained to The Block: “It’s almost impossible to be 100% certain in these cases, but given the size of the bets, the freshly funded wallets, and the timing, it felt convincing enough to share.”

The entire series of “US strikes Iran” prediction contracts generated over $529 million in aggregate trading volume on Polymarket beginning in December 2025. The specific February 28 contract attracted approximately $90 million in activity.

Recurring Concerns About Privileged Information

This incident represents another episode where Polymarket confronts allegations of trading based on privileged information. During January, a newly created account wagered $32,000 on Venezuelan President Nicolás Maduro’s removal at 7 cents per share, securing over $400,000 before public announcement.

Earlier this month, Israeli authorities charged an IDF reservist alongside a civilian for purportedly exploiting classified military data to trade on Polymarket contracts related to Israel’s strike against Iran during the June 2025 Twelve-Day War. The defendants allegedly generated combined profits exceeding $150,000.

Mere days before the Iran military action, suspected insiders reportedly earned over $1 million through a Polymarket contract connected to a blockchain examination of cryptocurrency platform Axiom.

US Representative Ritchie Torres has proposed the Public Integrity in Financial Prediction Markets Act of 2026, legislation designed to prevent federal officials from trading prediction market contracts related to governmental policy using confidential information. Competing platform Kalshi has publicly supported the proposed legislation, with its chief executive noting that regulated prediction markets are prohibited from hosting war-related contracts.

TLDR

• BTC plummeted to $63,000 following coordinated U.S.-Israeli military strikes that resulted in Supreme Leader Ayatollah Ali Khamenei’s death
• The cryptocurrency rebounded to $68,000 in mere hours as investors speculated the event might de-escalate regional tensions
• Approximately 157,000 positions were liquidated across exchanges, totaling $657 million in forced closures
• February concluded as Bitcoin’s third-worst performing month historically, declining nearly 15%
• Major altcoins including XRP and Ethereum mirrored Bitcoin’s recovery trajectory, with ETH holding near $2,000 and XRP around $1.40

Saturday witnessed a dramatic collapse in Bitcoin’s price, plunging to $63,000 as news broke that coordinated airstrikes by the United States and Israel had killed Iran’s Supreme Leader Ayatollah Ali Khamenei.

The selloff was immediate and aggressive. In a matter of hours, thousands of dollars evaporated from Bitcoin’s valuation as market participants scrambled to process the unprecedented geopolitical development.

Confirmation came through Iranian state-controlled media outlets. The Supreme National Security Council of Iran released a statement indicating Khamenei was killed while at his office location.

President Donald Trump acknowledged the strike through a Truth Social post, describing Khamenei as “one of the most evil people in history.”

The airstrikes also claimed the lives of Iran’s Revolutionary Guard Corps commander and the secretary of the Defense Council.

Following official confirmation, Bitcoin’s trajectory reversed dramatically. By the early hours of Sunday, BTC had surged back to $68,200 on the Coinbase exchange.

This represented an extraordinary $5,000 price movement within a single day, translating to approximately $80 billion in market capitalization fluctuation.

Massive Liquidations Sweep Crypto Markets

The volatility triggered widespread liquidations across leveraged trading positions. Data from CoinGlass indicates approximately 157,000 traders saw their positions forcibly closed during this 24-hour window, with aggregate liquidations hitting $657 million—distributed almost equally between bullish and bearish leveraged bets.

Market analyst Ash Crypto suggested that traders reinterpreted Khamenei’s assassination as potentially signaling an endpoint to U.S.-Iran hostilities, triggering the rapid price recovery.

Ethereum regained ground approaching the $2,000 threshold, while XRP stabilized near $1.40, demonstrating how the broader cryptocurrency market tracked Bitcoin’s volatility.

Bitcoin’s Sunday recovery restored prices to Friday’s levels, though the asset continues trading within a three-week consolidation range.

Historic February Decline for Bitcoin

The weekend bounce notwithstanding, February proved disastrous for Bitcoin, closing down approximately 15%—marking the third-worst February performance in its entire history.

This represented only the fourth negative February since 2013. The worst February on record occurred in 2014, when Bitcoin crashed 31%.

Year-to-date performance is equally concerning, with BTC tracking toward its weakest first quarter since 2018, having declined roughly 23% since January 1.

Iran’s Revolutionary Guards have initiated retaliatory military operations against nations providing bases for U.S. forces, and reports confirm at least one fatality following a counter-strike on Israeli territory.

Constitutionally, Iran will now be governed by an interim council comprising the president, judiciary chief, and a Guardian Council representative until the Assembly of Experts selects a permanent successor.

As of this writing, BTC trades near $67,350, with analysts focusing on Sunday’s opening of oil and equity futures markets as the next critical indicator for whether cryptocurrency’s recovery momentum can be sustained.

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ETH is still trading in a clear downtrend, and the market is reacting fast to both macro risk and geopolitics. With the war in the Middle East adding extra uncertainty, Ethereum is sitting near the 1,800 area on the chart, right on a key demand zone where buyers have tried to defend multiple times.

Ethereum Price Analysis: The Daily Chart

The daily structure remains bearish inside a descending channel, and the price is still capped by the downtrend lines and the 100-day and 200-day moving averages overhead. Until ETH reclaims the major $2,400 and $2,800 resistance levels, rallies look more like relief bounces than a true reversal.

Meanwhile, the nearby support area is located at the $1,850–$1,700 demand zone, and if this level breaks down, the next downside levels to watch are around $1,600 and the $1,400 mark, just above the lower trendline of the descending channel.

ETH/USDT 4-Hour Chart

On the 4-hour timeframe, ETH is behaving more like a range within the larger downtrend, with the price rotating between the support level near 1,800 and the resistance level near recent highs around $2,150. The last push into this level got rejected decisively, which keeps the short-term momentum tilted to the downside.

A bullish shift would require holding the $1,850 level and then reclaiming the $2,150 highs with follow-through, which could open a move back toward the $2,400 supply zone. But if the $1,850 support level fails and turns into resistance on a retest, the road toward the $1,600 mark and below will be cleared.

On-Chain Analysis

The Ethereum Total Value Staked chart demonstrates an aggressive uptrend while the price trends down, which is a supportive long-term signal. It implies more ETH is being locked into staking rather than staying liquid, reducing the readily available supply over time. This behavior could be due to the long-term conviction of investors, as they are buying ETH at discounted prices and locking in for the long term.

However, this does not mean the bottom is guaranteed to be nearby, because the price can still drop if forced selling and deleveraging continue. But if the market reclaims the key resistance levels while staking keeps climbing, it strengthens the case for a more durable recovery later on.

TLDR:

• A developer built an Ethereum 2030-aligned client prototype with 700,000 lines of code in two weeks using AI.
  
• Vitalik Buterin rebuilt his blog software in one hour using a 20B-parameter model running on his laptop.
  
• AI is accelerating formal verification efforts within the Lean Ethereum project, boosting protocol security.
  
• Buterin says bug-free code, once seen as unrealistic, could become achievable through AI-assisted verification. 

Ethereum co-founder Vitalik Buterin says artificial intelligence is rapidly accelerating Ethereum development, pointing to a developer who built a full client prototype in just two weeks.

AI Speeds Up Ethereum Client Development

A developer recently used agentic coding to build an Ethereum client prototype aligned with the 2030+ roadmap. The prototype contained roughly 700,000 lines of code and covered 65 roadmap items.

It also successfully synced with the Ethereum mainnet, a notable technical achievement. This was accomplished in only two weeks, without finalized Ethereum Improvement Proposals in place.

Buterin acknowledged the prototype carries serious caveats given how quickly it was built. He noted it almost certainly contains critical bugs throughout its codebase.

Some features are likely “stub” versions, where the AI did not attempt a full implementation. Still, he stressed that the trend itself is what matters most.

On X, Buterin shared his own experience testing AI-assisted coding tools. He wrote that he used a 20-billion-parameter model running locally on his laptop to rebuild his blog software in one hour.

He added that a more powerful model like Kimi-2.5 would have likely completed the task in a single prompt. These results point to how fast AI coding tools are improving across different scales.

Buterin framed the speed gains not as a reason to rush, but as an opportunity to do more thorough work. He suggested developers split AI-driven gains equally between speed and security.

Faster development, in his view, should come alongside more rigorous testing and verification processes.

Formal Verification and Security Stand to Benefit

Beyond raw speed, Buterin pointed to formal verification as a major area where AI can contribute to Ethereum’s security.

A collaborator working on the Lean Ethereum project used AI to produce a machine-verifiable proof of one of the most complex theorems underlying STARK security.

This kind of work was previously slow and required deep mathematical expertise to complete. AI tools are now making it more accessible and faster to produce.

The Lean Ethereum effort is centered on formally verifying every component of the protocol. AI is actively accelerating that process, according to Buterin.

More test cases can now be generated at a much higher volume than before. Even when bugs appear, the process of finding and resolving them can happen five times faster and ten times more thoroughly.

Buterin also raised the possibility that bug-free code, once considered unrealistic, could become achievable. He was careful to frame this as a possibility, not a certainty.

He noted that total security remains out of reach, since code can never fully capture everything in a developer’s mind. However, specific security claims can be verified in ways that remove over 99% of risks from broken code.

Six Polymarket traders earned roughly $1 million after accurately predicting that the United States would strike Iran before February ended, triggering insider trading concerns on the platform. The six wallets all appeared in February and placed the bulk of their activity on contracts forecasting the timing of a potential U.S. attack, a pattern highlighted by data analytics firm Bubblemaps SA and reported by Bloomberg. In several instances, these bets were opened just hours before explosions were first reported in Tehran, with some contracts purchased for around $0.10 per unit.

On-chain investigators have begun to flag the clustering of new wallets and the rapid-fire timing as reminiscent of insider activity observed in other prediction-market episodes. While such activity is not proof of wrongdoing, it has intensified scrutiny of how information flows can influence decisions on platforms like Polymarket. Attempts to obtain comment from Polymarket prior to publication were not successful.

During the broader escalation, more than $529 million flowed into Polymarket’s strike-related contracts, underscoring the platform’s role as a liquidity vector during geopolitical spikes. The February 28 contract drew roughly $90 million in trading volume, making it the most active date among traders, while an earlier January 31 scenario accounted for roughly $42 million.

It’s important to note that one flagged account had previously lost money on an earlier prediction before placing a larger wager that later yielded more than $170,000, illustrating that a single pattern does not conclusively indicate manipulation. Washington had signaled possible military action for weeks, a backdrop that likely contributed to speculative activity on the platform.

Beyond the Iran-focused bets, Polymarket has faced regulatory scrutiny across multiple jurisdictions. Authorities in the Netherlands, Hungary, Belgium, France, Italy, Romania, Poland, Singapore, and Portugal have moved to block or ban the platform, classifying its event-based contracts as unlicensed online gambling rather than financial trading. The evolving regulatory environment adds a layer of uncertainty for users seeking to trade events tied to real-world outcomes.

The broader insider-trading conversation around Polymarket is not limited to Iran. This week, a cluster of crypto wallets earned more than $1.2 million betting on a contract tied to an on-chain investigation into the Axiom DeFi project, following claims by ZachXBT that an Axiom employee and associates had engaged in insider trading since early 2025. Earlier coverage highlighted a separate Polymarket bet linked to the capture of Venezuelan President Nicolás Maduro, where a single wallet reportedly netted about $400,000 after placing bets moments before the news broke. These examples collectively illustrate the tension between market-discovery dynamics and the potential for information asymmetry to influence outcomes on prediction markets.

As the sector contends with these episodes, lawmakers are not standing still. A bill proposed by U.S. Representative Ritchie Torres, the Public Integrity in Financial Prediction Markets Act of 2026, aims to curb insider trading on prediction platforms by restricting trading for officials or other individuals who possess nonpublic information related to government policy or political outcomes. The proposal underscores a broader push to align digital prediction markets with traditional securities and gambling regulations, a topic that has gained attention amid a wave of enforcement and licensing actions around the world.

Polymarket Iran strike bets draw $529 million in volume

During the height of the Iran-related escalation, Polymarket saw more than $529 million in flow across its strike contracts. The most active line was the February 28 event, which attracted about $90 million in trading activity, indicating a strong appetite for event-driven bets during periods of geopolitical risk. A separate late-January scenario still drew tens of millions in volume, demonstrating sustained interest in predicting real-world outcomes as tensions evolved.

While observers caution that correlation does not equal causation, the clustering of new wallets around sensitive geopolitical bets raises questions about how nonpublic information and timing can influence on-chain markets. Investigators have stressed that the existence of a profitable trade in itself is not sufficient evidence of illicit activity; however, patterns that mimic prior insider-trading signals merit careful examination by platform operators and regulators alike.

The Merits and Limits of Prediction Markets

Polymarket’s experience occurs within a broader ecosystem of event-based markets that promise rapid, real-time pricing of outcomes ranging from geopolitics to sports. Critics argue that the very design—where users can trade on ever-narrow event windows—makes these platforms susceptible to information advantage and potential manipulation. Proponents counter that prediction markets can aggregate dispersed information and provide useful signals for participants. The tension between innovation and oversight remains a defining dilemma for the crypto-driven prediction space.

The ongoing regulatory dragnet adds layers of complexity. As Polymarket has faced bans in multiple jurisdictions, users and developers alike are watching how licensing regimes will evolve. The enforcement posture in Europe, North America, and parts of Asia will likely influence the pace at which such markets expand or contract, depending on how regulators classify event-based contracts and whether they require traditional financial-license frameworks, gambling licenses, or a hybrid approach.

Meanwhile, the ecosystem continues to document and debate incidents of suspected insider activity. The cases tied to Axiom and Maduro, alongside the Iran-related bets, are shaping a narrative about information flow, anonymity, and risk management in on-chain markets. For participants, this translates into heightened due diligence, stricter privacy controls, and more rigorous withdrawal and settlement procedures as platforms navigate evolving compliance requirements.

The Iran episode also prompts a closer look at the broader market consequences. Liquidity surges around high-stakes news events can amplify price discovery but may also increase the risk of mispricing if information leaks influence trading behavior ahead of public disclosures. In this context, regulators and platform operators face the challenge of balancing transparency, user protection, and the fundamental promise of decentralized event markets to reflect real-world developments in near real time.

As the sector moves forward, market participants should monitor regulatory developments, platform policy changes, and ongoing investigative efforts that could shape how prediction markets operate in the coming months. The core takeaway is not merely about a single trade but about how a burgeoning asset class negotiates governance, legality, and the integrity of information in a rapidly evolving financial landscape.

Why it matters

The episode highlights the rising prominence of prediction markets within the crypto ecosystem and the ongoing debates about their governance and legitimacy. For traders, the events emphasize the dual nature of these platforms: they can surface timely information and provide hedging opportunities, yet they also expose participants to regulatory risk and the potential for nonpublic information to influence outcomes. For platform operators, the incidents underscore the need to implement robust identity and telemetry controls, transparent policy guidelines, and clear responses to investigations and licensing inquiries.

From a policy perspective, the convergence of digital markets and geopolitical risk invites a rethinking of how prediction markets should be regulated. The proposed Public Integrity in Financial Prediction Markets Act signals a willingness among some lawmakers to extend traditional oversight concepts into the crypto space, seeking to curb unfair trading practices while preserving the mechanism’s information-rich pricing signal. Regulators will weigh how to balance consumer protection with innovation, a difficult but essential task as markets continue to evolve.

For builders and researchers, the episodes underscore the importance of on-chain analytics in monitoring activity, identifying suspicious patterns, and improving risk controls without stifling innovation. The dialogue between auditors, policymakers, and platform operators will shape the design space for next-generation prediction markets, potentially driving smarter wallet onboarding, better market design, and more robust dispute resolution mechanisms.

What to watch next

• Regulatory responses to Polymarket and other prediction markets, including potential licensing requirements and enforcement actions.
• Official statements from Polymarket regarding the insider-trading allegations and steps to strengthen market integrity.
• Updates on U.S. legislative proposals, such as the Public Integrity in Financial Prediction Markets Act of 2026, and their path through congressional committees.
• Ongoing investigations into Axiom-related insider trading and any resulting policy or enforcement implications for similar platforms.
• forthcoming analyses from on-chain analytics firms and independent researchers detailing patterns in high-volume geopolitical bets.

Sources & verification

• Bloomberg reporting on six February-created Polymarket wallets and the $1 million profit, citing Bubblemaps SA data: https://www.bloomberg.com/news/articles/2026-02-28/polymarket-iran-bets-hit-529-million-as-new-wallets-draw-notice
• Polymarket event page for the Iran strike contracts: https://polymarket.com/event/us-strikes-iran-by
• U.S. Representative Ritchie Torres’ proposed anti-insider trading bill for prediction markets (coverage and references): https://cointelegraph.com/news/ritchie-torres-prediction-markets-insider-trading-bill-maduro-bet
• Related insider-trading discussions on Polymarket involving ZachXBT and Axiom: https://cointelegraph.com/news/suspected-insider-1-2m-zachxbt-axiom-expose
• Earlier Maduro bet coverage on Polymarket: https://cointelegraph.com/news/polymarket-user-who-won-400k-on-maduro-bet-quietly-disappears

TLDR:

• Strategy and Metaplanet Bitcoin Singularity captures a 6.6% annual spread to fund Bitcoin purchases at zero net cost.
  
• STRC perpetual preferreds now yield 11.5%, widening the spread gap since Livingston first outlined the trade in November 2025.
  
• Scaling the model to $100 million in raised capital generates up to $6.6 million in free Bitcoin purchases every single year.
  
• Any public company with access to low-cost capital can theoretically run this Bitcoin Treasury arbitrage playbook right now.
  

Strategy and Metaplanet Bitcoin Singularity is reshaping how public companies think about capital deployment and Bitcoin accumulation.

Crypto strategist Adam Livingston recently outlined a model where companies borrow at low rates and park capital into high-yield STRC perpetual preferreds.

The gap between both figures funds Bitcoin purchases at zero net cost. With STRC yields now near 11.5%, the trade is drawing serious attention from institutional observers watching Bitcoin Treasury companies closely.

How Strategy and Metaplanet Bitcoin Singularity Works in Practice

The mechanics behind Strategy and Metaplanet Bitcoin Singularity are built on a simple but powerful spread. A company raises capital at roughly 4.9% and deploys it into STRC perpetual preferreds yielding 11.5%.

The 6.6% difference between those two figures becomes the engine for Bitcoin accumulation. No extra capital is needed to fund the Bitcoin purchases.

Livingston broke the trade down using a clean $100 illustration. Raising $100 at 4.9% costs $4.90 per year in interest.

Deploying that same $100 into STRC returns $11.50 annually. The remaining $6.60 goes directly into Bitcoin, creating a self-funding accumulation loop.

Livingston posted on X, stating: “Scale it: $10M raised → $660k free Bitcoin per year. $100M raised → $6.6M free Bitcoin per year.” He described the structure as textbook positive-carry arbitrage, Bitcoin-Treasury edition.

Legacy capital flows in cheap, high-yielding paper flows out, and the excess funds Bitcoin at zero net cost.

The trade operates on a perpetual basis as long as the spread holds. There are no complex derivatives or leveraged instruments involved.

The structure simply captures the gap between borrowing costs and coupon income, then redirects that gap into Bitcoin every single year.

Metaplanet’s Structural Edge Within the Bitcoin Singularity Framework

Metaplanet sits at the center of this conversation for a specific reason. Japan’s ultra-low interest rate environment gives the company access to borrowing costs that most Western companies cannot match.

That structural advantage makes the spread wider and the Bitcoin accumulation rate faster compared to higher-rate markets.

Livingston was clear that Metaplanet is used as an example, not the exclusive operator of this strategy. Any sophisticated public company with access to low-cost capital could theoretically run the same playbook. The Japan dynamic simply offers one of the most favorable entry points available today.

Livingston first identified this opportunity in November 2025, when Metaplanet was raising at 4.9% and STRC was yielding around 10.5%. Since then, STRC yields have climbed to approximately 11.5%, making the spread even more attractive than when he first outlined it.

The Strategy and Metaplanet Bitcoin Singularity framework turns legacy financial infrastructure into a Bitcoin accumulation machine.

Traditional capital markets, rather than competing with Bitcoin Treasury companies, are effectively funding their growth — without realizing it.

Six Polymarket traders earned roughly $1 million after accurately betting that the United States would strike Iran before the end of February, triggering insider trading suspicions.

The six wallets were all created in February and placed nearly all of their activity on contracts predicting the timing of a potential US attack, Bloomberg reported, citing data shared by analytics firm Bubblemaps SA. In several cases, shares were purchased only hours before explosions were first reported in Tehran, with some contracts acquired for around $0.10, per the report.

The timing drew attention from onchain investigators, who said the pattern resembles behavior previously linked to suspected insider activity on prediction markets.

“In cases involving war or conflict, information can circulate within a broader circle before becoming public,” Nicolas Vaiman, chief executive of Bubblemaps, reportedly said. “Combined with the fact that Polymarket generally only requires a wallet to trade, which allows for a high level of anonymity, this can create incentives for informed participants to act early,” he added.

Cointelegraph reached out to Polymarket for comment, but had not received a response by publication

Related: Polymarket user gains $400K betting on ZachXBT investigation

Polymarket Iran strike bets draw $529 million in volume

During the recent escalation, more than $529 million flowed into strike-related contracts on Polymarket. The specific Feb. 28 contract alone attracted roughly $90 million in trading volume, making it the most popular strike date among traders. A Jan. 31 scenario followed with about $42 million.

Notably, one of the flagged accounts had previously lost money on an earlier prediction before placing a larger wager that later returned more than $170,000, suggesting that the trades do not by themselves prove wrongdoing. Washington had also publicly warned of possible military action for weeks, drawing speculators to the platform.

There have been more instances of insider-trading allegations on Polymarket. This week, a small cluster of crypto wallets earned more than $1.2 million betting on a contract tied to an onchain investigation into DeFi platform Axiom, shortly before investigator ZachXBT published claims that an Axiom employee and associates had been engaged in insider trading since early 2025.

Last month, a Polymarket account made about $400,000 from a well-timed wager on the capture of Venezuelan President Nicolás Maduro. The wallet had placed roughly $32,000 on Maduro’s removal shortly before the news became public, raising insider trading concerns.

Related: Polymarket users favor Meteora in bets over ZachXBT crypto takedown

US lawmaker moves to ban insider trading on prediction markets

As Cointelegraph reported, US Representative Ritchie Torres is preparing legislation called the Public Integrity in Financial Prediction Markets Act of 2026 to limit insider trading on prediction platforms. The proposal would bar elected officials, political appointees and executive-branch employees from trading contracts tied to government policy or political outcomes when they possess nonpublic information.