Brewer questions COIB on whether prediction market cases have arisen
Brewer asks if this issue has come across COIB's desk. Carrier says complaints are confidential but he has not seen reporting about city public servants using insider information for prediction markets, though it could be happening. Brewer notes they are now on notice.
Thank you very much.
Councilmember Wilson has joined us.
Thank you.
One quick question.
Has this issue ever come up if you're able to state?
I know in some cases you can't say if you're working on any cases.
But is this something that has come across your desk at all?
I mean, there are many people who are corrupt, I got it, and they have their own issues.
But is this particular one?
We haven't, I mean, certainly as you're alluding to, complaints to the board are confidential, but certainly at least in general reporting, I haven't seen reporting about city public servants
utilizing their public information or their city positions to engage in prediction markets.
The committee report identifies...
Public officials in other areas of government who've been entangled in certain arenas.
That doesn't mean it hasn't happened here.
We just haven't seen it yet.
Okay, but now you're on notice.
Yes.
Okay.
Yes, and I think the annual disclosure piece, just to say, it's like we're very cognizant of the burdens of that reporting regime, and that's just the main concern there.
We get, as you identified, a lot of concerns about why do I need to report this, and we want to just make sure that the reporting requirements are as tailored to the situation as they possibly can be.
Thank you, Council Member, for bringing this up.
Thank you very much.
All right, you're finished for this.
Thank you.
For now.