[Hollywood Studios Ban Employees from Betting on Prediction Markets Using Insider Information] According to Decrypt, Hollywood studios and production companies are quietly issuing guidelines prohibiting employees from betting on prediction markets using insider information. The guidelines forbid employees from betting on events such as company financial reports, casting decisions, and release dates, and also prohibit sharing information with friends and family to place bets on their behalf. 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, has also updated its employee handbook in recent weeks, prohibiting betting on award nominations, casting decisions, production schedules, and release dates. Joshua Mitts, a law professor at Columbia University who studies prediction markets, said that many employers are now forced to consider insider trading rules from an ethical standpoint.