The White House reportedly sent a staff-wide email warning against placing trades and bets using confidential information.

News of the warning, which was first reported by the Wall Street Journal, comes as Democratic lawmakers have raised concerns about possible insider trading, pointing to a number of profitable trades and bets placed shortly before President Donald Trump announced decisions related to the U.S. and Israeli war on Iran.

The email was reportedly sent by the White House Management Office on March 24, a day after Trump paused military strikes on Iran’s civilian infrastructure, citing “productive conversations” with Tehran. Trump’s post on Truth Social after 7 a.m. on March 23 was preceded by a flurry of trading in futures markets.

According to Bloomberg, contracts covering at least six million barrels of Brent and West Texas Intermediate crude, amounting to hundreds of millions of dollars, were sold within two minutes starting at 6:49 a.m. in New York on the day of Trump’s post. The activity was significantly higher than the average of 700,000 barrels sold during the same time period over the previous five trading days, according to Bloomberg.

The email also reportedly addresses betting on prediction markets, where people trade contracts based on the outcome of future events. Major platforms like Polymarket seen surging trading volumes in recent years, especially around high-interest events like the 2024 presidential election and Trump’s capture of Venezuelan leader Nicolás Maduro in January. The industry is relatively new compared to traditional financial markets.