I guess this would be fine if there was no such thing as anonymous betting, right? Some public official weaseling his way onto a bet he has insider knowledge on is fine, as long as everyone knows that he's doing that. Or am I wrong?

Edit: then again, in EU banks regularly force you to fill out a questionnaire where you declare whether or not you're affiliated or closely related to any public officials for precisely corruption prevention (or detection) purposes. Why are people not forced to do that on these platforms?