Governance is an incredibly sound front running game. Think about this:

Whales always want to buy voting power through tokens. 
A proposal leaks. Someone accumulates governance tokens at a discount. 
By the time it’s public, they’re already positioned.

It’s the ultimate asymmetric trade. 
Knowing how a vote will go before it happens is better than any price chart.

Governance is an auction. Votes are bought, policies are influenced &  outcomes are rarely organic.

If governance is just another tradable asset, does it even work? Or is it just another way insiders extract value? You tell me.