Congress hits Polymarket and Kalshi with a massive insider trading probe
CoinDesk
The U.S. House Oversight Committee is investigating Polymarket and Kalshi over concerns that government employees are using insider information for profit.Summary
The U.S. House Oversight Committee, led by Rep. James Comer, has launched an investigation into major prediction market platforms Polymarket and Kalshi. The probe seeks to determine if government officials are leveraging classified information to profit from geopolitical and policy-related bets. Comer is demanding data on identity verification and trade monitoring to assess the risk of insider trading and to potentially push for legislation banning government employees from participating in these markets. This move follows growing scrutiny from lawmakers regarding national security risks and the potential for market manipulation by individuals with sensitive information.
(Source：CoinDesk)