US Top News and Analysis | Oversight Chairman Comer launches congressional probe into insider trading on Kalshi, Polymarket
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House Oversight and Government Reform Committee Chairman James Comer announced a congressional investigation into potential insider‑trading activity on prediction‑market platforms Kalshi and Polymarket. Citing trades that appeared to exploit inside information on elections, U.S. military actions, and other political events, Comer has requested documents from both companies on how they verify user identities, enforce geographic restrictions, and detect anomalous trading. The probe follows recent high‑profile cases—including a U.S. soldier allegedly profiting from a bet on Venezuelan politics and dozens of users placing suspicious wagers ahead of strikes in Iran—prompting bipartisan calls for legislation to bar members of Congress, government employees, and presidential administration officials from participating in such markets. Kalshi, regulated by the CFTC, says it does not allow bets on war or death, while Polymarket, a blockchain‑based platform licensed in Panama, operates under limited U.S. regulation. Both firms have said they are tightening internal rules after the suspicious trades were revealed.
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https://www.cnbc.com/2026/05/22/kalshi-polymarket-comer-insider-trading-probe-congress.html
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