House Oversight chair launches probe into insider trading on Kalshi and Polymarket

60-second summary

House Oversight Chairman Comer launches a probe into alleged insider trading on Kalshi and Polymarket, sending letters to both CEOs with a June 5 document deadline. The investigation targets potential manipulation of prices on these prediction markets. This probe may lead to increased regulatory scrutiny on decentralized finance, potentially impacting the growth of prediction markets and their associated cryptocurrencies.