US House lawmakers launch probe into Kalshi, Polymarket insider trading
60-second summary
US House lawmakers launch a probe into Kalshi and Polymarket, two major prediction market companies, following suspiciously timed trades related to US military actions against Iran. Representative James Comer has requested information from the CEOs, focusing on their responses to insider trading. The investigation aims to uncover potential market manipulation and ensure regulatory compliance in the prediction market space.
Representative James Comer asked CEOs of two major prediction market companies for information on their responses to insider trading after “suspiciously timed trades” related to US military actions against Iran.