US House Oversight Committee Opens Insider-Trading Probe Into Kalshi, Polymarket

The US House Oversight Committee has opened an investigation into allegations of insider trading in prediction markets.

UBlockchain, citing CNBC on May 22, reported that Representative James Comer, chairman of the House Oversight Committee, is investigating whether government insiders used nonpublic information to profit from prediction markets tied to elections and geopolitical events.

Comer asked Kalshi and Polymarket to submit related materials by June 5. The request includes user identity-verification procedures, regional restriction policies and systems for detecting suspicious trades.

He also raised the possibility that government officials could use undisclosed policy and diplomatic information to profit from trades on prediction markets.