House Oversight Committee investigates prediction markets
The House Oversight Committee has opened an investigation into Polymarket and Kalshi, two major prediction markets, over concerns that government employees may be using insider information to profit from policy and national security events.
The committee is seeking internal records from the platforms’ CEOs to determine if government employees are using classified information for personal gain.
The probe comes amid rapid growth in prediction markets and mounting bipartisan scrutiny in Congress, with lawmakers warning of national security risks and potential insider trading.