House Oversight Demands Kalshi and Polymarket Records Amid Insider Trading Inquiry

House Oversight Committee Chair Rep. James Comer has opened a probe into alleged insider trading at prediction-market platforms Kalshi and Polymarket and has sought information from both firms on their efforts to prevent insider trading on their platforms ^{[1] [2]}.

According to reporting, Comer requested details on measures such as identity verification, geographic restrictions, and systems for detecting suspicious trades, citing concerns that government insiders could profit from non‑public information; he set a deadline for responses of June 5 in the letters to the platforms ^{[3] [4]}.

Industry coverage notes that the committee’s inquiry could increase scrutiny of prediction markets and potentially lead to stricter regulatory oversight, which may affect how these platforms operate and their user bases ^[4].

The committee has asked Kalshi and Polymarket to produce documents and explanations to support their compliance measures; further developments will depend on the companies’ responses and the committee’s review ^{[1] [2]}.