Congress hits Polymarket and Kalshi with a massive insider trading probe
The post Congress hits Polymarket and Kalshi with a massive insider trading probe appeared on BitcoinEthereumNews.com. The U.S. House Oversight Committee plans a probe into the largest prediction market platforms over suspicions that government employees could be exploiting classified information for personal gain. Rep. James Comer, R-Ky., chair of the House Oversight and Government Reform Committee, is seeding the internal records from the CEOs of Polymarket and Kalshi to determine if government employees are using insider knowledge to profit from policy and geopolitical and military operations, he said on CNBC’s Squawk Box on Friday. “There’s a concern now that members of Congress, members of the president’s administration, any type of government employee, can use basic insider knowledge and make huge profits on anything government-related,” Comer told CNBC. “So we want to not only launch an investigation to see how widespread this has been thus far, but also to prove a case that we’