A predictable crackdown 🏛️

House Republicans are investigating prediction market giants Polymarket and Kalshi over insider trading on their platforms.

Author

Andrew Hayward
May 22, 2026

📝 What you need to know

House Republicans are now looking into prediction market platforms Kalshi and Polymarket over insider trading concerns. House Oversight Committee Chair James Comer sent letters to both companies' CEOs on Friday requesting documents about their KYC standards, suspicious trade detection, and bets tied to armed conflicts.

The probe follows a U.S. soldier being arrested for allegedly using classified military information to place bets on Polymarket, along with an investigation that flagged over 80 potential insider trading instances on the platform. Unlike similar requests from Democrats, this investigation has Republican majority backing, meaning the committee likely has enough votes to issue legally binding subpoenas.

House Republicans Open Investigation Into Kalshi, Polymarket Over Insider Trading

The chair of the powerful House Oversight Committee has requested documents from Polymarket and Kalshi regarding insider trading and war-related markets.

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