The U.S. House Oversight Committee is investigating insider trading issues related to the Kalshi and Polymarket platforms

According to CNBC, James Comer, the chairman of the House Oversight and Government Reform Committee, has launched an investigation into the prediction market platforms Kalshi and Polymarket, requesting both companies to explain their measures to prevent insider trading, including identity verification, geographic restriction enforcement, and abnormal trading monitoring mechanisms. Comer stated that internal records of the relevant platforms are key evidence for identifying improper traders and determining whether the platforms are fulfilling their legal obligations.

Previously, Polymarket was reported to have suspicious trades related to U.S. events concerning Iran and Venezuela; Kalshi had also suspended the accounts of three congressional candidates who were betting on their own election outcomes on the platform. Comer has requested both companies to submit relevant documents by June 5.