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U.S. House Launches Investigation Into Kalshi and Polymarket Over Insider Trading, Demands Compliance Documents by June 5

GateNews
Enforcement ActionsPrediction MarketRegulation & Policy
KALSHI-5.35%
According to CNBC, the U.S. House Oversight and Government Reform Committee, led by Chair James Comer, has launched an investigation into prediction market platforms Kalshi and Polymarket on May 23, 2026. The committee is requiring both companies to detail their insider trading prevention measures, including identity verification procedures, geographic restrictions, and suspicious trading detection mechanisms. Comer stated that internal platform records are essential for identifying improper traders and assessing regulatory compliance. Kalshi and Polymarket must submit requested documents by June 5. The investigation follows reports of suspicious trading on Polymarket related to U.S. events involving Iran and Venezuela, and Kalshi's earlier suspension of three congressional candidate accounts for self-dealing wagers.
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