CNBC reported that James Comer, Chairman of the U.S. House Oversight and Accountability Committee, requested documents regarding insider trading prevention frameworks from the CEOs of prediction market platforms Kalshi and Polymarket. This move comes as the prediction market rapidly grows, leading to successive controversies over insider trading. In a letter sent to both company CEOs, Chairman Comer demanded the submission of documents related to identity verification procedures, implementation of geographic restrictions, and detection of unusual transactions by June 5 (local time). Previously, seven Democratic lawmakers urged the Oversight Committee to issue subpoenas for the two platforms, and multiple bills regulating prediction markets have been introduced in Congress.
