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U.S. House Oversight Committee Investigates Insider Trading Issues on Kalshi and Polymarket Platforms
Deep Tide TechFlow News, May 22 — According to CNBC, James Comer, Chairman of the House Oversight and Government Reform Committee, has launched an investigation into prediction market platforms Kalshi and Polymarket, requesting both companies to explain their measures to prevent insider trading, including identity verification, enforcement of geographic restrictions, and mechanisms for monitoring abnormal trading activities.
Comer stated that internal records of the 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 transactions related to events involving the United States, Iran, and Venezuela; Kalshi also temporarily suspended three congressional candidate accounts who bet on their own election results on the platform. Comer has asked both companies to submit relevant documents by June 5.