U.S. Senators John Curtis and Adam Schiff sent a letter to CFTC Chairman Michael Selig, requesting an investigation into Polymarket over allegations that it paid social media creators to produce videos featuring fake bets and fabricated profit claims, while also questioning the CFTC's ability to regulate prediction markets. The Wall Street Journal previously reported that approximately 70% of the 1,105 promotional videos reviewed involved betting content, but the related wagers totaling about $1.9 million were all fabricated. The two senators also asked the CFTC to clarify whether it is currently investigating Polymarket and called for measures to prevent prediction market platforms from circumventing state and tribal gaming regulations through the CFTC’s regulatory framework. (The Block)