Kalshi and Polymarket are facing a congressional investigation initiated by James Comer, chairman of the House Oversight and Reform Committee, on suspicion of insider trading.

Odaily Planet Daily reports that James Comer, chairman of the U.S. House Oversight and Reform Committee, has launched an investigation into prediction market platforms Kalshi and Polymarket, sending letters to the CEOs of both companies requesting internal documents regarding measures to prevent insider trading, identity verification, geographic restrictions, and monitoring of unusual transactions. Comer stated that internal records are the only way to identify accounts suspected of profiting from national security secrets, including those belonging to military personnel and those with security clearances. The investigation will focus on transactions related to election results, U.S. military actions against Iran, and Venezuela. Previously, a U.S. soldier was arrested for profiting approximately $400,000 from Polymarket using intelligence related to regime change in Venezuela, and more than 80 users were reported to have placed orders hours before the U.S.-Israeli airstrikes against Iran. (CNBC)