Congress Launches Major Insider Trading Investigation into Polymarket and Kalshi

The United States Congress has initiated a sweeping investigation into potential insider trading activities involving prediction market platforms Polymarket and Kalshi. The probe, described as massive in scope, targets allegations that individuals with non-public information may have used these platforms to profit illegally. This development marks a significant escalation in regulatory scrutiny of prediction markets, which have grown in popularity for betting on political events, financial outcomes, and other real-world occurrences. Both Polymarket and Kalshi are now under the microscope as lawmakers seek to determine the extent of any misconduct and the adequacy of existing oversight mechanisms.