Representative James Comer asked CEOs of two major prediction market companies for information on their responses to insider trading after “suspiciously timed trades” related to US military actions against Iran.
Update (May 22 at 7:40 pm UTC): This article has been updated to include statements from Polymarket and Kalshi.
The chair of the US House of Representatives’ Oversight and Government Reform Committee sent letters to the CEOs of Kalshi and Polymarket, questioning the companies’ response to incidents of insider trading on the platform.
In a Friday X post, Committee Chair James Comer confirmed reports that he had sent letters to Polymarket CEO Shayne Coplan and Kalshi CEO Tarek Mansour, asking them for internal records on how the companies were handling insider trading. The Kentucky lawmaker said there were concerns in Congress over elected officials using “basic insider knowledge” to profit off the government’s actions.
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