TechFlow News, May 22: According to CNBC, James Comer, Chairman of the U.S. House Committee on Oversight and Government Reform, has launched an investigation into prediction market platforms Kalshi and Polymarket. He has requested that both companies detail their measures to prevent insider trading—including identity verification, enforcement of geographic restrictions, and mechanisms for detecting anomalous trading activity.
Comer stated that internal platform records are critical for identifying improper traders and assessing whether the platforms have fulfilled their legal obligations. Previously, Polymarket was reported to have hosted suspicious trades related to U.S. actions toward Iran and Venezuela; Kalshi had also suspended the accounts of three congressional candidates who placed bets on their own election outcomes. Comer has directed both companies to submit the relevant documents by June 5.
