James Comer, Chairman of the House Oversight and Government Reform Committee, says the committee will be investigating potential insider trading on prediction market platforms Kalshi and Polymarket.
In an interview with CNBC’s Squawk Box on Friday, Comer said that the committee was seeking information from both companies about how they monitor suspicious trading activity and prevent the misuse of nonpublic information.
“There’s a concern now that members of Congress, members of the president’s administration, any type of government employee, can use basic insider knowledge and make huge profits on anything government-related,” he said.
According to Comer, letters have been sent to Kalshi and Polymarket to request documents used for identity verification procedures, geographic restrictions, and details of systems used to detect unusual trades.
