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Chris Pappas asks House committee to investigate prediction-market trades

Regulation

Representative Chris Pappas asked House Oversight Committee chairman James Comer to investigate suspected insider trading on prediction markets, according to the letter described in the report. Pappas cited trades connected to US and Israeli military operations against Iran and requested subpoenas for operators’ internal records; he asked Comer to respond by May 22.

A committee inquiry could seek operator records to identify traders and examine potential misuse of non-public information.

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Regulation

NFL urges prediction markets to restrict manipulable event trades

The NFL urged prediction-market platforms, including Kalshi and Polymarket, to stop offering trades on events that could be manipulated or known in advance, according to an official letter. The league raised concerns about officiating, injuries, draft outcomes, broadcaster mentions and celebrity attendance. Polymarket said it would work with sports leagues on integrity safeguards.

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