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House Oversight seeks Kalshi and Polymarket records in prediction-market inquiry

Regulation

The House Committee on Oversight and Government Reform requested internal records from Kalshi and Polymarket as it investigates trading based on non-public information. Chairman James Comer said the inquiry will examine identity checks, geographic restrictions and detection of suspicious trading; the committee is also assessing safeguards against insider trading.

The inquiry puts prediction-market verification and monitoring practices under congressional scrutiny.

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Regulation

CFTC orders exchanges to end US geofencing within 30 days

The Commodity Futures Trading Commission ordered designated contract markets to end US geofencing that conflicts with impartial-access requirements within 30 days, or explain why they cannot comply. The order puts exchanges offering sports-event contracts at odds with court orders restricting Kalshi in several states and on tribal lands. Chairman Michael S. Selig said derivatives markets must operate nationally.

Within 30 days, designated contract markets must end geofencing restrictions in the U.S. that violate “impartial access requirements,” or give reasons they cannot comply, the CFTC has ordered. CFTC Chairman Michael S. Selig said in a statement that derivatives markets "must operate on a uniform basis at a national scale" to serve the purposes of the Commodity Exchange Act.

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