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US lawmakers seek inquiry into $1.2m in Polymarket bets before Iran strikes

Regulation

US lawmakers requested an investigation into possible leaks of confidential Pentagon information after six accounts reportedly made US$1.2m from Polymarket bets placed before the 28 February strikes on Iran. The report says Bubblemaps identified the accounts; it adds that neither their identities nor an actual information leak has been confirmed.

The inquiry could increase scrutiny of prediction-market trading tied to military events and access to confidential information.

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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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