Senators question election prediction markets over insider trading risks
The short version
- Senators Elizabeth Warren and another senator are pressing Kalshi and Polymarket about election-related prediction markets.
- The senators are requesting details on efforts to prevent insider trading and market manipulation.
- Polymarket has investigated 'dozens' of election-related cases involving potential misuse of confidential information.
- The platform has hired a former FBI official to help ensure political insiders do not profit from nonpublic election data.
What we don’t know yet
- Which specific companies or individuals are under investigation by Polymarket?
- What specific measures Kalshi has in place to prevent insider trading are not detailed.
- The outcome of the senators' inquiry remains unknown.
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How coverage grew
First reported by NPR Polymarket has investigated ‘dozens’ of election-related cases
The Hill Bipartisan pair of Senators press Kalshi, Polymarket over election markets