Rep. James Comer (R-KY), chairman of the House Oversight Committee, announced he is launching an investigation into possible “insider trading” on the popular prediction market platforms Polymarket and Kalshi.
Republican Rep. James Comer, the chair of the House Oversight Committee, launched an investigation into possible insider trading on Kalshi and Polymarket.https://t.co/fBcdmm4Rga
— NOTUS (@NOTUSreports) May 22, 2026
Via NOTUS:
Republican Rep. James Comer of Kentucky sent letters to each of the companies’ CEOs on Friday requesting documents and information about how they verify the identity of users and flag suspicious activity, such as a trade being made hours before major government actions.
“It’s the Wild West,” Comer told CNBC of the prediction markets on Friday. “There are no rules. You and I may think we know what’s ethical and what’s not, but there’s no written law against it. This is so new and it’s never been a problem until a few months ago.”
“There’s a concern now,” Comer said, “that members of Congress, members of the president’s administration, any type of government employee could use basic insider knowledge and make huge profits on anything government-related.”
“It’s the wild west,” says @RepJamesComer of prediction markets. “We’ve got to pass some kind of regulation.”https://t.co/fYUnBouZxZ
— Squawk Box (@SquawkCNBC) May 22, 2026
As you may know, Trump’s son, Don Jr., is an investor in both Polymarket and Kalshi.
In his letter, Comer referenced special forces soldier Gannon Ken Van Dyke, who took part in the raid that captured Venezuelan President Nicolás Maduro.
According to reports, Van Dyke was involved in the planning of those raids as early as December 8, 2025. He is now facing charges over 13 bets he made on Polymarket in the week before the raid that Maduro would be captured by January 31. He scored more than $400K for his “prediction” bets.
DOJ releases more information about the U.S. soldier who won more than $400,000 by betting on Maduro’s removal.
Gannon Ken van Dyke could face up to 60 years in prison on all charges. Prosecutors are also seizing the money he won. pic.twitter.com/AKSC49fPTA
— BNO News (@BNONews) April 23, 2026
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