House Oversight Committee recommends restricting or banning government officials’ prediction market trading

Cointime update: The U.S. House Committee on Oversight and Government Reform released a memo on its investigation into insider trading in prediction markets, recommending Congress legislate to restrict federal officials, members of Congress and their staff from participating in prediction markets, including a full ban or limits on government-related contracts. The committee said it obtained nearly 1,700 pages of documents and briefed five platforms; most insider trading cases were discovered and reported by the platforms themselves, with Polymarket and Kalshi continuing to improve monitoring.