US House Oversight Committee Recommends Restricting or Banning Government Personnel From Trading Prediction Markets

Nov. 14: According to an announcement from the U.S. House Committee on Oversight and Government Reform, the committee has released a memorandum on its investigation into insider trading in prediction markets, recommending that Congress legislate to restrict federal government personnel, members of Congress and their staff from participating in prediction markets, with options including a complete ban on trading or restrictions on trading government-related contracts. The committee said it has obtained nearly 1,700 pages of documents and has received briefings from five platforms; most insider trading incidents were discovered and reported by the platforms themselves, and Polymarket and Kalshi are continuously improving their surveillance mechanisms.