US House panel chair urges curbs on prediction markets for government officials

James Comer, chairman of the U.S. House Committee on Oversight and Government Reform, has called for new regulations to restrict government officials’ use of prediction markets as part of an investigation into insider trading risks, The Block reported. The proposed measures could include a full ban on trading on such platforms. Comer stressed Congress should consider additional reforms to prevent public corruption and restore Americans’ trust in government. He recently launched the probe by asking Polymarket and Kalshi to submit materials related to user identity verification, enforcement of geographic restrictions and unusual-trading detection.