House Oversight Chairman James Comer released a staff memo recommending that Congress consider new limits on prediction-market trading by federal personnel. The options range from a ban to narrower limits on contracts tied to government decisions; no new restriction was announced. The memo follows an investigation into possible trading on nonpublic information by officials, military personnel and security-clearance holders.
The memo says existing insider-trading laws already apply to prediction markets. It also credits platforms, including Polymarket and Kalshi, with detecting and reporting suspicious activity, saying platforms first flagged most reported incidents to regulators.
