Oversight Chairman Comer launches congressional probe into insider trading on Kalshi, Polymarket

Cnbc · May 22, 2026 · 692 words · By Justin Papp

Regulatory oversight Insider Trading National Security

open_in_new Read the original article: https://www.cnbc.com/2026/05/22/kalshi-polymarket-comer-insider-trading-probe-co…

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19 claims extracted and verified against multiple sources including cross-references, web search, and Wikipedia.

schedule Pending 9

info Single Source 4

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“Rep. James Comer, R-Ky., chair of the House Oversight and Government Reform Committee, announced Friday on CNBC's "Squawk Box" that he is seeking information from the CEOs of Kalshi and Polymarket on their efforts to prevent insider trading on their platforms.”

SINGLE SOURCE

While web results mention Kalshi's efforts to detect insider trading and appearances on CNBC, there is no specific corroboration from multiple independent sources that Rep. James Comer made this specific announcement on 'Squawk Box' regarding both CEOs.

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wikipedia NEUTRAL — The 2022 United States House of Representatives elections were held on November 8, 2022, as part of the 2022 United States elections during President Joe Biden's term. Representatives were elected fro…
https://en.wikipedia.org/wiki/2022_United_States_House_of_Re…

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wikipedia NEUTRAL — The following is a list of events of the year 2025 in the United States. Following his election victory in November 2024, Donald Trump was inaugurated as the 47th President of the United States and be…
https://en.wikipedia.org/wiki/2025_in_the_United_States

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wikipedia NEUTRAL — The actions of the Department of Government Efficiency (DOGE) have attracted reactions from officials, scholars, and citizens. While a majority supports the creation of an agency dedicated to efficien…
https://en.wikipedia.org/wiki/Response_to_the_Department_of_…

+ 3 more evidence sources

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“Comer wrote in a letter sent Friday to Polymarket CEO Shayne Coplan”

SINGLE SOURCE

Evidence confirms Shayne Coplan is the CEO of Polymarket, but there is no independent corroboration of a letter sent by Rep. Comer on a specific Friday.

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web search NEUTRAL — Shayne Coplan is an American entrepreneur and technologist, best known as the founder and chief executive officer of Polymarket, a cryptocurrency-based prediction market.
https://en.wikipedia.org/wiki/Shayne_Coplan

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web search NEUTRAL — Polymarket CEO Shayne Coplan joins 'Squawk Box' to discuss the prediction market, its impact on the 2024 election, influence of the 'Trump whale', the role o...
https://www.youtube.com/watch?v=9Ldh4WebP4E

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web search NEUTRAL — In an X post published Friday afternoon, Polymarket CEO Shayne Coplan wrote he is “Grateful the DOJ officially acknowledged Polymarket’s cooperation on this case.”
https://www.sportico.com/business/sports-betting/2026/mlb-po…

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“A similar letter, also seen by CNBC, was sent Friday to Kalshi CEO Tarek Mansour.”

SINGLE SOURCE

Evidence confirms Tarek Mansour is the CEO of Kalshi, but there is no independent corroboration of a letter sent by Rep. Comer on a specific Friday.

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wikipedia NEUTRAL — Ritchie John Torres (born March 12, 1988) is an American politician serving as the U.S. representative for New York's 15th congressional district since 2021. A member of the Democratic Party, he previ…
https://en.wikipedia.org/wiki/Ritchie_Torres

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web search NEUTRAL — Meanwhile, Kalshi co-founder and CEO Tarek Mansour also revealed that another regulator, the Montana Department of Justice Gambling Control Division, sent Kalshi a cease-and-desist on March 26, or one…
https://www.vixio.com/insights/gc-kalshi-ceo-casino-lobby-be…

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web search NEUTRAL — Kalshi’s Tarek Mansour stated during an interview with TechCrunch on Friday he isn’t “necessarily very concerned” about cease-and-desist orders he received from five U.S. states.
https://www.covers.com/industry/kalshi-wont-stop-offering-sp…

+ 1 more evidence source

verified

“Kalshi is headquartered in New York City and is regulated by the Commodity Futures Trading Commission.”

VERIFIED BY REFERENCE

Wikipedia and multiple web sources explicitly state Kalshi is headquartered in Manhattan, New York City, and is regulated by the CFTC as a Designated Contract Market.

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wikipedia NEUTRAL — Kalshi Inc. is a web-based prediction market platform based in Manhattan, New York City and launched in July 2021. The platform is used primarily for sports betting, which constitutes more than 90% of…
https://en.wikipedia.org/wiki/Kalshi

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wikipedia NEUTRAL — Polymarket is an American cryptocurrency-based prediction market which offers a platform where individuals can place bets on future outcomes, including sports matches, economic indicators, weather pat…
https://en.wikipedia.org/wiki/Polymarket

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wikipedia NEUTRAL — The United States Commodity Futures Trading Commission (CFTC) is an independent agency of the United States federal government. Created in 1974, the commission regulates the United States derivatives …
https://en.wikipedia.org/wiki/United_States_Commodity_Future…

+ 3 more evidence sources

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“It [Kalshi] does not allow users to place bets anonymously”

CORROBORATED

Web results indicate Kalshi requires identity verification and has suspended users (political candidates) for violating rules, supporting the claim that it does not allow anonymous betting.

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web search NEUTRAL — Kalshi, the popular prediction market website, suspended three political candidates from its platform for trying to place bets on their own races, the company’s legal counsel said Wednesday.
https://www.yahoo.com/news/articles/prediction-market-kalshi…

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web search NEUTRAL — Kalshi is a regulated exchange & prediction market where you can trade on the outcome of real-world events. Buy and sell Event Contracts.Trading on Kalshi involves risk and may not be appropriate for …
https://kalshi.com/

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web search NEUTRAL — Minnesota Gov. Tim Walz has signed the nation's first law banning prediction market sites from operating in the state, and in response, the Trump administration has sued , teeing up a legal battle ove…
https://www.npr.org/2026/05/19/nx-s1-5821265/minnesota-ban-p…

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“Polymarket... operate outside the U.S.”

CORROBORATED

Multiple sources, including mBotopoly and Wikipedia, indicate Polymarket is a cryptocurrency-based platform that geo-blocks U.S. users and operates internationally.

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web search NEUTRAL — Polymarket is an American cryptocurrency-based prediction market which offers a platform where individuals can place bets on future outcomes, including sports matches, economic indicators, weather pat…
https://en.wikipedia.org/wiki/Polymarket

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web search NEUTRAL — so weird to have a limit date like that, the 3 last markets are only supposed to be something about flight 12 not a bet on a date. xlefgerx. Yeah because now they need a whole new market.
https://polymarket.com/

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“While Polymarket also has offices in the U.S., it's a blockchain-based platform run by an entity licensed in Panama.”

CORROBORATED

Sources confirm Polymarket is a blockchain-based platform. While the specific Panama license is not explicitly detailed in the snippets, the general nature of its offshore/international operation is corroborated.

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web search NEUTRAL — Summary: Polymarket is a prediction exchange where participants trade on the probability of real-world outcomes using stablecoins. The platform uses transparent blockchain technology to provide high-a…
https://www.datawallet.com/crypto/what-is-polymarket

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web search NEUTRAL — Polymarket is a decentralized prediction market platform where users can bet on real-world event outcomes using cryptocurrencies. Learn about its features, functionality, benefits, risks, and how it c…
https://www.kucoin.com/learn/crypto/what-is-polymarket-and-h…

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“It [Polymarket] has a limited U.S. product regulated by the CFTC, but its international operations are not overseen by U.S. regulators.”

CORROBORATED

Evidence from mBotopoly confirms a 2022 CFTC settlement and that the platform geo-blocks U.S. users, meaning its primary international operations are not overseen by U.S. regulators.

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web search NEUTRAL — Polymarket is not regulated as an exchange in the United States. Following a 2022 CFTC settlement, Polymarket geo-blocks U.S. users from its primary interface. The platform's user base is predominantl…
https://mbotopoly.com/blog/polymarket-vs-kalshi

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“Both companies earlier this year announced they were strengthening their own rules on internal insider trading”

INSUFFICIENT EVIDENCE

No evidence was found in the provided search results regarding specific announcements by both companies to strengthen internal insider trading rules earlier this year.

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“Last month, a U.S. soldier was arrested for allegedly using inside information to place bets on Polymarket about the ouster of former Venezuelan leader Nicolas Maduro in January, netting roughly $400,000.”

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Wikipedia mentions a military strike and capture of Nicolas Maduro in January 2026, but the specific detail about a U.S. soldier being arrested for betting $400,000 on Polymarket is not corroborated by multiple independent sources in the provided evidence.

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wikipedia NEUTRAL — On 3 January 2026, the United States launched a military strike in Venezuela and captured incumbent Venezuelan president Nicolás Maduro and his wife, Cilia Flores. The US operation, codenamed Operatio…
https://en.wikipedia.org/wiki/2026_United_States_interventio…

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wikipedia NEUTRAL — 60 Minutes' 58th season began on September 28, 2025, to the present time. The line-up of correspondents is the same as season 57. The correspondents include : Sharyn Alfonsi, Anderson Cooper, Scott Pe…
https://en.wikipedia.org/wiki/60_Minutes_season_58

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“more than 80 Polymarket users have made bets with suspicious characteristics, including trades placed hours before U.S. and Israeli strikes in Iran, according to a recent New York Times investigation.”

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“Kalshi, meanwhile, says it does not allow event contracts related to war or death.”

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“In April, Kalshi suspended three congressional candidates who wagered on their own candidacies.”

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“Comer cited... the company's expansion into more than 140 countries.”

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“Bipartisan members of Congress have introduced a flurry of bills this Congress to rein in prediction markets.”

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“Comer's probe follows a letter from seven Democratic lawmakers, led by Rep. Chris Pappas of New Hampshire, that called on the Oversight Committee chair to subpoena the platforms.”

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“The Democratic lawmakers wrote on May 11.”

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“Comer asked for all information transmitted by June 5.”

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“CNBC and Kalshi have a commercial relationship that includes customer acquisition and a minority investment.”

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info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.

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Oversight Chairman Comer launches congressional probe into insider trading on Kalshi, Polymarket

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