US Senators Question Kalshi, Polymarket Over Election Market Safeguards
Edited by Steinar Vigdel Kolnes, Editor, Oslo
Sens. Elizabeth Warren and John Curtis want details on how prediction platforms prevent insider activity and market manipulation.
U.S. Sens. Elizabeth Warren and John Curtis have asked Kalshi and Polymarket to explain the safeguards they use to prevent insiders from trading on election-related markets.
In a bipartisan letter, the senators gave the two prediction-market companies until Nov. 3, Election Day, to respond to seven questions about their policies and controls.
The lawmakers pointed to cases in which political candidates allegedly placed bets on their own races, raising concerns about access to nonpublic information and conflicts of interest.
The letter also referenced suspected wash trading involving election contracts on Polymarket, adding to questions about how the platforms detect and address potential manipulation.
Source: Bitcoin.com News
