U.S. Senators John Coplan, Elizabeth Warren probe election event contracts

With the midterm elections on Tuesday, a bipartisan pair of senators are expressing concerns to Kalshi and Polymarket executives over the potential for market manipulation on contracts tied to the election. “We write to express concerns about election related prediction markets and to request specific information about your companies’ efforts to prevent insider trading, market manipulation, and wagers based on material nonpublic information,” Sens. Elizabeth Warren, D-Mass, and John Curtis, R-Utah, wrote in a letter to Kalshi CEO Tarek Mansour and Polymarket CEO Shayne Coplan.

Source: CDC Gaming Reports