U.S. Senator Elizabeth Warren, a Democrat, and Senator John Curtis, a Republican, have sent a letter to prediction market platforms Kalshi and Polymarket, asking both companies to explain how they plan to prevent insider trading and market manipulation tied to election wagering ahead of next week’s midterm elections. The senators also asked the firms to disclose how many suspected violations were stopped before trades took place and how many were identified after the fact. They set a Nov. 3 deadline for a written response. In the letter, Warren and Curtis said they still question whether the two platforms can adequately oversee these event contracts through effective review procedures and meaningful accountability measures.
U.S. Senator Elizabeth Warren and Senator John Curtis have sent a letter to prediction market platforms Kalshi and Polymarket, asking the two companies to explain how they will prevent insider trading and market manipulation in election-related betting ahead of next week’s midterm elections.
The senators also asked both firms to provide figures on suspected violations, including how many cases were blocked before trades occurred and how many were detected afterward.
Kalshi and Polymarket were asked to submit written responses by Nov. 3. Warren and Curtis said they still doubt whether the two companies can adequately supervise these event contracts through effective screening and real accountability.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
