Comer wants officials banned from betting on prediction markets

Comer floats an outright ban or limits on officials’ prediction-market bets.

The hit

House Oversight Committee chair James Comer wants federal employees, lawmakers & congressional staff restricted or banned from betting on prediction markets like Kalshi & Polymarket. The committee released its findings on Friday, saying the restrictions should apply to officials in all branches of government.

Why it matters

The Block reports concerns in Washington have intensified over the past year. The committee’s memo says an outright ban, or limits on a subset of contracts such as government-related ones, would strengthen ethical expectations that officials should not personally & financially benefit from non-public information tied to their work.

The record

Investigation scope	Insider trading risks among government officials, military personnel & security-clearance holders
Documents reviewed	1,700 pages, plus 5 bipartisan staff briefings
Alleged trigger case	Active-duty US Army soldier allegedly used confidential information to bet on Polymarket ahead of Nicolás Maduro’s capture
Other alleged case	White House’s former teleprompter operator allegedly used inside information on prediction-market bets
Senate action	In April, the Senate voted to pass a resolution banning members from trading on prediction markets

What happens next

Kalshi & Polymarket say they have already tightened controls to prevent officials using inside information. Watch for proposed legislation from the House Oversight Committee.

Sources: House Oversight Chair calls for possible ban on government officials’ prediction market bets over insider trading concer

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