U.S. House Committee on Oversight and Accountability Memorandum Recommends Considering Restrictions on Officials Participating in Prediction Markets

on November 14, according to Decrypt, the U.S. House Oversight Committee released a staff memo recommending that Congress consider imposing further restrictions on federal personnel's participation in prediction markets, including a full trading ban or limits on specific contracts related to government affairs.

The investigation examines risks involving government officials, military personnel, and security-cleared individuals using non-public information for trading, having collected nearly 1,700 pages of documents and received five bipartisan staff briefings from prediction market platforms. The memo notes that existing insider trading laws already apply to prediction markets, and commends platforms such as Polymarket and Kalshi for their monitoring of suspicious transactions.