Slotkin, Klobuchar and Warren press prediction markets over misconduct risks
Senators Elissa Slotkin, Amy Klobuchar, and Elizabeth Warren raised concerns about prediction markets in separate inquiries spanning June 3 to June 5, 2026. Slotkin and Klobuchar cited increasing reports of potential misconduct including insider trading and market manipulation in a June 3 statement. Warren, the top Democrat on the U.S. Senate, questioned the prediction markets regulator regarding reports of bias and interference. The inquiries come as the sector faces intensified scrutiny following multiple federal enforcement actions. No specific platforms or legislative measures were named in the Slotkin-Klobuchar statement, though Warren's inquiry targeted operational integrity and potential manipulation risks.
The trio of Senate inquiries means Kalshi and Polymarket now face simultaneous document demands from Congress, DOJ-CFTC criminal charges, and state enforcement proceedings. Any inconsistency between their congressional disclosures and other regulatory filings becomes real-time evidence across parallel investigations.
Brings the running tally of federal insider-trading enforcement actions against prediction-market platforms to four separate cases in under two weeks, with congressional oversight now layering onto DOJ-CFTC parallel proceedings that already target Kalshi and Polymarket surveillance gaps.