Oversight Chairman Comer launches congressional probe into insider trading on Kalshi, Polymarket

Key points

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• James Comer, R-Ky., chair of the House Oversight and Government Reform Committee, announced Friday on CNBC's "Squawk Box" that he is seeking information from the CEOs of Kalshi and Polymarket on their efforts to prevent insider trading on their platforms.
• Comer's probe is the latest in a series of congressional attempts to rein-in the platforms.
• "Internal records held by prediction market platforms are the only means by which bad actors can be identified and to determine whether platforms are meeting their legal obligations," Comer wrote in a letter sent Friday to Polymarket CEO Shayne Coplan and seen by CNBC.
• A similar letter, also seen by CNBC, was sent Friday to Kalshi CEO Tarek Mansour.