Kalshi and Polymarket push safeguards as Congress weighs prediction markets

Kalshi and Polymarket are lobbying Washington amid renewed congressional scrutiny of prediction markets, arguing they ban insider trading and operate under U.S. law as regulators weigh tighter rules on bets tied to wars and government actions; Kalshi dominates the U.S. market and has rolled out guardrails after past controversial bets, while Polymarket expands its D.C. presence. Eight bills this year seek to curb insider trading or ban war-related contracts, but broad reform this session seems unlikely.