Elizabeth Warren plans to increase scrutiny of prediction markets when she takes over the Senate Banking Committee in January, a portfolio that also covers cryptocurrencies. She intends to use the committee’s investigative powers to examine election betting platforms, insider trading and platform manipulation. In October, she asked Kalshi and Polymarket how they prevent candidates, campaign staff and people with material nonpublic information from trading on election-related contracts. Warren and John Curtis cited cases of candidates betting on their own races, as well as allegations of wash trading and volume manipulation involving Polymarket. Her broader agenda also includes housing affordability, credit card interest-rate caps, artificial intelligence chip export controls and scrutiny of activities linked to the Trump family.
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