The House Committee on Oversight and Government Reform, chaired by James Comer, released a memorandum on November 13, 2026, recommending that officials with security clearances or access to non-public government information be barred from trading on platforms such as Polymarket and Kalshi. The investigation, opened on May 22, 2026, also examined Hyperliquid Labs, Crypto.com and Aristotle Exchange, the operator of PredictIt, after reviewing nearly 1,700 pages of documents. The committee identified suspicious activity involving military personnel and political candidates, including bets on U.S. and Israeli strikes on Iran; U.S. Army Master Sergeant Gannon Ken Van Dyke was indicted on April 24, 2026 and accused of making more than $409,000 on Polymarket through classified information, although the allegations have not yet been proven in court. The committee asked Congress to consider an outright ban or limits on contracts tied to federal personnel, while the platforms have strengthened identity-verification checks, geographic restrictions and surveillance tools.
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