The U.S. House Committee on Oversight and Government Reform has asked the chief executives of prediction-market platforms Kalshi and Polymarket to submit internal records to examine responses to insider trading.

Cointelegraph reported on May 22 that Chairman James Comer took issue with more than 80 bets whose timing he described as suspicious in connection with a U.S. military operation involving Iran.

Comer said on social media platform X, formerly known as Twitter, that he sent letters to Kalshi CEO Tarek Mansour and Polymarket CEO Shane Coplan. He said there are concerns in Congress that elected officials and government authorities are profiting by using basic internal information related to government actions.

Comer said there were more than 80 suspiciously timed trades before the Iran military operation, and claimed that politicians and government authorities with internal information are profiting from bets. He said such insider trading must stop.

The trades in question include a case reported by the New York Times on May 13. Prediction-market users were found to have bet on military action against Iran carried out by Israel and on U.S. President Donald Trump's announcement of a ceasefire in the war with Iran.

The two companies previously announced measures to address insider trading. Polymarket updated its approach to dealing with potential insider trading on the platform in March, and Kalshi said in April it barred 3 U.S. politicians from taking part for betting on its elections.