Luke Garrett

NPR's Luke Garrett reports.

Prediction markets host billions of dollars worth of bets on sports, politics, and in some cases, war.

In April, the DOJ charged a U.S.

soldier for making $400,000 using classified information to bet on the capture of Nicolas Maduro.

House Oversight Committee Chair James Comer tells CNBC this case and other reports of insider trading prompted the probe.

Kalshi and Polymarket have two weeks to turn over their documents on insider trading.

The Commodity Futures Trading Commission regulates prediction markets and does prohibit insider trading.

But there's growing concern that current laws haven't kept up with these new financial exchanges.

Luke Garrett, NPR News, Washington.

Oversight Committee Chairman James Comer says he's requesting data from prediction markets.

Those are exchanges that host bets on future events.

Here's Comer, a Kentucky Republican, on Fox Business.

The probe comes after Representative Chris Pappas, a Democrat from New Hampshire, called on Comer to investigate suspicious bets on military actions and political outcomes.

Billions of dollars are wagered each week on prediction markets, like Polymarket and Kalshi, where users can bet and win money on everything from sports, culture, to even elections.

Comer did not specify which prediction markets are being investigated.

Luke Garrett, NPR News, Washington.

Oversight Committee Chairman James Comer says he's requesting data from prediction markets.

Those are exchanges that host bets on future events.

Here's Comer, a Kentucky Republican, on Fox Business.

The probe comes after Representative Chris Pappas, a Democrat from New Hampshire, called on Comer to investigate suspicious bets on military actions and political outcomes.