The chair of the Commodity Futures Trading Commission, Mike Selig, has pledged to investigate insider trading in prediction markets. This comes amid pressure from prediction markets like Kalshi and Polymarket to prevent insiders from profiting from their knowledge on issues such as politics, sports and war. Selig also expressed his intention to modernize the agency to keep pace with the rapid speed of technological innovation. He clashed with Rep. Jim McGovern (D-Mass), who questioned whether the White House had ever asked the CFTC to drop an investigation into Polymarket.