Campaign staffers keep trying to bet on races despite push to curb insider trading
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As prediction markets have exploded in popularity over the last two years, the industry's federal regulator, the Commodity Futures Trading Commission (CFTC), has done little to police these new financial markets, largely leaving that work to the companies themselves. Trump-appointed CFTC Chairman Michael Selig has even defended prediction markets against dozens of lawsuits from states.

The lack of regulation and the unsettled law surrounding prediction markets have raised serious concerns on Capitol Hill.

At least 21 prediction market bills have been introduced in Congress this year. None has advanced through the House or the Senate.

Until then, Kalshi's top enforcement officer said, the company will keep enforcing rules itself.

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