Senate Democrats Demand Hearing on Prediction Markets After Kalshi Meeting

Senate Banking Committee Democrats are pressing for a public hearing on prediction markets after Republicans met privately with Kalshi executives. The push places growing scrutiny on markets offering contracts tied to financial and economic outcomes. 

Democrats want Congress to examine how these products fit within existing securities rules. They also want lawmakers to address investor protections and regulatory boundaries.

Democrats Push for Public Review

Sens. Elizabeth Warren, Catherine Cortez Masto, Jack Reed, Mark Warner, Raphael Warnock, Ruben Gallego, and Angela Alsobrooks joined the request. Every Democrat on the committee signed the letter to Chairman Tim Scott.

Moreover, the lawmakers argued that public debate should accompany congressional oversight of prediction markets. They specifically pointed to contracts linked to company performance indicators. Such…

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