The Supreme Court is weighing petitions involving prediction markets as the House Oversight Committee expands an insider-trading inquiry and the CFTC reportedly reviews promotional programs, putting operators under pressure from three separate federal fronts.

The developments, reported by Gambling Insider on September 30, 2026, are unfolding alongside stronger opposition from casino, Tribal gaming and labor representatives. They are not one coordinated enforcement action: the court has not agreed to hear the cases, the committee is seeking information, and the CFTC review could lead to examinations or enforcement.

Three separate federal tracks

The New Jersey Division of Gaming Enforcement petitioned the Supreme Court after the Third Circuit ruled in Kalshi’s favor. Robinhood and Crypto.com also filed petitions after the Ninth Circuit rejected their preemption arguments in Nevada in August. The court had not agreed to hear any of the cases as it considered petitions ahead of its 2026–27 term.

In Congress, House Oversight Chair James Comer sent letters on Tuesday, September 29, to Hyperliquid, Crypto.com and Aristotle Exchange/PredictIt. The committee wants details on identity verification and controls intended to detect and prevent trading based on nonpublic information.

The committee began investigating Kalshi and Polymarket in May. CNBC reported that it had since received nearly 1,000 documents and taken part in five briefings. Its latest requests extend the inquiry to additional platforms, but do not themselves establish that insider trading occurred.

The CFTC’s reported review focuses on promotional programs for traders and market makers. The agency warned exchanges in August that incentives remain subject to Commodity Exchange Act requirements, including market-integrity and fair-access rules; it pointed to marketing around “risk-free” trades, unlimited rebates and guaranteed profits as potentially problematic. The CFTC’s proposed prediction-market framework refle...