Warren to target prediction markets’ oversight as she takes Senate Banking chair

Senator Elizabeth Warren is preparing to chair the Senate Banking Committee and plans to crack down on prediction markets, according to a banking aide who cited a "Wild West-style lack of oversight." Warren and Senator John Curtis have already pressed Kalshi and Polymarket over election trading. Traders should watch for regulatory pressure on prediction-market platforms, which could weigh on the sector's growth and on crypto-adjacent venues that offer event contracts.