Congressman Demands Investigation into CNN–Kalshi Agreement

A new partnership between a major US news outlet and a regulated prediction market has caught the eye of Capitol Hill, with an Arizona lawmaker warning that the deal could cross ethical boundaries and put the country at risk.

Hamadeh Warns CNN–Kalshi Tie-Up Could Threaten Market Fairness

Rep. Abe Hamadeh has asked the Commodity Futures Trading Commission to look into the announced team-up between CNN and Kalshi. In a letter to the agency’s acting chair, Hamadeh argued that the agreement brings up big questions about conflicts of interest, fair markets, and possible threats to national security.

The congressman says voters worry about a big news company getting mixed up with a platform for betting on real events. He thinks this link might give the news outlet too much power to shape public views on markets that profit from more attention or changing opinions.

Hamadeh points out that Kalshi’s bets often involve touchy subjects like elections, wars, and global policy shifts. He believes a newsroom covering these topics while also pushing or including prediction market data creates a conflict that other major media have not experienced before. He argues this setup could be misused by political groups or even foreign players trying to tip the scales for financial or strategic reasons.

Hamadeh Cites Commodity Exchange Act in CNN–Kalshi Probe Call

The congressman highlighted parts of the Commodity Exchange Act that tell regulators to stop contracts about war or ones seen as bad for the public. He asked the commission to think about whether the partnership, as a whole, could make some markets easier to manipulate or affect the events being traded.

News stories mentioned by Hamadeh showed concerning examples of past Kalshi contracts linked to humanitarian crises in the Middle East, which he found very worrying. He said that allowing people to bet on such outcomes shows that closer regulatory checks are needed, especially when a global news platform comes into play.

In a letter to Caroline Pham, the acting chair of the Commodity Futures Trading Commission, Hamadeh asked about the agency’s steps to evaluate the agreement. He wanted to know if regulators are looking into editorial influence, information gaps, and how this might affect democratic processes and economic stability.

The congressman gave a 30-day deadline for a response detailing the commission’s findings and any actions they might take. As prediction markets get more attention through media partnerships, this review could help set limits on how far these team-ups can go without breaking rules or crossing ethical lines.