News Summary

• A confrontation is brewing in Washington over prediction markets.
• In a highly polarized Congress, the need to guard against insider trading has become rare common ground.
• Members of both parties pressed the leader of a typically low-profile regulatory agency on the issue.
• The markets, which include Polymarket and its chief rival Kalshi, have been criticized for everything from undermining the integrity of sports to contributing to an online betting addiction crisis among young men.
• The market debate is also drawing in the White House, potential presidential candidates and state leaders.