According to Cointelegraph, nine Democratic members of the U.S. House of Representatives have called on the Federal Trade Commission (FTC) to investigate whether prediction market advertising is consistent with its statements to regulators. Representatives Kevin Mullin and Gabe Vasquez pointed out that prediction market platforms describe themselves as financial instruments to regulators but advertise them as gambling platforms to the public, potentially misleading consumers. The lawmakers have requested the FTC respond by June 29th regarding any plans for investigation or enforcement action. Prediction markets have recently come under scrutiny due to insider trading allegations, with Congress already investigating Polymarket and Kalshi.