Kalshi, Polymarket face scrutiny from Democrats after midterms

Prediction markets called the 2026 midterms correctly, and the party that won may now try to rein them in Prediction markets spent election night looking very smart. Now they may have to explain themselves to the people they just predicted would win. Democrats plan to crack down on platforms like Kalshi and Polymarket after strong gains in the 2026 US midterm elections. The companies called the outcome correctly. Their reward could be a lot more time in congressional hearing rooms. Leading Democrats, including Sen. Jeff Merkley and Rep.