U.S. Senators John Curtis and Adam Schiff asked CFTC Chairman Michael S. Selig to answer whether the agency is investigating Polymarket over alleged deceptive marketing tied to fake trades, simulated websites and undisclosed paid influencer content. Curtis and Schiff wrote that creators portraying prediction markets as “free money” undercut the argument that event contracts should be treated as ordinary financial products. They also warned that the CFTC may not be equipped to serve as a federal gambling regulator.