PANews reported on June 4th, citing Cointelegraph, that nine Democratic members of the U.S. House of Representatives have called on the Federal Trade Commission (FTC) to investigate prediction markets and examine whether their advertising and statements to regulators are consistent. Representatives Kevin Mullin and Gabe Vasquez stated that prediction market platforms claim to regulators that they are financial instruments offering investment products, yet advertise themselves to the public as gambling platforms, a contradictory message that could mislead consumers. The lawmakers demanded that the FTC provide a detailed response by June 29th regarding whether it plans to investigate or take enforcement action against prediction markets. Prediction markets have recently come under scrutiny due to insider trading issues; Congress launched investigations into Polymarket and Kalshi in May.