Senators Adam Schiff and John Curtis sent a letter to CFTC Chair Michael Selig Thursday asking whether the agency is investigating Polymarket's paid influencer scheme, putting the regulator in a bind over a platform it licenses but whose staged trades ran on an offshore site beyond its direct reach.

A bipartisan pair of senators pressed regulators to scrutinize the prediction market’s deceptive marketing. An investigation has already been underway.

Senators Curtis and Schiff urge the CFTC to investigate Polymarket after a WSJ report exposed 118 influencer ads promoting fabricated trading wins of nearly