A week before the November 3 US midterms, Polymarket's investigations team has looked into dozens of election-related bets for possible insider trading and manipulation. At least two cases have reportedly been referred to the CFTC, the platform's federal regulator.

The work is led by Shana Bautista, a former FBI official who joined Polymarket in June as head of global intelligence and investigations. Her 16-person team runs a new election surveillance system covering both the US-regulated app and the larger crypto-based Polymarket International.

The system pulls in social media, FEC filings, crypto and banking data, and generates hundreds of alerts a day.

The scrutiny comes as election markets face state lawsuits and political pushback, while the CFTC has largely left policing to the platforms themselves. Kalshi launched a similar FEC-based system in May and has blocked dozens of campaign staffers from trading.