U.S. Senators Accuse X of Favoring Polymarket, Questioning Whether It Provides an Unfair Competitive Advanta

Democratic senators Catherine Cortez Masto, Jacky Rosen, Adam Schiff, and Richard Blumenthal have accused Elon Musk's social media platform X of giving prediction market Polymarket preferential treatment, alleging in a letter first reported by Semafor that users cannot report Polymarket ads through X's standard interface while ads from rival Kalshi face no such restriction. The senators argue the apparent special treatment raises questions about whether X is seeking to grant Polymarket an unfair competitive advantage to benefit the US president and his family, noting that Donald Trump Jr. has invested in Polymarket and serves as an advisor to the platform. The letter, dated November 2 and accompanied by screenshots, escalates regulatory and political scrutiny of the intersection between social media distribution, prediction markets, and the Trump family's crypto ties. Watch for X's response to the allegations, whether the platform changes its ad-reporting policies, and any follow-up action from Senate Democrats or regulators.