[Polymarket Bank Failure Contracts Spark Concerns from FDIC and Congress] According to Bloomberg, sources familiar with the matter revealed that contracts on the prediction market platform Polymarket betting on the failure of institutions such as Wells Fargo, JPMorgan Chase, and Bank of America have raised concerns among FDIC officials and members of Congress. Some worry that the expansion of such contracts could potentially fuel real-world bank runs. After internal discussions, the FDIC concluded that existing ethical guidelines are sufficient to prohibit insider participation in trading. Currently, the trading volume of these contracts remains small, with recent bets on banks failing before the end of the year amounting to approximately $76,000.