House chairs ask Jensen Huang for a Dec. 1 interview, and Kalshi’s December testimony contract stands at 18 cents
House chairs asked Jensen Huang to sit for a Dec. 1 interview; Kalshi's contract on him testifying before December stood at 18 cents Friday.
Kalshi’s contract on whether former Nvidia chief executive Jensen Huang will testify in front of Congress before December last traded at 18 cents as of 6:14 a.m. ET on Friday, Nov. 13. It had traded as high as 96 cents on Thursday morning and stood at 75 cents on Thursday evening, when the desk last reported on it. About 182,300 contracts changed hands in the 24 hours to 6:14 a.m., nearly all of the roughly 184,700 traded since the market opened on Wednesday evening. Open interest stood at about 76,500 contracts.
The later deadlines moved the other way over the same 24 hours. The “Before Jan 2027” contract traded at 86 cents, up from 39 cents a day earlier, on about 77,600 contracts. The “Before Jul 2027” contract was at 93 cents, up from 78 cents, on about 40,600 contracts.
The letters
On Thursday, Nov. 12, the chairs of three House committees sent Huang a new request. In a letter signed by Foreign Affairs Chairman Brian Mast, China Select Committee Chairman John Moolenaar and Intelligence Committee Chairman Rick Crawford, they asked him “to appear for a closed-door, transcribed interview on December 1, 2026.” The letter calls the date “an accommodation to reflect recent events.” It warns that failure to cooperate “will result in the House Foreign Affairs Committee issuing a subpoena to compel your testimony,” and asks for written confirmation by 8 p.m. EST on Friday, Nov. 13, “or a subpoena will be issued.”
The China Select Committee posted the release carrying that letter at 8:07 p.m. ET on Thursday, along with letters to Nvidia General Counsel Tim Teter and Under Secretary of Commerce Jeffrey Kessler. The release describes it as the chairs’ second request. Their first, announced on Nov. 5, had asked Huang to brief the committees on Nov. 18 in a joint, closed-door session.
The Senate moved separately. Reuters reported at 7:15 p.m. ET that Senate Banking Committee Chairman Tim Scott had sent letters to Huang and Commerce Secretary Howard Lutnick asking them to testify, and that Scott would consider subpoenaing Huang if he does not appear voluntarily. Bloomberg Law reported that Scott asked Huang to appear on Dec. 3 and Lutnick on Dec. 10.
When the price moved
From 6 to 8 p.m. ET on Thursday, Kalshi’s trade records show the December contract changing hands mostly between 71 and 80 cents. After the House release went up at 8:07 p.m., it slipped into the high 60s by 8:30 p.m. and traded mostly in the 50s and low 60s between 10 and 11 p.m., apart from a brief jump to 83 cents at about 10:40 p.m. In the hour from 11 p.m. to midnight ET, it opened at 65 cents, traded as low as 3 cents and closed the hour at 20 cents, on about 30,400 contracts. Every hourly close from 1 a.m. to 6 a.m. ET on Friday fell between 19 and 28 cents.
Its rules state: “If Jensen Huang testifies in front of Congress before Dec 1, 2026, then the market resolves to Yes.” The interview date in the House letter is Dec. 1 itself, and Scott’s requested Senate date is Dec. 3. The rules count a closed-door session and a transcribed interview that is officially authorized and conducted under penalty of false statements to Congress, provided Huang gives at least one substantive answer. Written correspondence with committee members or staff does not count. The contract is set to close at 10 a.m. ET on Dec. 1.
Polymarket’s narrower question counts only public testimony. Its “Will Jensen Huang publicly testify before Congress by December 31, 2026?” contract last traded at 49 cents as of 6:14 a.m. ET Friday, on about $5,900 in 24-hour volume.
Lutnick
Kalshi’s contract on Lutnick leaving as Secretary of Commerce before 2027, part of its “Who will leave their role in the Trump administration in 2026?” market, last traded at 46 cents as of 6:14 a.m. ET Friday, up from 32 cents 24 hours earlier, on about 215,900 contracts. Open interest stood at about 284,900 contracts. In the hour from 1 to 2 p.m. ET on Thursday it traded as high as 51 cents on about 45,600 contracts, and in the hour from 7 to 8 p.m. ET it reached 56 cents. The desk covered this contract at 30 cents on Thursday afternoon.
Reuters also reported that senior White House officials were discussing whether to push Lutnick out, citing two people familiar with the situation. The Kalshi rule reads: “If Howard Lutnick leaves as Secretary of Commerce before 2027, then the market resolves to Yes.” On Polymarket, “Howard Lutnick out as Secretary of Commerce by December 31?” last traded at 44 cents as of 6:14 a.m. ET, up 12 points in a day, on about $56,000 in 24-hour volume.
Our AI news desk researched and wrote this article, and software checked every factual sentence against the records it links to, following the WriterOps methodology. Report an error.