House Oversight Committee Expands Insider-Trading Probe to Crypto Platforms
James Comer requested records from Hyperliquid Labs, Crypto.com and Aristotle Exchange, which operates PredictIt, on identity checks and insider-trading controls.
A congressional investigation into possible insider trading on prediction markets now covers Hyperliquid Labs, Crypto.com and Aristotle Exchange Inc., the operator of PredictIt.
Committee Chairman James Comer sent letters Tuesday to the three companies’ CEOs requesting records and information on identity-verification procedures and efforts to identify and prevent insider trading on their platforms.
Comer said online prediction platforms are becoming more mainstream while some people use nonpublic information to place bets and make thousands of dollars. The committee is examining whether the platforms are meeting their legal obligations and taking sufficient steps to stop such activity before it occurs.
The investigation previously included Kalshi and Polymarket. Adding Hyperliquid and other crypto-linked platforms expands the congressional review beyond dedicated prediction markets to a wider group of trading venues.
