House Panel Expands Prediction-Market Probe to Three More Platforms
The inquiry seeks records on customer verification, internal monitoring and suspicious-trading reports from Hyperliquid Labs, Crypto.com and Aristotle Exchange.
The U.S. House Oversight Committee has expanded its investigation of prediction-market platforms to three additional companies, seeking records on customer verification and controls against suspected insider trading.
Chairman James Comer sent letters to Hyperliquid Labs, Crypto.com and Aristotle Exchange, whose platforms include PredictIt. The requests cover know-your-customer procedures, internal monitoring and systems for identifying and reporting suspicious trades.
The committee began a similar inquiry into Kalshi and Polymarket in May. It has received about 1,000 documents and several briefings as lawmakers examine whether prediction-market operators are meeting legal obligations and preventing trades based on nonpublic information.
The inquiry includes suspected cases involving bets on political and geopolitical events. One case involved a U.S. soldier who allegedly earned about $400,000 betting on Polymarket over the fate of former Venezuelan leader Nicolás Maduro. Former Rep. George Santos was permanently banned and fined after betting on Kalshi about whether he would attend the State of the Union address.
The latest letters broaden congressional scrutiny across major prediction-market platforms, with the committee seeking information on how each venue verifies customers and monitors trading activity.
