House Panel Expands Prediction-Market Probe to Three Trading Platforms
The committee seeks records on customer checks, geographic controls and suspicious-trading surveillance, with responses due Oct. 13.
The House Committee on Oversight and Government Reform has widened its investigation into potential insider trading on prediction markets to Hyperliquid Labs, Crypto.com and Aristotle Exchange, the operator of PredictIt.
Chairman James Comer sent letters Sept. 29 seeking records on how the platforms verify customers, enforce geographic restrictions and detect or refer suspicious trading. The companies were asked to respond by Oct. 13, 2026.
The Hyperliquid letter referenced a $1.1 billion leveraged short across Bitcoin (BTC) and Ether (ETH) perpetual contracts opened 30 hours before President Donald Trump’s tariff announcement in October 2025. It also referenced claims that the position generated more than $150 million in profit.
The letter did not identify the trader or establish that the position used nonpublic information. Crypto.com was asked whether employees or affiliates traded event contracts using advance knowledge of listings, delistings, custody decisions, token decisions or regulatory actions.
Aristotle Exchange was asked for records involving PredictIt contracts tied to elections, nominations and government actions. The committee’s inquiry began in May with Kalshi and Polymarket, and it said it has since received nearly 1,000 documents and five briefings.
Responses from the three companies are due no later than Oct. 13.
