U.S. House Oversight Committee Chairman James Comer has extended the congressional insider trading investigation into prediction markets by requesting documents from Hyperliquid Labs, Crypto.com, and Aristotle Exchange, which operates PredictIt. The committee is seeking records on customer identification procedures and internal systems for monitoring suspicious transactions to determine if these platforms are meeting legal obligations to prevent illicit trading.
This expansion follows a similar inquiry launched in May targeting Kalshi and Polymarket, which has already yielded nearly 1,000 documents and multiple briefings. Lawmakers cited specific instances of suspected insider trading, including a U.S. soldier who profited approximately $400,000 betting on Venezuelan political outcomes via Polymarket and former Congressman George Santos, who was permanently banned and fined after wagering on his own attendance at the State of the Union address through Kalshi.
U.S. House Expands Insider Trading Probe to Hyperliquid, Crypto.com, and PredictIt
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