House Oversight Committee Probes Crypto.com, Hyperliquid and PredictIt

House Oversight Chair James Comer is seeking information from Crypto.com, Hyperliquid, and PredictIt regarding their internal processes for verifying users and identifying suspicious trading activity. The request is part of a broader congressional investigation into potential insider activity occurring within prediction markets.

The inquiry specifically points to a leveraged short position on Hyperliquid. According to the request, this trade allegedly coincided with nonpublic information regarding a tariff announcement in October 2025.

This move signals increased regulatory scrutiny for these platforms. The investigation may influence market confidence and trading volume as the platforms respond to the congressional request.

Markets appear to be reacting to the news, with Hyperliquid’s price prediction market showing a decline in confidence regarding the token reaching $100 by the end of the year.

Traders are now watching for any official responses from the three platforms to the House Oversight Committee. Future congressional actions, including any disclosures or acknowledgments from the companies regarding their compliance, could impact market sentiment and pricing trends.