House Oversight Expands Insider Trading Probe to Hyperliquid, Crypto.com and PredictIt
- —Letters seek KYC and geographic-restriction policies and procedures for flagging suspicious trades
- —Committee cites a $1.1 billion leveraged short on BTC and ETH perps opened about 30 hours before Trump's China tariff announcement
- —The position was closed shortly after for more than $150 million in profit
- —Probe began May 22 with Polymarket and Kalshi, yielding nearly 1,000 documents and five briefings
Why it matters: The widening inquiry raises the prospect of stricter KYC and insider-trading oversight for onchain and crypto derivatives platforms.
Source: BlockchainReporter