The Chair of the US House Oversight Committee, Representative James Comer, has expanded his investigation into potential insider trading on prediction markets, requesting information from three additional platforms about their safeguards against trading on non-public information.
According to CNBC, Comer asked Hyperliquid Labs, Crypto.com and Aristotle Exchange, which owns prediction market PredictIt, to provide details on their identity verification protocols, know-your-customer (KYC) procedures and processes for detecting and reporting suspicious trading activity.
In a statement, he said, “The House Oversight Committee is investigating whether these platforms are fulfilling their legal obligations and doing enough to identify and prevent insider trading before it happens.
