Comer probes Crypto.com, Hyperliquid, PredictIt on identity checks, suspicious trades

House Oversight Chair James Comer has requested records from Crypto.com, Hyperliquid, and PredictIt regarding their user verification processes and detection of suspicious activity. The inquiry is part of a larger congressional investigation into potential insider activity within prediction markets. Specifically, Comer highlighted a leveraged short on Hyperliquid that allegedly coincided with nonpublic information about an October 2025 tariff announcement. This request underscores increasing regulatory scrutiny on these platforms, potentially impacting market confidence and volume. Key Takeaways Comer’s request suggests heightened regulatory focus on Crypto.com, Hyperliquid, and PredictIt, consistent with increased scrutiny on their operations. The investigation into Hyperliquid’s activities could indicate broader implications for prediction markets, potentially affecting market perceptions and participant behavior. Markets appear to be adjusting to this development, with Hyperliquid’s price prediction market showing decreased confidence in reaching $100 by year-end. What to Watch Monitor any responses from Crypto.com, Hyperliquid, and PredictIt to Comer’s request, as well as any f...