The U.S. House Oversight Committee expanded its review of online trading platforms on September 29, requesting information from Crypto.com, Hyperliquid Labs and PredictIt operator Aristotle Exchange. Chairman James Comer’s letters seek records on customer identification, suspicious trading detection and referrals to authorities. The requests bring specific companies into a policy debate about whether existing safeguards can identify trades made using government information or other facts unavailable to ordinary market participants.

Crypto.com was asked about employee trading connected to corporate decisions, including token listings and custody arrangements, and activity involving government officials. The Hyperliquid request addresses identification procedures and a reported leveraged short position before a major U.S. tariff announcement. PredictIt received questions concerning its event markets. These are tailored information requests, with the committee seeking to understand how different business models handle the risks associated with access to nonpublic information.

The letters build on a broader investigation that previously included Polymarket and Kalshi. The committee said it had received nearly 1,000 documents and five briefings from those platforms. The review is intended to inform potential legislation addressing trading by government officials on prediction markets. A request for records is a fact-finding step; it does not establish that a recipient or its customers have violated a particular law or trading rule.

For the companies, the immediate issue is documenting what their systems can identify and how suspicious activity is escalated. For lawmakers, the responses could reveal gaps between identity checks, employee restrictions and transaction monitoring across centralized and blockchain-based venues. Any resulting policy proposal would need to define which participants, information and contract types it covers. The September letters advance that evidence-gathering process while putting platform-specific safeguards under closer congressional examination.