The House Oversight Committee has expanded its prediction market insider trading investigation, issuing document requests to Crypto.com, Hyperliquid Labs, and PredictIt operator Aristotle Exchange.

House Oversight Chairman James Comer announced the move on Sept. 29, requesting records from the three companies on identity verification procedures and controls for detecting suspicious trading, according to the committee's announcement. The platforms face an Oct. 13 deadline to comply.

The requests mark the latest phase of an inquiry the committee launched in May into trading on prediction platforms that offer event contracts on real-world outcomes. Taken together, the requests focus on how platforms identify traders, restrict access by geography or official role, review unusual activity, and refer potential concerns to regulators.

Military Betting Case Drives Wider Review

The expansion follows an April federal indictment of U.S. Army Master Sgt. Gannon Ken Van Dyke. According to the Justice Department, prosecutors allege he used classified information about Operation Absolute Resolve to place wagers on Polymarket, generating $409,881 in profit. Van Dyke has pleaded not guilty.

The committee opened its review with requests to Polymarket and Kalshi. Lawmakers say they have since received nearly 1,000 documents and five briefings. Recent warnings from the Commodity Futures Trading Commission (CFTC) on prediction markets focused on market controls where traders may hold information unavailable to other participants. The newly requested records could show how the three platforms handle those risks in practice, although the committee has not said whether the requests establish wrongdoing by any of the companies.

Crypto.com Records Requested by Congress

In a letter to Crypto.com, the committee asked the company to explain differences between identity checks on its global exchange and those applied by Crypto.com Derivatives North America. The request also seeks records on geographic restrictions, suspicious activity referrals, and internal rules covering employees who receive advance knowledge of listings, custody decisions, or regulatory matters.

The committee is also seeking details on government employees or officials who traded contracts tied to crypto regulation, and asked Crypto.com to identify relevant policies covering customers whose official duties could give them access to nonpublic information.

Hyperliquid received a separate letter after lawmakers cited a reported $1.1 billion leveraged short on Bitcoin and Ether. The position reportedly opened about 30 hours before President Trump's October 2025 tariff announcement and later generated more than $150 million in profit. In a separate matter, Kalshi denied reports of a CFTC probe into trading patterns on its Ether perpetual market.

PredictIt Asked About Trading Controls

A third letter directs PredictIt to provide records on identity checks, suspicious trading reviews, political event contracts, and referrals to regulators. Congress also asked how removing the platform's per-contract trader limit under CFTC Letter No. 25-20 changed liquidity, trading scale, or monitoring. The committee additionally requested a briefing from PredictIt staff and set an Oct. 13 deadline for the response.

The document requests cover materials dating from Jan. 1, 2024, through the present. The committee said it will review the new records before deciding whether further congressional action is needed. The responses and requested briefings are therefore the next stated steps in the inquiry, with the committee's review covering both platform safeguards and trading involving people who may have access to nonpublic information.