House Oversight Chairman James Comer has requested records from Hyperliquid Labs, Crypto.com and PredictIt regarding user verification and suspicious trading activity, expanding an investigation into potential insider trading on prediction markets. The probe cites reports of a Hyperliquid short placed before an October 2025 tariff announcement.
Federal prosecutors charged two Robinhood engineers, Hefu Chai and Huaisong Xiang, with commodities fraud and wire fraud for allegedly using confidential information about upcoming cryptocurrency listings to profit approximately $50,000 each through perpetual futures trades on the decentralized exchange Hyperliquid. The case extends traditional insider trading laws to decentralized crypto markets.
Federal prosecutors charged Hefu Chai and Huaisong Xiang with commodities fraud and wire fraud for allegedly using confidential information about upcoming Robinhood crypto listings to trade perpetual futures on Hyperliquid ahead of public announcements.
Federal regulators have launched at least three previously unreported investigations into suspicious trading activity on Polymarket, including trades related to Biden pardons, Iran war predictions, and potential insider trading at Google. A cluster of accounts also won big on companies audited by KPMG.
Prediction market platform Kalshi permanently banned former Rep. George Santos and fined him $71,356 after determining he made over $17,000 by betting against his own attendance at President Trump's State of the Union address. This marks Kalshi's first-ever lifetime ban.
Prediction market Kalshi permanently banned former Rep. George Santos and fined him over $71,000 after determining he placed bets on whether he would attend the State of the Union address. This is Kalshi's first-ever lifetime ban.
More than 150 wallets on Polymarket may have traded on inside US military information, according to new research, while a soldier who participated in a raid that captured Maduro faces charges for trading on the platform. Polymarket CEO Shayne Coplan revealed the company employs a former FBI officer to monitor traders full-time.
Gabriel Perez, President Donald Trump's longtime teleprompter operator, has been placed on unpaid administrative leave and is under federal investigation by the CFTC for allegedly using insider knowledge to profit from bets on Trump's speeches on the prediction market Kalshi.
Prediction market platform Kalshi announced it will require users to disclose their employers before trading certain contracts involving sensitive information, such as corporate earnings and product launches. The move addresses growing concerns about insider trading on the CFTC-regulated platform.
Prediction market platform Kalshi launched the first CFTC-regulated Bitcoin perpetual futures in the U.S. and applied for altcoin derivatives, while former congressman George Santos faces federal investigation for allegedly betting against his own attendance at a State of the Union address on the platform.
Federal prosecutors arrested Master Sergeant Gannon Ken Van Dyke for allegedly using confidential military intelligence to place over $400,000 in bets on Polymarket regarding Venezuela operations, including the capture of Nicolás Maduro. The soldier allegedly participated in the raid himself and attempted to conceal his betting activity.
Prediction market platform Kalshi penalized three congressional candidates—Mark Moran, Matt Klein, and Ezekiel Enriquez—for wagering on their own campaigns. Minnesota State Senator Matt Klein admitted placing bets out of curiosity, while Moran claimed he wanted to test Kalshi's response to insider trading.
