Comer presses Crypto.com, Hyperliquid and PredictIt on identity checks and suspicious trades - theblock.co

A senior lawmaker has raised questions with three crypto and prediction-market platforms—Crypto.com, Hyperliquid and PredictIt—over how they handle identity verification and report suspicious trading activity. The inquiry, first reported by theblock.co, reflects growing congressional attention to whether platforms operating in or adjacent to U.S. markets meet anti-money-laundering and know-your-customer expectations.

The scrutiny lands on firms with different structures: Crypto.com is a large centralized exchange, Hyperliquid is a decentralized perpetuals venue, and PredictIt is a prediction market. That mix suggests lawmakers are testing how compliance norms apply across business models, particularly where decentralized protocols or event-based contracts may sit outside traditional brokerage oversight.

For markets, the relevance is regulatory rather than operational. Congressional letters do not themselves change rules, but they can signal where future legislation or agency enforcement may focus. What to watch: whether the platforms respond publicly, whether the questions expand to other venues, and whether the attention translates into concrete proposals on identity checks and suspicious-activity reporting for crypto and prediction markets.