CFTC Chair Mike Selig Faces Bipartisan Scrutiny Over Prediction Markets and Hyperliquid Perps
CFTC Chair Mike Selig faced bipartisan criticism during a House Agriculture Committee hearing over concerns about prediction markets and Hyperliquid, a decentralized perpetual futures exchange. Lawmakers raised concerns about suspicious trades timed with major political announcements, including a $500 million wager on oil prices before a Trump administration statement on Iran. Selig defended his agency's stance on insider trading but avoided direct answers about potential Trump family involvement.
Topics: CFTC Hyperliquid insider trading political influence prediction markets regulatory hearings