The chairman of the U.S. CFTC was questioned at a congressional hearing regarding prediction markets, Hyperliquid, and staffing.

CoinFeed reported on April 17 that, according to The Block, Mike Selig, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), faced questioning from members of Congress at a House Agriculture Committee hearing regarding prediction markets, Hyperliquid, and staffing. Democratic Representative Jim Costa expressed dissatisfaction with contracts allowing bets on events such as the death of Iranian Supreme Leader Ayatollah Khamenei, calling it "crazy" and arguing that it was not market innovation but profiting from tragedy. Selig stated that the CFTC had issued advance notice of proposed rulemaking to address issues with these new markets. Republican Representative Austin Scott raised concerns about oil contracts on Hyperliquid, warning of potential harm to U.S. consumers. Selig stated that these markets are being monitored with the goal of bringing them under U.S. regulation.