PANews reported on April 17 that, according to The Block, U.S. Commodity Futures Trading Commission (CFTC) Chairman Mike Selig 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 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 related to these new markets.

Republican Representative Austin Scott has 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. Lawmakers also expressed concerns about whether the CFTC has sufficient staff to oversee the prediction market and the crypto industry. Selig stated that the agency is "more efficient than ever" and is hiring more staff and using AI for monitoring. The CFTC is currently supposed to have five commissioners, but Trump has not yet nominated anyone to fill the vacancies.