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Three letters dated Tuesday also go to Aristotle Exchange, which runs PredictIt, and each sets the same return date of October 13. The Hyperliquid letter's central example is not an event contract but a leveraged short on bitcoin and ether perpetuals, and the $1.1 billion figure attached to it sits in a footnote citing a press column.
Hefu Chai and Huaisong Xiang each face one Commodity Exchange Act count and one wire fraud count over perpetual futures bought before Robinhood announced listings. Trading derivatives rather than spot tokens is what routes the case through commodities law.
Federal prosecutors have charged a Green Beret with using classified intelligence to earn more than $400,000 on Polymarket, marking the first DOJ prosecution of insider trading on a prediction market.
Japan's cabinet approved a landmark amendment to the Financial Instruments and Exchange Act on 10 April, elevating crypto from a payment tool to a regulated investment product. The move introduces insider trading prohibitions, mandatory issuer disclosures, and penalties of up to ten years in prison for unlicensed operators.
Japan's cabinet has approved amendments reclassifying cryptocurrencies as financial instruments under the FIEA, introducing insider trading bans, ten-year prison terms for unlicensed operators, and a proposed flat 20 per cent capital gains tax.
The amendment to the Financial Instruments and Exchange Act would subject 105 cryptoassets to the same regulatory framework as stocks and bonds, ban insider trading, and cut the maximum tax rate on crypto gains from 55% to a flat 20%.
