Regulatory Scrutiny Expands

The launch becomes part of the broader U.S. discussion around Hyperliquid-linked perpetuals following the House insider-trading probe. Regulators and lawmakers focus on whether PaperTrade’s product is accessible to restricted U.S. users and whether market surveillance is adequate.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.