Biden's adviser: 'We are going to look at' GameStop legal questions

Brian Deese, Director of the National Economic Council, made the remark in an NBC interview about how the White House plans to address the market volatility.

"I could tell you the Securities and Exchange Commission is focused on understanding fully what happened here. And their focus is on protecting retail investors and also the integrity of the market," said Deese.

He suggested that the administration might seek to widen its monitoring, saying that "we are going to look closely at the broader policy questions associated with the equity markets."

Last week, GameStop's stock hit an all-time high of $492 a share before falling back to about $325 on Friday.