Tag: Markets

Coinbase Shifts NY Prediction Markets Case to Federal Court

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Coinbase’s chief legal officer, Paul Grewal, said Wednesday that the company had removed New York Attorney General Letitia James’ prediction markets lawsuit from state court to federal court, arguing that the case turns on disputed questions of federal law over how event contracts are regulated. The move escalates a legal fight that could help define whether prediction markets fall under federal commodities regulation and the scope of the US Commodities and Futures Trading Commission’s (CFTC) or state gambling laws, with broader implications for the oversight of platforms like Coinbase and…

New York Sues Coinbase, Gemini Over Unlicensed Markets

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New York’s attorney general has filed lawsuits against crypto exchange operators Coinbase Financial Markets and Gemini Titan for allegedly violating state gambling laws, according to court records cited by Reuters. Copies of the complaints show the state alleges both exchanges failed to obtain licenses from the New York State Gaming Commission to operate their markets, Reuters reported.  “Gambling by another name is still gambling, ​and it ​is not ⁠exempt from regulation under our state laws and Constitution,” Attorney General Letitia James said in a statement. James said the lawsuit seeks…

Last Week Tonight‘s John Oliver Says he Won‘t Placate Prediction Markets

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John Oliver, host of HBO’s Last Week Tonight, targeted prediction market platforms on his show’s latest weekly deep dive. In Sunday’s airing of the HBO show, Oliver discussed some of the trivial event contracts on platforms such as Kalshi and Polymarket, including betting whether members of the Trump administration would use certain words in public addresses, to the companies’ controversial partnering with news organizations.  Specifically, the host questioned Donald Trump Jr.’s relationship with both platforms — an adviser to Kalshi and Polymarket — and how the US Commodity Futures Trading…

Stablecoins Behave Like FX Markets as Liquidity Splits: Eco CEO

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Stablecoins behave like a fragmented foreign exchange market, where liquidity is spread across blockchains and pools, creating price differences and uneven access to dollar liquidity. Moving stablecoins looks simple on the surface. But under the hood, it’s often a multi-step transaction routed across chains and pools. “It’s a very special case of a foreign exchange market onchain, and that leads to bad user experience, with unexpected slippage, transaction reversion and unfamiliar information when moving your dollar from point A to point B,” Ryne Saxe, CEO at stablecoin infrastructure company Eco,…

After Kalshi Appeal, Prediction Markets Fight Could Head to Supreme Court

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An appellate court is expected to reach a decision after hearing arguments from Kalshi and lawyers representing the state of Nevada. Some legal experts speculated that the state vs. federal jurisdiction battle over regulating prediction markets companies could soon be headed to the United States Supreme Court. On Thursday, the US Court of Appeals for the Ninth Circuit heard oral arguments from lawyers representing prediction markets platform Kalshi and Nevada authorities over the state’s ban on the prediction markets’ event contracts. The appeal was over a lower court decision preventing…

Trump warns of resumed fighting, impacting Bitcoin and Ethereum markets

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Trump stated “If there’s no deal, fighting resumes,” adding geopolitical tension to crypto markets. The Bitcoin $60,000 dip market sits at 15% YES for Bitcoin dipping to $60,000 in April. Market reaction The Bitcoin dip market holds at 15% YES with 14 days left in April. Traders are pricing in increased volatility from the geopolitical tension, which could push Bitcoin prices lower. The Ethereum $2,900 target market is also under pressure, with the likelihood of reaching $2,900 within the specified period decreasing. Bearish sentiment in both markets tracks the broader…

Kalshi to Create ‘Portal for Parents‘ on Prediction Markets: Report

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CEO Tarek Mansour said in an interview that Kalshi would prevent kids from using a parent’s ID to skirt its age restrictions by launching a parent portal and AI verification. Kalshi co-founder and CEO Tarek Mansour reportedly announced a new strategy for the prediction markets platform to crack down on minors illegally using its services. According to a Wednesday Semafor report, Mansour said that Kalshi was launching a “portal for parents” to submit their identification to check whether their children were using the platforms under their names. There have been…

Kalshi broadens 24/7 commodities offering with new agriculture, metals, and energy markets

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Kalshi launched a new Commodities Hub on Tuesday, expanding its event contracts platform deeper into macro markets as volatility across oil, metals, and agriculture drives demand for faster ways to hedge and speculate. The new section broadens Kalshi’s commodities lineup beyond existing contracts tied to WTI crude, Brent crude, gold, and silver, adding markets linked to natural gas, coffee, copper, sugar, corn, soybeans, wheat, nickel, diesel, and lithium. The company said the hub is meant to give users a simpler alternative to futures by letting them trade binary style event…

High Roller stock jumps over 100% on Crypto.com prediction markets deal

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High Roller Technologies announced today that it signed a deal with Crypto.com to enter the U.S. prediction markets space. The company’s shares surged more than 100% from about $5 to nearly $11 on Tuesday before pulling back roughly 45% to trade near $6.38 at press time. The company said it executed a definitive agreement with Crypto.com Derivatives North America that will allow High Roller to launch an event based prediction markets offering, initially in the United States. The planned offering will cover finance, sports, and entertainment, marking a strategic expansion…

Fireblocks Opens Access to Lending Markets for 2,400 institutions

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Enterprise digital asset infrastructure platform Fireblocks said Wednesday it launched Earn, a feature that lets institutional clients route stablecoin balances into onchain lending strategies through Aave and Morpho-powered products. The product launches with a Sentora-curated vault on Morpho and direct access to Aave’s stablecoin lending markets, according to Fireblocks. The company said Earn is available now in Early Access for Fireblocks customers. Fireblocks said the feature is aimed at clients sitting on large idle stablecoin balances between settlement windows and deployment cycles. The company said it processed $6 trillion in…