Polymarket got hit by a contract exploit that drained more than $600,000 in crypto, with losses climbing close to $700,000, but the real scare was what could have happened if the attacker had twisted market resolution permissions. Losses: more than $600K drained, nearly $700K total Target: Polymarket’s UMA CTF Adapter on Polygon Main risk: compromised […]
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Minnesota has drawn a hard line against prediction markets, and the CFTC is answering with a lawsuit that could decide whether states can treat these markets like gambling or whether federal derivatives law wins the turf war. CFTC sues Minnesota over a new prediction markets ban Law takes effect Aug. 1 unless a court blocks […]
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Polymarket is pushing prediction markets into one of finance’s murkiest corners: private-company valuations, IPO timing, and secondary trading activity. A new exclusive deal with Nasdaq Private Market gives traders a way to bet on unicorn outcomes before those companies ever hit public markets. Exclusive partnership: Polymarket teams up with Nasdaq Private Market New markets: private-company […]
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Kalshi has crossed $4 billion in weekly trading volume for the first time, a milestone that says a lot about where prediction markets are heading. What used to look like a quirky side bet for nerds, traders, and political junkies is starting to look like a serious market category with real liquidity, real demand, and […]
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U.S. regulators are moving closer together on prediction markets just as Wall Street doubles down on tokenization, Bitcoin miners face harsher economics, and stablecoins keep creeping toward the center of global finance. SEC and CFTC coordination could expand enforcement risk for prediction markets BlackRock tokenization pushes Ethereum deeper into TradFi plumbing Bitcoin price action above […]
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The CFTC is moving toward formal protections for some non-custodial crypto wallet developers, with Phantom potentially becoming the template for actual rules instead of a one-off no-action letter. At the same time, the agency is taking a hard line on prediction markets, telling states to back off and let federal law do its job. Phantom-style […]
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Coinbase is pressing the CFTC to draw a clean line around prediction markets, arguing the products already belong under federal derivatives law and don’t need Congress to reinvent the wheel. Coinbase filed on April 30 with the CFTC on prediction markets and event-based derivatives No new legislation needed, Coinbase says — the agency already has […]
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The CFTC’s push to formalize prediction market event contracts has triggered a messy but important showdown over who gets to control one of crypto’s most interesting—and most controversial—market ideas. More than 1,500 public comments were filed on the CFTC prediction market rules proposal. Kalshi, Polymarket, and a16z want the CFTC to keep sole federal control. […]
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Polymarket’s Seoul mayoral market has surged past $33.67 million in volume, turning South Korean politics into a live crypto price feed and, depending on your politics, either a brutally honest signal or a very expensive mess. Seoul race volume: about $33.67 million, or roughly 46 billion won Market leader: Jung Won-oh near 87% implied odds […]
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Polymarket is trying to bring its main exchange back into the U.S. market, and this time it wants the real door opened, not the side entrance. Main U.S. access: Polymarket wants direct approval for its core global exchange. Big money, big legitimacy: ICE invested heavily after Polymarket bought a CFTC-licensed exchange and clearinghouse. Regulatory heat: […]
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