Key Highlights: Lighter’s native token ($LIT) rebounded toward $3.66, with technical indicators requiring a high-volume breakout above $4.00 to confirm a continued recovery. Lighter plans to submit license applications to the U.S. Commodity Futures Trading Commission (CFTC) in November to offer perpetual futures and options. Protocol revenue reached approximately $2.8 million over 30 days, nearly ...
Key Highlights: CME Group CEO Terry Duffy argues crypto perpetual futures function as swaps rather than futures, placing them under the stricter post-2008 derivatives regulatory framework. The statements come amid an ongoing lawsuit filed by CME on June 18 against the CFTC, which approved a Kalshi Bitcoin perpetual contract classified as a futures product on ...
Key Highlights Missouri authorities have issued formal warnings to event market operators, demanding they cease offering sports-based event contracts within 30 days or face legal enforcement. State officials argue these platforms unlawfully bypass licensing fees and a 10% wagering tax on adjusted gross revenue by classifying bets as CFTC-governed swaps. The dispute escalates a nationwide ...
Key Highlights President Donald Trump’s administration is seeking federal regulatory oversight for prediction markets through the Commodity Futures Trading Commission (CFTC). A coalition of 39 U.S. states and the District of Columbia has opposed federal preemption, stating in an amicus brief that the clash has escalated into a “national turf war” likely requiring Supreme Court ...
Key Highlights: Federal Judge Alvin Hellerstein rejected a joint motion from crypto exchange Gemini and the CFTC seeking to vacate a $5 million settlement reached in January 2025. The court determined that the CFTC’s shift in regulatory stance and Gemini’s claims of coercion were insufficient grounds to overturn the finalized agreement. Despite having already paid ...
Key Highlights: The U.S. CFTC proposed defining qualifying event contracts across politics, sports, culture, and weather as swaps, while issuing an interim final rule to exclude traditional sportsbook wagers and casino games. ESMA issued an opinion advising MiCA-authorized crypto-asset service providers to halt services for noncompliant asset-referenced and e-money tokens within three months. New York ...
Key Highlights The Commodity Futures Trading Commission (CFTC) has released two new regulatory proposals addressing prediction markets. Under the proposed framework, event contracts are formally categorized as swaps under federal derivatives law. The measures establish explicit boundaries to differentiate federally regulated financial contracts from traditional gambling. CFTC Unveils Dual Regulatory Proposals for Prediction Markets The ...
Key Highlights A circuit court split has emerged over whether sports-related prediction markets qualify as financial swaps subject to CFTC authority or as gambling governed by state law. Two federal appellate courts have determined that sports prediction markets constitute state-regulated gambling, while one circuit court held they fall under federal oversight. A flurry of recent ...
Key Highlights The CFTC and SEC are advancing independent regulatory initiatives addressing leveraged retail crypto trading, registration, and institutional custody. A regulatory gap persists for unleveraged spot trading, which continues to sit outside comprehensive federal supervision despite anti-fraud enforcement powers. Market participants view the proactive regulatory agency approach as a near-term catalyst driving mergers, acquisitions, ...
Key Highlights Prediction market platform Kalshi is actively investigating trading activity surrounding contracts that predicted the selection of Zacharia as press secretary. Zacharia had traded at an implied probability of roughly 1% prior to the announcement, prompting regulatory and market integrity scrutiny. Exchange rules permit Kalshi to freeze accounts and restrict fund withdrawals during pending ...
Key Highlights: The Commodity Futures Trading Commission (CFTC) has sparked widespread industry discussion following a new regulatory announcement concerning swaps and event contracts. Social media engagement reflects heightened stakeholder interest regarding how proposed oversight updates may reshape market operations and compliance expectations. Market participants are turning their focus to the forthcoming public comment period, which ...
Key Highlights: A new regulatory proposal could bolster federal oversight arguments for Kalshi and Polymarket US against state gambling regulators by treating event contracts as swaps. The Commodity Futures Trading Commission (CFTC) issued a separate interim final rule clarifying that traditional casino games and sports betting are excluded from swap definitions. While the event contract ...