Former U.S. Rep. George Santos will pay $35,069.98 and accept a three-year trading ban to settle CFTC findings that he manipulated a Kalshi market tied to his own State of the Union attendance. A final order reveals he profited first from Yes contracts, then switched to No while continuing to tell the public he planned […]
Bitcoin.com News•Luci Kelemen4 Aug
The push to regulate wildfire prediction markets underscores the ethical dilemma of financial incentives potentially encouraging harmful actions.
CryptoBriefing•Editorial Team3 Aug
Traders spent $1.2 million betting on California wildfires. Senators now want the CFTC to shut the markets down.
BeInCrypto•Lockridge Okoth3 Aug
Restricting wildfire prediction markets could set a precedent for tighter regulation of event-based trading, impacting the broader crypto market.
CryptoBriefing•Editorial Team3 Aug
UBS's penalty underscores the critical need for robust compliance systems, setting a precedent for crypto firms under CFTC scrutiny.
CryptoBriefing•Editorial Team3 Aug
The CLARITY Act's failure may hasten SEC and CFTC rulemaking, potentially enhancing regulatory clarity and boosting market confidence.
CryptoBriefing•Editorial Team3 Aug
Bernstein expects SEC and CFTC rulemaking to accelerate under Project Crypto if the Clarity Act fails to pass this year.
The Block•Brian Danga3 Aug
CME is arguing that the contracts are commodity option swaps subject exclusively to the CFTC's oversight rather than the SEC's.
The Block•Zack Abrams2 Aug
Minnesota’s prediction market ban remains blocked as the CFTC, state regulators and political groups fight over control of event contracts.
George Santos bet against his own no-show and made $17,570. Kalshi caught it in seconds. The CFTC fined him $35,000.
BeInCrypto•Lockridge Okoth1 Aug
Former expelled U.S. Rep. George Santos settled with CFTC over trades made on Kalshi about the State of the Union.
The Block•Sarah Wynn31 Jul
Santos's case underscores the regulatory challenges and potential vulnerabilities in prediction markets, especially for decentralized platforms.
CryptoBriefing•Editorial Team31 Jul
The CFTC asked a court to stop New York enforcing against the prediction market the day before the state filed.
The lawsuit adds to a growing clash between New York and the CFTC over whether federally regulated prediction markets are subject to state gambling laws.
Cointelegraph•Cointelegraph by Yohan Yun31 Jul
Binance.US has moved closer to entering the U.S. prediction market business after confirming plans to seek a federal license that would let it offer regulated event contracts to retail customers. According to Journalist Eleanor Terret, citing comments from Binance.US Chief…
Binance US CEO Steven Gregory announced at the RareEvo conference in Las Vegas that the exchange plans to apply for a Commodity Futures Trading Commission Designated Contract Market license next month. If approved, the license would allow Binance US to launch its own regulated prediction market in the United States,
TheNewsCrypto•Sarayu Krishna30 Jul
Binance.US CEO Stephen Gregory said at a recent conference that the company will apply for a designated contract market license in August.
The Block•Danny Park30 Jul
The CEO of the US crypto exchange said that the company would apply for a license with the CFTC in August allowing it to offer prediction markets.
Cointelegraph•Cointelegraph by Turner Wright29 Jul
Binance.US plans to apply for a CFTC designated contract market license next month as it expands into prediction markets and derivatives.
CryptoBriefing•Estefano Gomez29 Jul
A federal judge has rejected the CFTC’s request to stop Wisconsin from enforcing state gambling laws against federally regulated prediction market platforms. Wisconsin court rejects CFTC injunction Judge William Griesbach of the U.S. District Court for the Eastern District of…