Key Takeaways ▸ Beshear blocks a invoice that might have pressured DraftKings, FanDuel, and Fanatics to decide on between sportsbooks and prediction markets. ▸ Lawmakers want simply +2 Senate votes and +3 House votes to overturn the veto. ▸ An override might set off a state vs. federal authority battle over prediction markets. Kentucky Gov….
Key Takeaways ▸ Experts say stablecoins can seem systemically protected whereas creating localized stress for smaller banks and establishments. ▸ The deal with stablecoin yield overlooks how deposit flows and competitors are reshaping monetary strain factors. ▸ Beneath coverage debates, specialists say the Clarity Act battle facilities on who controls the interface the place cash…
A brand new report from the White House Council of Economic Advisers (CEA) simply rocked prediction markets on crypto laws. On Kalshi, odds of US crypto market construction laws passing earlier than 2027 have been risky, they usually jumped roughly 15% following the discharge, from 55% to round 70%. The CEA report landed with a…
After months of criticism over controversial prediction markets tied to conflict and U.S. navy operations, some lawmakers are actually turning their consideration to offshore platforms working past the attain of U.S. regulators. In a letter despatched this week, Massachusetts Reps. Seth Moulton and Jim McGovern, in addition to different Democratic lawmakers, urged the Commodity Futures…
Key Takeaways ▸ Repeated timeline misses distinction with behind-the-scenes progress and a possible compromise nearing committee assessment. ▸ Odds of passage this 12 months have dropped to 51%, down from 76% on March 21. ▸ Disputes over regulatory authority and stablecoin yield guidelines stay the largest obstacles to finalizing the invoice. ▸ Midterm timing and…
Key Takeaways ▸ Kentucky grew to become the primary state to explicitly tax prediction market platforms (14.25% on transaction charges), with Iowa (20%) and Illinois (50%) proposing related measures, all centered on income seize reasonably than prohibition. ▸ The federal company that oversees buying and selling markets (the CFTC) sued three states, arguing that prediction…
The Commodity Futures Trading Commission is sending a transparent, two‑observe message about prediction markets this week: They are right here to remain, they’re helpful, and they are going to be policed like all critical derivatives market. This week, CFTC Enforcement Director David Miller used remarks on the NYU Law School to warn that the company will deal…
More than 40 members of Congress on Monday urged federal regulators to handle potential insider buying and selling in prediction markets, warning that the platforms may enable authorities officers to revenue from nonpublic data. The letter, signed by 42 representatives and despatched to the Commodity Futures Trading Commission (CFTC) and the Office of Government Ethics,…
Texas Lt. Gov. Dan Patrick has formally directed the Senate State Affairs Committee to research prediction markets and ship coverage suggestions forward of the state’s 2027 legislative session, placing operators on discover in the second-most populated state in the nation. Patrick, who additionally serves as president of the Texas Senate, shared his priorities for the…
On the identical morning that greater than 40 Democratic lawmakers pressed the Trump administration to situation steerage barring federal staff from utilizing insider info to commerce on prediction markets, Kalshi plastered Washington, D.C. with inexperienced billboards. The messages goal quite a few misconceptions rising in politically-motivated rhetoric directed at prediction markets. Namely, Kalshi is emphasizing…