Senate Democrats Demand Prediction Markets Hearing
All 11 Democrats on the U.S. Senate Banking Committee request a public hearing on prediction markets, citing oversight responsibilities after a private GOP meeting with Kalshi CEO. #Update #Legal
Prediction markets
Ethereum: NY AG Bans Polymarket Gambling
New York AG Letitia James sues @Polymarket, alleging illegal gambling operations targeting vulnerable users, intensifying regulatory conflicts over prediction markets. #Breaking #Legal
CFTC Investigates $5B Kalshi Trades
The CFTC is reviewing Kalshi’s ether perpetual trades, with $5.5 billion in near-identical trades raising scrutiny. Kalshi denies wash trading, attributing patterns to market makers’ orders.
CFTC Warns Prediction Markets Manipulation Risks
The CFTC’s Division of Market Oversight issued guidance on “mention markets,” highlighting manipulation risks in prediction contracts based on unverifiable conduct. The advisory is not a new law. #Update #Legal
LeBron James Surges in NBA Buzz Index
LeBron James leads @SIBetting’s NBA prop-bet index with 16,000 social posts and 5,000 Google searches, highlighting conversation metrics over financial data. #Update #Sports
SEC Warns of Cheating Risks in Prediction Markets
U.S. Commodity Futures Trading Commission warns that “mention markets” on prediction platforms like @Kalshi and @Polymarket may be vulnerable to manipulation, limiting event contract approvals. #Update #Legal
Bitcoin Ether Perpetual Volumes Surge 150%
Ether’s perpetual futures on Kalshi show a stable $5,499 target despite fluctuating contract sizes, while Bitcoin trades exhibit a consistent pattern of larger trades being double the size of smaller ones. #Update #Crypto $ETH $BTC
Kalshi Parlay Maker Fee Hits $26M
Kalshi’s parlay maker fees generated $26M in four weeks, now exceeding $1M daily on weekends. The new fee structure is not reflected in the July 7 PDF schedule. #Update #Crypto
Blockchain Reveals Polymarket Users to Police
Police booked 26 Polymarket users in Korea for gambling, using blockchain analysis to identify traders; 18 referred to prosecutors. Investigation ongoing. #Update #Legal
Kalshi Surges to $40B Volume Milestone
Kalshi’s 30-day volume reached $14.1B, dominating 82% of the US prediction market. The Senate blocked the CLARITY Act, impacting future market legislation. #Update #Legal
NFL Totals Win Kalshi Surges Ahead
Kalshi’s Week 1 NFL implied vig at 4.32% beats Fanduel and Draftkings, but loses on moneylines; records $2.433B in daily trades. #Update #Crypto
CLARITY Act Requires 60 Votes Today
The CLARITY Act needs 60 Senate votes today; Republicans require support from at least seven Democrats. Kalshi traders see a 93% chance of a vote, while Polymarket gives it a 20% chance of becoming law by 2026. #Update #Legal
Bitcoin Eyes 64% Chance of $80K Surge
Bitcoin’s Polymarket $80K chance drops to 64%, down 30% since Sept. 9, after hitting $79,500 today. Intraday high missed target by $495. #Update #Crypto $BTC
Sydney Sweeney Joins Novig Equity Surge
Sydney Sweeney joins @Novig as a strategic partner and equity holder. Novig’s ad campaign, excluding war, death, and politics contracts, goes viral. #Update #Sports