News linked to this event type.
the city of Baltimore and Mayor Brendan Scott have filed a lawsuit against Kalshi and Polymarket, accusing the two companies of violating local gambling laws and regulations on deceptive business practices. The Mayor's office stated on Thursday that the two companies operate "illegal, unlicensed sports betting platforms" and mislead users about the legality and regulatory status of their products. The city of Baltimore argues that Kalshi and Polymarket describe event contracts as trading, but the transactions in question are essentially illegal gambling prohibited under state law. The complaint against Kalshi also names Robinhood, Webull, and Coinbase as partners on its prediction market platform, alleging that these companies promote sports contracts as products that can be legally purchased and traded in Maryland. The U.S. Commodity Futures Trading Commission (CFTC) and the companies involved maintain that prediction market event contracts fall under the category of "swaps" within their regulatory scope. Polymarket stated that prediction markets operated on CFTC-registered exchanges are governed by federal law and should not be subject to state and local regulations. (Cointelegraph)
The Baltimore City government has accused platforms such as Kalshi of violating gambling laws, involving partners such as Coinbase. The focus of the case is the conflict between local government enforcement authority and platform operational compliance.
Odaily News: Cryptocurrency market maker Wintermute plans to invest approximately $1 billion over the next five years in AI infrastructure and high-frequency trading systems, while expanding into equities, commodities, foreign exchange, and prediction markets. The company aims to increase non-crypto revenue to more than 50% of total revenue by the end of 2027. Wintermute founder and CEO Evgeny Gaevoy said the company plans to fund the investment with retained earnings. Wintermute's average daily trading volume this year is around $10 billion, down from approximately $15 billion last year; non-crypto businesses currently account for about 10% of revenue. The investment projects will cover computing power, storage, network, and data center infrastructure, supporting quantitative strategies that rely on large-scale datasets and models requiring continuous training and retraining. Wintermute has already expanded into exchange-traded funds, real-world asset perpetual futures, and prediction markets. Wintermute's U.S. affiliate recently completed its broker-dealer registration, allowing it to trade equities and stock options for its own account and serve as an authorized participant for exchange-traded products. The registration provides a pathway for the company to enter regulated securities markets. (Bitcoin.com News)
Odaily Odaily News: Fox Business crypto reporter posted on X platform, stating that according to a source familiar with the matter, the U.S. Securities and Exchange Commission's tokenization innovation exemption will be further delayed, and relevant details will remain undisclosed for now. The source noted that one possible reason is that the tokenization provisions in Section 10505 of the Clarity Act have been under repeated consultation among stakeholders, and any action taken by the SEC through the innovation exemption could affect the compromise plan for those provisions. This means that until the path forward for the Clarity Act becomes clearer, the exemption may remain on hold. The SEC still plans to hold a public meeting at 10 a.m. tomorrow, during which it intends to propose new rules and exemptions for fundraising transactions involving crypto assets, namely Regulation Crypto Assets.
The U.S. Commodity Futures Trading Commission announced that it will hold an Innovation Advisory Committee meeting on August 20 to explore feasible solutions for advancing cryptocurrency regulation against the backdrop of Congress not passing the CLARITY Act.
Odaily News According to a report by blockchain compliance analysis firm TRM Labs, following the full implementation of the EU's Markets in Crypto-Assets Regulation (MiCA), only 281 of the original 1,343 crypto asset service providers applied for and received operating authorization, accounting for roughly one-fifth. Among the more than 1,800 crypto organizations previously registered in Poland, none obtained MiCA authorization; in Lithuania, only 8 of more than 400 received approval. Germany's regulator BaFin authorized 55 entities, while French and Dutch regulators each licensed 29. TRM Labs' assessments show that among firms that failed to obtain authorization and exited the market, 12% were rated as high-risk or severe-risk, compared to 2% among authorized firms. The former sent $5 billion to sanctioned counterparties, while the latter sent $1.7 billion. The report notes that unauthorized firms' sanctions exposure is approximately four times that of authorized firms. MiCA has also raised concerns about restricted access to stablecoins in Europe, and the EU is planning a comprehensive framework revision to address stablecoin issues and bring tokenized assets under regulatory scope. (Bitcoin.com News)
Odaily News: Bitcoin News posted on X platform stating that MSCI has proposed new rules targeting "non-operating companies." According to a simulation conducted by MSCI in May 2026, Strategy would be removed from its global investable market index. Strategy, along with Metaplanet and Yellow Cake, are the three companies listed in the simulated removal from the MSCI ACWI IMI. The proposed methodology would screen companies based on their operating assets, expenses and cash flows, non-operating fair value changes, and the extent to which they rely on accumulated assets raised through financing. The final criterion would directly target Strategy's model of accumulating Bitcoin through issuing equity and debt. The rules have not yet been finalized, with the comment period ending on September 30. MSCI is expected to make a decision by October 16, and related adjustments could be implemented during the November 2026 index review.
Odaily News: Digital asset company Tether has announced the completion of a full independent audit by KPMG U.S. of the financial statements of Tether International, S.A. de C.V. for the year ended December 31, 2025. KPMG U.S. issued an unqualified audit opinion. The audit covered transactions, systems, ownership records, valuations, counterparties, and financial statement evidence, and also examined the balance sheet, income statement, statement of changes in equity, and cash flow statement. KPMG U.S. also physically counted and inspected every single gold bar held by Tether. Tether CFO Simon McWilliams said that the 2025 audited financial statements show that its reserve assets exceed its liabilities by $6.814 billion. Tether stated that this audit is an important step in fulfilling its long-term commitment to financial transparency. (Tether News)
Odaily News – The U.S. Commodity Futures Trading Commission (CFTC) has released the agenda for the first meeting of its Innovation Advisory Committee (IAC). The committee will convene its inaugural session on August 20, focusing on regulatory topics in emerging areas such as crypto assets, artificial intelligence, and prediction markets.CFTC Chairman Michael S. Selig stated that the United States has long been a global hub for financial innovation, and expressed hope that through dialogue with innovative entrepreneurs, researchers, and industry builders, the committee can explore how emerging technologies and financial products can drive market development, and jointly chart the "new frontier of finance."The meeting will be livestreamed via the CFTC's official website. Committee members and participants will discuss topics including digital asset regulatory frameworks, the impact of AI technology on financial markets, and the development of prediction markets.The public may submit comments before August 27, which will be published on Regulations.gov, the U.S. federal regulations website. The CFTC noted that the meeting agenda may be adjusted based on the committee's subsequent priorities.The Innovation Advisory Committee aims to provide the CFTC with recommendations on emerging technologies, financial products, and market innovation trends. Its discussions cover critical areas—including digital assets and artificial intelligence—that could shape the future structure of financial markets.
Odaily News: Sui announced on the X platform that Hadron by Tether is now live, providing institutions with the infrastructure to issue tokenized stocks, bonds, commodities, and other assets. The infrastructure is designed with compliance at its core and built for scalable growth.
: Goldman Sachs analyst Robert Kaplan said the Fed's decision not to raise interest rates in July was "absolutely" correct, urging policymakers to keep an open mind ahead of September, citing the complex factors affecting inflation and warning that rigid forward guidance could be counterproductive. Kaplan noted: "If we see meaningful improvement, I might be willing to continue holding, but I want to make full use of every moment before September to assess the situation, avoiding rigidity or preconceived notions."Kaplan believes the forces currently at play include: inflationary pressures from AI infrastructure build-out, tariffs, labor constraints, and surging oil prices; meanwhile, AI applications are working in the opposite direction, accelerating the trend of disinflation. He suggested that Warsh should use his speech at this month's Jackson Hole symposium to briefly explain the Fed's reasoning for holding steady in July, rather than delivering a purely "philosophical" address. Kaplan said he is more concerned about the long end of U.S. Treasury yields than the federal funds rate itself. He noted that the rebound in long-term government bond yields globally reflects structural supply-demand imbalances driven by persistent wide fiscal deficits, rather than Fed policy. (Jin Shi)
Odaily News, according to MSX.COM data, Securitize (SECZ) saw its intraday drop on US stocks widen to as much as 25%, with the stock price last reported at $6.03.It is reported that on July 2, Securitize opened at $12.45 on its first day of listing and closed at $12.30. The current stock price has been halved compared to its listing price.This decline is mainly attributed to Securitize's weaker-than-expected Q2 earnings report. For related analysis of the report: "Securitize's first post-listing earnings report disappoints—can the 'compliant tokenization' narrative still sell?"
According to Bullish's official announcement, Bullish (NYSE: BLSH) released its financial report for the second quarter of 2026. Q2 digital asset sales reached $32.6 billion, with a net loss of $280 million; adjusted revenue was $92.6 million, and adjusted EBITDA was $29.5 million; subscription and services revenue reached a record $62.7 million, up 62% year-over-year. In addition, the Equiniti acquisition is expected to be completed in early 2027; the company has received approval from the GFSC, becoming one of the first fully regulated venues to offer issuer-supported secondary trading of tokenized securities. On the same day, Bullish tokenized stocks were traded on the Bullish exchange for the first time, and settled in USD stablecoins.
Odaily News: The Financial Services Commission of South Korea has announced that it will further raise the investor threshold for single-stock leveraged ETFs and ETNs, with the new rules set to take effect on August 19. In addition to the existing 30 million KRW base margin and 3 hours of prior education, first-time individual investors in leveraged products on single domestic and foreign stocks will also be required to complete simulated trading.In addition, the management standards for deviation rates of ETFs and ETNs will also be comprehensively tightened. The closing deviation rate management range for domestic ETFs and ETNs will be tightened from 3% to 2%, while for overseas products it will be tightened from 6% to 5%. For deviation rates calculated as negative values, they will be computed based on their absolute values. Under the new rules, if the deviation rate exceeds twice the management range, a screening and designation notice will be triggered; if the deviation rate again exceeds twice the range within 10 trading days from the date of the designation notice, or exceeds the standard for two consecutive trading days, the product may be designated as an investment caution item, after which a call auction will be conducted for 3 trading days.The Financial Services Commission explained that the tightened regulation is due to the negative compounding effect of single-stock leverage products, where investors may incur losses even if the underlying asset remains flat, and it hopes investors will fully understand the product structure and risks before making actual investments. (Yonhap)
Odaily Planet Daily: Crypto asset trading platform Bullish has announced its financial results for Q2 2026. The company stated that as global securities markets gradually migrate to public blockchains, Bullish is planning to build a comprehensive issuer-supported tokenized securities service system covering issuance, listing, trading, and tracking.Bullish CEO Tom Farley stated that the global securities market, valued at nearly $300 trillion, is transitioning to public blockchains, and Bullish aims to work with issuers to drive this process. Upon completion of the proposed acquisition of Equiniti, the company will form an integrated platform covering tokenized securities issuance, listing, trading, and tracking.Financial data shows that Bullish's Q2 digital asset sales reached $32.6 billion, down from $58.6 billion in the same period last year; the net loss was $280 million, compared to a net profit of $108.3 million in the same period last year, corresponding to a diluted loss per share of $1.78.However, the company's core business performance improved. Q2 adjusted revenue (non-IFRS) reached $92.6 million, up 62% year-over-year from $57 million in the same period last year; among which subscription, services, and other revenue hit a record $62.7 million. Adjusted trading revenue was $29.9 million, up 24% year-over-year; adjusted EBITDA was $29.5 million, compared to $8.1 million in the same period last year; adjusted net profit was $14.3 million, compared to a loss of $6 million in the same period last year.In terms of business progress, Bullish stated that the acquisition of UK fintech company Equiniti is progressing and is expected to be completed in early 2027, subject to customary conditions including regulatory approvals. Additionally, Bullish's CoinDesk indices continue to gain institutional adoption. Morgan Stanley has launched Bitcoin, Ethereum, and Solana-related trading products based on CoinDesk benchmark indices, attracting over $400 million in inflows during Q2.On the regulatory front, Bullish has received approval from the Gibraltar Financial Services Commission (GFSC) to provide secondary trading services for tokenized securities, becoming one of the first regulated platforms to offer issuer-supported tokenized securities trading.The company has also raised and refined its full-year 2026 guidance, projecting subscription, services, and other revenue (non-IFRS) of $225 million to $245 million, adjusted operating expenses of $225 million to $230 million, and financing costs of $52 million to $60 million. (Globenewswire)
PPP Prediction Market Tool monitoring shows that on Polymarket, the probability of an "Iran-Oman Strait of Hormuz agreement before the end of August" has dropped to 36%, down 21% in 24 hours; the probability of an Iran-Oman Strait of Hormuz agreement before the end of September has dropped to 66%, down 14% in 24 hours.The event rules state: If Oman and Iran announce a diplomatic agreement regarding traffic in the Strait of Hormuz before the specified date (11:59 PM ET), the outcome will be judged as "Yes." A diplomatic agreement refers to a formal agreement, treaty, deal, or substantially similar diplomatic instrument between Oman and Iran that aligns on relevant actions, policies, obligations, or commitments. Credible sources include official information from the Omani and Iranian governments, as well as a consensus of credible reports.Iran's Supreme National Security Council previously stated that if Iran and Oman reach an agreement on transit through the Strait of Hormuz, that agreement will be handled separately from the issue of the strait's closure. As long as the U.S. does not change its behavior or accept Iran's conditions, the Strait of Hormuz will not reopen. The U.S. must end the war, release frozen Iranian funds, and bring an end to all conflicts across the region, including in Lebanon and Gaza. Additionally, other conditions communicated to Washington via intermediaries must also be met.Join the PPP Signal Push Community to stay one step ahead and seize the initiative.
According to The Block, the Blockchain Association filed an amicus curiae brief on August 13 supporting Custodia Bank's appeal to the U.S. Supreme Court, requesting a review of the legality of the Federal Reserve Bank's refusal of its master account application. The Blockchain Association pointed out that this case concerns whether legitimate digital asset enterprises can compete in a fair environment, and warned that the lower court ruling provides a precedent for federal regulators "to debank unpopular industries in the future without the intervention of state regulators." Custodia Bank was founded by Wall Street veteran Caitlin Long, applied for a Fed master account in October 2020, was rejected by the Federal Reserve Bank of Kansas City in January 2023 on the grounds that the crypto business model posed risks, subsequently lost twice in the district court and the Tenth Circuit Court of Appeals, and was denied rehearing by the full court in a 7 to 3 vote in March 2026. The Federal Reserve Bank of Kansas City must respond to the Supreme Court application by September 11.
According to Bitcoin.com, MP Gurinder Singh Josan and Lord Vaizey, Co-Chairs of the UK All-Party Parliamentary Group on Crypto and Digital Assets (APPG), wrote to the CEOs of major UK banks on August 11, requesting them to clarify whether they provide account services to crypto businesses, what restrictions are imposed on digital asset transactions, and whether the aforementioned policies will be adjusted with the implementation of the UK's new regulatory framework. The MPs pointed out that bank access may be the single biggest obstacle to the development of UK crypto and digital asset enterprises. If licensed crypto enterprises still cannot obtain basic banking services, the competitiveness objectives of the new regulatory regime will be difficult to achieve. Economic Secretary to the Treasury Lucy Rigby previously also stated that bank service restrictions should not be imposed on FCA-authorized crypto enterprises solely based on their industry nature. The deadline for submitting written evidence for this inquiry is August 31, and the APPG will make policy recommendations to the government based on this.
Odaily News: Andre Cronje, founder of DeFi platform Flying Tulip and creator of Fantom Network, stated that most DeFi protocols are no longer truly decentralized, with only a few niche areas still qualifying as DeFi. He believes DeFi has evolved into "on-chain finance" or "open finance." He pointed out that true DeFi should possess characteristics such as decentralization, immutability, and the absence of intermediaries, whereas the intermediaries in most current protocols have become corporations, taking on traditional financial institution roles such as decision-makers and risk committees. Cronje noted that this does not mean true DeFi has completely disappeared, as some protocols are still innovating. Data from DefiLlama shows that the total value locked (TVL) in DeFi has dropped from $167 billion in early October 2025 to $75 billion at the time of the original report over the past 10 months, a decline of more than half. In a working paper published in March, the European Central Bank (ECB) analyzed Aave, MakerDAO, Ampleforth, and Uniswap, finding that based on holding snapshots from November 2022 and May 2023, the top 100 addresses holding governance tokens in these protocols each controlled over 80% of the token supply. The ECB consequently questioned the level of decentralization of these DAOs and whether they should continue to be regarded as "fully decentralized" services exempt from the Markets in Crypto-Assets Regulation (MiCA). (Cointelegraph)
According to Cointelegraph, digital asset infrastructure provider Copper announced that its US subsidiary, Copper Markets (US) Inc., officially obtained SEC-registered broker-dealer status on August 7 and became a FINRA member, officially establishing a compliant market presence in the United States. The company will provide institutional clients with qualified custody, staking, financing, and over-the-counter trading services, while also opening its ClearLoop network, allowing institutions to pledge and transfer crypto assets and tokenized assets between counterparties as collateral.