US Senate bans itself from betting on prediction markets
US Senate unanimously banned members and staff from using prediction markets, citing insider trading risks. The resolution followed a special forces soldier's alleged use of classified information to bet on Polymarket regarding Venezuela operations. Platforms Polymarket and Kalshi supported the ban. House may introduce similar legislation, addressing growing concerns over politicians exploiting sensitive information for financial gain.
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U.S. senators won't be weighing in on prediction markets bets after banning themselves
U.S. Senate unanimously banned members and staff from betting on prediction markets, citing conflict-of-interest concerns. The restriction takes effect immediately and prohibits senators from wagering on platforms like Polymarket. Leading prediction market operators support the move, though the platforms remain largely unregulated. No direct India angle, but regulatory clarity affects global crypto adoption trends investors monitor.
Crypto market structure bill nears May push as ethics disputes and Trump ties cloud path forward
U.S. crypto market structure legislation could face a Senate Banking Committee markup in mid-May, but unresolved disputes threaten progress. Key issues include stablecoin rewards, ethics provisions, and DeFi concerns—complicated further by Trump's substantial crypto holdings drawing Democratic opposition. Passage odds remain low at 15-50%, dependent on resolving regulatory jurisdiction between CFTC and SEC while addressing political conflicts of interest.
Coinbase’s ‘CUSHY’ stablecoin fund to launch tokenized share class via Superstate in Q2
The Coinbase Stablecoin Yield Fund aims to generate yield by lending stablecoins and private credit investment opportunities....