Wisconsin joins prediction market fight, suing Kalshi, Coinbase, Polymarket, Robinhood and Crypto.com
Wisconsin has sued Kalshi, Coinbase, Polymarket, Robinhood and Crypto.com, claiming their prediction markets operate as unlicensed gambling rather than federally regulated financial instruments. The state argues "event contracts" are wagers under state law, citing the platforms' own sports-betting marketing. This intensifies a jurisdictional clash between states and the CFTC likely heading to the Supreme Court.
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U.S. arrests Army green beret for $400,000 Polymarket bets on Venezuela raid he was in
U.S. Army Special Forces Master Sergeant Gannon Ken Van Dyke arrested for placing $400,000 in Polymarket bets on Venezuela raid he participated in. He allegedly used classified information to trade on Polymarket contracts predicting the operation's timing and outcome, turning $33,000 invested into $400,000 profit. DOJ and CFTC pursue insider trading charges. Van Dyke attempted concealing winnings through cryptocurrency conversions and account deletion.
Aave rallies DeFi partners to contain fallout from $292 million KelpDAO hack
Aave coordinated a $292 million recovery effort with Lido, EtherFi, and founder Stani Kulechov after a KelpDAO exploit left the protocol with impaired rsETH collateral. The "DeFi United" initiative aims to prevent bad debt and forced liquidations across lending markets. Attackers minted unbacked tokens, borrowed $190 million in assets, and triggered a $10 billion deposit withdrawal.
Bitcoin rally is stalling as Japanese inflation adds to Iran war–driven market jitters
Bitcoin's rally stalled near $77,800 as Japanese inflation data and Iran war disruptions roiled markets. Rising Japan inflation sparked expectations of Bank of Japan rate hikes, potentially strengthening the yen and triggering risk-asset unwinding. Oil disruptions through the Strait of Hormuz complicate Fed rate-cut prospects, weighing on crypto sentiment globally and hitting Indian investors' portfolio exposure.