Crypto

U.S. prediction market reshapes amid regulation, Kalshi takes 89 percent share

Kalshi, a federally regulated U.S. prediction market, has taken an estimated 89 percent share of trading volume, cementing its lead as the competitive landscape reshapes around regulatory status. Weekly market volume rose 4 percent, while Kalshi’s volume increased 6 percent, a Bank of America report showed. Polymarket held 7 percent and Crypto.com 4 percent, with Polymarket’s volume down 16 percent. Legal disputes and CFTC litigation could determine whether the market expands nationwide or fragments by state.

Crypto

White House says capping stablecoin yields would raise bank lending by only 0.02 percent

White House research found offering yields on stablecoins is unlikely to meaningfully damage bank lending or overall credit conditions. A new report by the Council of Economic Advisers said banning stablecoin yields would increase bank lending by about $2.1 billion from a baseline scenario, or roughly 0.02 percent of total loans, while creating net welfare costs for consumers. The council said most stablecoin reserves remain within the banking system.