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Crypto

U.S. court says sports prediction markets are not financial products, should be regulated under gambling laws

A fast-growing U.S. prediction-market platform has hit a new phase in a federal-state regulatory clash after the Ninth U.S. Circuit Court of Appeals rejected Kalshi\'s request to block Nevada from applying its gambling laws. The court found Kalshi\'s sports event contracts were not financial “swaps” and could be regulated as gambling. The ruling conflicts with an April decision by the Third Circuit that treated the contracts as swaps under federal law.

Crypto

Coinbase to introduce TAS for institutions from May for XRP futures

Coinbase is adding a trade-at-settlement feature to XRP derivatives trading, allowing futures to be executed at an official settlement price rather than live market prices. It plans to introduce the function from May 1, filings submitted to the U.S. Commodity Futures Trading Commission showed. The feature will apply mainly to block trades and will cover nano XRP and standard XRP futures. Coinbase also cited bitcoin, ether, gold and crude oil.

Crypto

Fox News to use Kalshi prediction market data on air, excluding sports

Prediction market platform Kalshi will supply prediction market data to Fox Corporation for use across Fox News, Fox Business Network, Fox Weather and Fox One, The Block Crypto reported. Fox Sports is excluded. Kalshi will integrate the data into Fox broadcast and digital content and support real-time data visualisations on political, economic, weather and cultural issues. A Kalshi spokesperson said sports data was not included for now.