| Mobile Web

Search results for Michael Selig

Crypto

NBA to provide official data to Kalshi, Polymarket, expanding prediction markets

The National Basketball Association has designated Kalshi and Polymarket as preferred prediction market exchanges and signed an information-sharing agreement with the U.S. Commodity Futures Trading Commission to strengthen integrity in basketball-related markets. The NBA will provide official game data and apply safeguards against insider trading. The deal grants rights to use NBA intellectual property in the United States. The move comes as legal disputes continue over whether federal commodities rules pre-empt state gambling laws.

Crypto

Kalshi seeks CFTC approval to relist derivatives based on GPU rental costs

Prediction market platform Kalshi has asked U.S. regulators to allow it to relist computing derivatives, Axios reported on Oct. 21. The product would let traders bet on future GPU rental costs. Kalshi was reported to have been ordered earlier this year by the Commerce Department to halt the product over national security concerns, which the department denied. Kalshi’s chief compliance officer said the firm submitted comments to the CFTC seeking approval.

Crypto

U.S. SEC, CFTC leadership vacuum drags on, could it aid Clarity Act?

The U.S. Securities and Exchange Commission has changed its quorum rules, making it easier to push through cryptocurrency-related regulations despite a shrinking number of commissioners. The SEC and the Commodity Futures Trading Commission are operating with 2 and 1 members, respectively, amid prolonged vacancies. With Congress stalled on the Clarity Act, both agencies are moving to refine oversight through rule changes, prompting concerns they are effectively substituting for legislation.