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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

Bitcoin\'s $80,000 rebound backed by $2.23 billion inflows, not short squeeze

Bitcoin’s rebound was supported by cash inflows of more than $2 billion rather than speculative leverage, according to the article. U.S.-listed spot bitcoin ETFs absorbed $2.23 billion during the recent surge without a single day of net outflows. Despite a spike in short liquidations, futures open interest fell and funding rates stayed near neutral. Analysts highlighted liquidity channels and rising stablecoin supply, while identifying $81,000 to $86,000 as the next key range.

Crypto

Trump family-backed World Liberty linked to Hong Kong AI platform offering sanctioned Chinese models, supports USD1 payments

World Liberty Financial, a crypto firm backed by U.S. President Donald Trump, has been linked to a Hong Kong AI platform that offers models from Chinese developers the U.S. government flags as security risks, stirring controversy. The platform supports payments in USD1, a dollar-pegged stablecoin issued by World Liberty. Critics say wider USD1 use could boost the firm and benefit the Trump family, while others cite security and data risks.