Prediction market platform Kalshi said it recorded $500 million in trading volume during the Masters golf tournament. A post on X showed trading across winner, player and side-bet markets for the event in Augusta, Georgia, and said weekend activity rose as funds flowed in from retail investors to hedge fund participants. The surge comes as prediction markets grow around sports events and face increased regulatory pressure and market surveillance.

Years of international sanctions and a sharp currency decline have turned Iran into a major player in the cryptocurrency market, the Wall Street Journal reported. Blockchain analytics firm Chainalysis estimated Iran’s crypto market at about $7.8 billion last year, with more than half of activity linked to the Islamic Revolutionary Guard Corps and related groups. The IRGC is reported to use crypto to obtain weapons and raw materials, while the central bank reportedly amassed tether.