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Crypto

Prediction market platforms eye crypto perpetual futures market

Kalshi and Polymarket are seeking to enter the crypto perpetual futures market, CNBC reported on April 27. CNBC said expanded leveraged trading by prediction market platforms could change crypto trading methods in the United States and the competitive landscape among platforms. Perpetual futures have no expiry and can offer up to 100 times leverage. CoinGecko said they account for more than 70 percent of centralized exchange volume.

Crypto

New York state sues Coinbase, Gemini over alleged unlicensed prediction markets

New York state filed a lawsuit against cryptocurrency exchanges Coinbase and Gemini over prediction-market contracts. The state alleges the products, tied to sports, entertainment and elections, are unlicensed gambling that violates state law. Attorney General Letitia James said renaming gambling does not change its nature and cannot evade regulation. The complaint says the services functioned like bookmakers and allowed participation by users under 21.

Crypto

BTCC lists SpaceX-linked perpetual futures with up to 50 times leverage

Crypto exchange BTCC has launched a perpetual futures product linked to SpaceX pricing, listing the SPACEXUSDT contract in its tokenised stocks section with up to 50 times leverage. The move targets retail demand for exposure to major private companies. BTCC said early trading demand for traditional-market themed products has been strong and stressed SPACEXUSDT has sufficient liquidity. It is also running promotions, while warning that leverage can amplify both gains and losses.