The Commodity Futures Trading Commission (CFTC) has issued an emergency order requiring prediction market Kalshi to continue operations despite a lawsuit from New York accusing it of illegal gambling. This federal intervention escalates a jurisdictional battle over whether prediction markets are regulated as derivatives under federal law or as gambling under state law. New York seeks to halt Kalshi's event contracts and impose heavy fines, while the CFTC argues that Kalshi operates as a national derivatives exchange. The dispute highlights growing tensions between federal regulators and states, with courts now facing a key decision on regulatory authority over these markets.
Strategy (formerly MicroStrategy) stock has dropped over 56% in the past year due to Bitcoin's price decline and large unrealized losses on its 846,000 BTC holdings. Despite this, Benchmark's analyst Mark Palmer sets a bullish $435 price target, impl...
Circle Internet's stock surged 14% after its president urged U.S. lawmakers to fully implement the GENIUS Act, which would regulate stablecoins like USDC, benefiting Circle with its strong regulatory standing. Meanwhile, a consortium of 21 major bank...
Coinbase, despite holding its highest global crypto trading volume share, trades 51% below its 52-week peak due to low crypto volatility impacting trading fees. The stock closed at $188.12, with analysts predicting modest upside, but a model suggests...
