U.S. CFTC in talks with every major pro sports league on policing prediction markets
Chairman Michael Selig says the agency has already taken several states to court to prove that sports contracts aren’t just betting but that they’re derivatives.
Policy
Clarity Act, in the flesh, unveiled by U.S. Senate Banking Committee before hearing
The crypto market structure bill had already been making the industry rounds behind closed doors, but the lawmakers have released the text before their vote.
Policy at Consensus Miami: State of Crypto
This was a hectic week.
Sports betting should be regulated as a financial product, not gambling, aspiring prediction market provider says
Novig CEO Jacob Fortinsky said his company will transition to a federal Designated Contract Market framework this summer to launch in all 50 states, while 57 Maiden’s Adam Mastrelli said he was banned from two major sportsbooks within two months for being “sharp.”
Crypto industry cheers Senate Clarity Act markup date as market structure push resumes
The bill’s progress follows talks on jurisdiction, consumer/developer protections, and stablecoin rewards, with crypto firms backing a yield compromise.
Judge clears path for Aave to move $71 million in ETH linked to North Korea hack
Judge Margaret Garnett allowed frozen exploit funds on Arbitrum to move to Aave, but the legal freeze follows the assets as terrorism plaintiffs continue their claim.
Senate Banking Committee plans to hold key market structure hearing on Thursday
The Senate Banking Committee announced it would hold its markup hearing for the Clarity Act on March 14.
CFTC Chair Mike Selig argues for agency’s ‘exclusive regulatory authority’ in prediction markets fight: State of Crypto
Selig said states do not have the ability to police prediction market providers, echoing his agency’s stance as it pursues court cases to cement its authority.
Crypto Clarity bill has 30% chance of passing this year, Wintermute’s Hammond says
Wintermute’s head of policy Ron Hammond pegs chances at 30%, citing political friction, stalled negotiations and shifting timelines despite signs of progress.
Federal judge blocks Arizona from bringing criminal charges against Kalshi
Judge Michael Liburdi ordered Arizona not to bring any enforcement actions under state law against Kalshi, at least temporarily.