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Kalshi Supports Formation of Prediction Market Lobbying Group, Former Trump Administration Official Appointed as Strategic Advisor
prediction market platform Kalshi has announced support for the establishment of a new prediction market lobbying organization, Americans for Fair Markets, and has appointed Taylor Budowich, former White House Deputy Chief of Staff under the Trump administration, as a strategic advisor. The organization will confront the sports betting and casino industries, which it alleges are "trying to maintain their monopoly and spread misinformation about prediction markets to policymakers."According to reports, Americans for Fair Markets will push for federal-level regulatory policy for prediction markets and launch paid advocacy campaigns to counter what it calls "false narratives" about the industry. The organization will also join a broader industry lobbying camp, including the Coalition for Prediction Markets, which was founded in December 2025 with support from Coinbase, Crypto.com, and Robinhood.On the same day, the U.S. House of Representatives launched an investigation into Kalshi and its main competitor, Polymarket, focusing on how the platforms handle insider trading issues. As prediction markets face increased scrutiny in the United States and globally, related regulatory controversies continue to escalate.Kalshi stated that the new organization will support the U.S. Commodity Futures Trading Commission’s (CFTC) regulation of prediction markets and will advocate for KYC requirements, a ban on insider trading, and restrictions on markets related to violence and terrorism under a federal regulatory framework. John Bivona, Head of Government Relations at Kalshi, said: "We will not be outspent or out-organized by established interests trying to protect their monopoly." (Cointelegraph)
CFTC Staff Purged After Questioning Trump-Linked Crypto Firms
OdailyOdaily Planet Daily News Some career officials at the U.S. Commodity Futures Trading Commission (CFTC) were purged after raising compliance concerns about Polymarket, Crypto.com, and Gemini Titan, all of which are alleged to have business ties to the Trump family.The report states that then-acting CFTC Chairman Caroline Pham and Senior Legal Advisor Brigitte Weyls intervened in the relevant review process, helping these companies obtain approvals or avoid further investigations. The two later joined MoonPay and Gemini Titan, respectively.It is understood that the officials in question had previously expressed concerns that Crypto.com was not treating small retail investors fairly, that Polymarket's anti-fraud mechanisms were insufficient, and that Gemini Titan had not completed the review required for its launch.Furthermore, the report notes that during Trump's second term, the CFTC has dropped at least five crypto investigations and has only made public two enforcement cases involving digital assets, both targeting individual operators. In contrast, there were over 80 such cases during the Biden administration. (The New York Times)
Multiple CFTC officials who questioned prediction market platforms suspended and marginalized
Odaily Odaily報道， multiple senior officials at the U.S. Commodity Futures Trading Commission (CFTC) who had raised compliance concerns regarding prediction market platforms were subsequently suspended, subjected to internal investigations, and ultimately forced to leave their positions. The report states that these officials had expressed concerns about the following companies: Polymarket lacking adequate anti-fraud mechanisms; Crypto.com not treating small bettors fairly; and a Gemini-affiliated company having not yet completed necessary regulatory reviews.The investigation noted that all the aforementioned companies are believed to have business ties with the Trump family. Sources said that the then-acting CFTC Chair Caroline Pham and her senior advisor intervened to help these companies secure regulatory approvals.As of the end of 2025, two officials who raised the questions were placed on administrative suspension and subjected to internal investigations, while three other officials responsible for crypto enforcement faced similar treatment, none of whom were informed of the specific reasons. The report suggests this has created a signal within the CFTC to "avoid creating trouble for the relevant industry."The CFTC significantly scaled back crypto enforcement during the Trump era: the agency initiated over 80 crypto enforcement actions during the Biden administration, but only two during the Trump administration, both targeting individual operators rather than large corporations. Furthermore, Caroline Pham left the CFTC to join MoonPay, which has a partnership with Polymarket; her former senior advisor, Brigitte Weyls, joined Gemini Titan as General Counsel. The current CFTC Chair, Michael Selig, previously worked as a corporate lawyer for several crypto companies. (Cointelegraph)
Trump Media & Technology Group Scales Back Prediction Market Plans, "Truth Predict" May Shift from Trading Platform to Marketing Partnership Model
Trump Media & Technology Group is significantly adjusting its strategy for the prediction market product "Truth Predict." The project, originally planned to launch full trading functionality in partnership with Crypto.com, may now only materialize as a marketing and promotional collaboration, with a notable contraction in the scale of its features.According to the latest regulatory filings, the project is still under development. However, the initial phase will be limited to a promotional partnership with prediction market platform OG.com, rather than embedding trading functions directly within Truth Social. The market's initial vision of an integrated "social + prediction market trading" model appears to be diminished.Earlier plans indicated that Truth Predict intended to allow users to convert platform credits into crypto assets and participate in trading events related to sports, inflation, and elections. However, the newly disclosed structure leans more towards an "external platform traffic-redirecting partnership," with specific commercial mechanisms yet to be clarified. Meanwhile, the prediction market industry is experiencing rapid expansion alongside regulatory conflicts. Platforms like Kalshi and Polymarket continue to expand their sports and event contract businesses, but are also facing jurisdictional disputes between state-level gambling regulators and federal authorities.Analysts suggest that the strategic downsizing of Truth Predict reflects the increasing uncertainty surrounding compliance structures, product forms, and regulatory boundaries for prediction markets. Particularly against the backdrop of an as-yet-unified U.S. regulatory system, related products are trending towards "asset-light cooperation" models rather than direct financial integration into social platforms. (Wired)
Crypto.com receives UAE Stored Value Facility license, enabling crypto asset payments for government service fees
Crypto.com has announced that its UAE entity, Foris DAX Middle East FZE, has obtained a Stored Value Facility (SVF) license from the Central Bank of the UAE, becoming the first Virtual Asset Service Provider (VASP) in the region to receive this license.With this license, Crypto.com will officially launch a partnership with the Dubai Department of Finance, allowing UAE residents to use crypto assets to pay for government service fees. Related fund settlements will be conducted in UAE dirhams or dirham-pegged stablecoins approved by the Central Bank of the UAE.Furthermore, upon obtaining regulatory approval, Crypto.com also plans to leverage this license to advance the integration of crypto payments with Emirates Airlines and Dubai Duty Free.
CFTC Sues Wisconsin to Defend Regulatory Authority Over Prediction Markets
Odaily Odaily Odaily The U.S. Commodity Futures Trading Commission (CFTC) on Tuesday sued the state of Wisconsin in an effort to uphold its regulatory authority after the state filed lawsuits against multiple prediction market platforms. In a statement, the CFTC said the lawsuit was filed in response to Wisconsin's legal actions against five CFTC-regulated prediction market operators: Kalshi, Polymarket, Crypto.com, Robinhood, and Coinbase. CFTC Chairman Michael Selig stated that states cannot circumvent clear congressional directives, and the agency will take legal action if they interfere with the implementation of federal laws regulating financial markets. This marks the fifth such lawsuit the CFTC has initiated against a U.S. state, following previous actions against New York, Arizona, Connecticut, and Illinois. Wisconsin had previously argued that prediction market contracts related to sporting events constitute illegal gambling and must obtain a state gambling license. The CFTC, jointly with the U.S. Department of Justice's Civil Division, filed a complaint in Wisconsin federal court, asserting its exclusive jurisdiction over prediction market event contracts operating as designated contract markets. The defendants include Wisconsin Governor Anthony Evers, state Attorney General Josh Kaul, and the state's gambling division.
Crypto.com Integrates with TradingView as Official Broker
Crypto.com Exchange has officially integrated with TradingView and become an official broker. Eligible retail and institutional users can execute trades directly from TradingView charts, eliminating the need to switch between analysis and trading interfaces. This integration covers not only cryptocurrencies but also a diversified range of assets including stocks, commodities, pre-IPO perpetual contracts, and tokenized real-world assets.Eric Anziani, President and COO of Crypto.com, stated that this integration brings together two powerful platforms, enabling traders to transition instantly from analysis to execution, accessing deep liquidity and real-time market data directly from the charts. (financefeeds)
Kalshi Supports Formation of Prediction Market Lobbying Group, Former Trump Administration Official Appointed as Strategic Advisor
prediction market platform Kalshi has announced support for the establishment of a new prediction market lobbying organization, Americans for Fair Markets, and has appointed Taylor Budowich, former White House Deputy Chief of Staff under the Trump administration, as a strategic advisor. The organization will confront the sports betting and casino industries, which it alleges are "trying to maintain their monopoly and spread misinformation about prediction markets to policymakers."According to reports, Americans for Fair Markets will push for federal-level regulatory policy for prediction markets and launch paid advocacy campaigns to counter what it calls "false narratives" about the industry. The organization will also join a broader industry lobbying camp, including the Coalition for Prediction Markets, which was founded in December 2025 with support from Coinbase, Crypto.com, and Robinhood.On the same day, the U.S. House of Representatives launched an investigation into Kalshi and its main competitor, Polymarket, focusing on how the platforms handle insider trading issues. As prediction markets face increased scrutiny in the United States and globally, related regulatory controversies continue to escalate.Kalshi stated that the new organization will support the U.S. Commodity Futures Trading Commission’s (CFTC) regulation of prediction markets and will advocate for KYC requirements, a ban on insider trading, and restrictions on markets related to violence and terrorism under a federal regulatory framework. John Bivona, Head of Government Relations at Kalshi, said: "We will not be outspent or out-organized by established interests trying to protect their monopoly." (Cointelegraph)
Revolut Launches First Physical Crypto Card with Dogecoin Theme
fintech company Revolut has announced the launch of its first physical crypto debit card, featuring a Dogecoin theme and an LED display that lights up when users tap to pay.The card is usable at merchants that accept Visa and Mastercard, and will initially be rolled out in the UK and the European Economic Area.This launch comes amid sustained growth in crypto card usage. Platforms such as Crypto.com, Coinbase, and Binance are all expanding their crypto card services, while Gemini also regards its credit card business as a key source of revenue growth. Data shows that daily transaction volumes for crypto cards have repeatedly exceeded 100,000 in recent times, indicating that payment scenarios within the industry are continuing to expand.
Crypto.com receives UAE Stored Value Facility license, enabling crypto asset payments for government service fees
Crypto.com has announced that its UAE entity, Foris DAX Middle East FZE, has obtained a Stored Value Facility (SVF) license from the Central Bank of the UAE, becoming the first Virtual Asset Service Provider (VASP) in the region to receive this license.With this license, Crypto.com will officially launch a partnership with the Dubai Department of Finance, allowing UAE residents to use crypto assets to pay for government service fees. Related fund settlements will be conducted in UAE dirhams or dirham-pegged stablecoins approved by the Central Bank of the UAE.Furthermore, upon obtaining regulatory approval, Crypto.com also plans to leverage this license to advance the integration of crypto payments with Emirates Airlines and Dubai Duty Free.
Wisconsin Sues Kalshi, Robinhood, Coinbase, and Others Alleging Illegal Sports Betting
on April 23, Wisconsin Attorney General Josh Kaul filed a lawsuit in Dane County against Kalshi, Robinhood, Coinbase, Polymarket, and Crypto.com, accusing these fintech and crypto platforms of facilitating illegal sports betting through event contracts. Josh Kaul is requesting the court to issue preliminary and permanent injunctions, declaring that the platforms' operations violate Wisconsin's gambling laws and constitute a public nuisance. The complaint states that repackaging wagers as event contracts does not change their fundamental nature, with approximately 90% of Kalshi's business coming from sports-related contracts, generating annualized revenue exceeding $1 billion. Robinhood and Coinbase are also implicated in the case, routing user orders to Kalshi's markets through distribution agreements. Regulators in Nevada, Arizona, and Tennessee have also taken similar legal actions or issued cease-and-desist orders.
Crypto.com Partners with High Roller Technologies to Enter the Prediction Markets Space
According to Cointelegraph, Crypto.com has reached a definitive agreement with online casino company High Roller Technologies to officially enter the prediction markets sector. This partnership will enable Crypto.com to offer event-based prediction market services to U.S. users via the CFTC-registered CDNA exchange. High Roller stated that the collaboration establishes a strong foundation for both parties in the prediction markets space. Analysts project that the prediction markets sector could reach $1 trillion by 2030, driven by growing demand for contracts tied to economic, business, and political events. Following the announcement, High Roller’s stock (ROLR) on the New York Stock Exchange doubled to $10.77. Prediction markets continue to face legal challenges in multiple jurisdictions, while relevant authorities are actively advancing regulatory compliance efforts.
Related news
Crypto.com Integrates with TradingView as Official Broker
Crypto.com Exchange has officially integrated with TradingView and become an official broker. Eligible retail and institutional users can execute trades directly from TradingView charts, eliminating the need to switch between analysis and trading interfaces. This integration covers not only cryptocurrencies but also a diversified range of assets including stocks, commodities, pre-IPO perpetual contracts, and tokenized real-world assets.Eric Anziani, President and COO of Crypto.com, stated that this integration brings together two powerful platforms, enabling traders to transition instantly from analysis to execution, accessing deep liquidity and real-time market data directly from the charts. (financefeeds)
Kalshi Supports Formation of Prediction Market Lobbying Group, Former Trump Administration Official Appointed as Strategic Advisor
prediction market platform Kalshi has announced support for the establishment of a new prediction market lobbying organization, Americans for Fair Markets, and has appointed Taylor Budowich, former White House Deputy Chief of Staff under the Trump administration, as a strategic advisor. The organization will confront the sports betting and casino industries, which it alleges are "trying to maintain their monopoly and spread misinformation about prediction markets to policymakers."According to reports, Americans for Fair Markets will push for federal-level regulatory policy for prediction markets and launch paid advocacy campaigns to counter what it calls "false narratives" about the industry. The organization will also join a broader industry lobbying camp, including the Coalition for Prediction Markets, which was founded in December 2025 with support from Coinbase, Crypto.com, and Robinhood.On the same day, the U.S. House of Representatives launched an investigation into Kalshi and its main competitor, Polymarket, focusing on how the platforms handle insider trading issues. As prediction markets face increased scrutiny in the United States and globally, related regulatory controversies continue to escalate.Kalshi stated that the new organization will support the U.S. Commodity Futures Trading Commission’s (CFTC) regulation of prediction markets and will advocate for KYC requirements, a ban on insider trading, and restrictions on markets related to violence and terrorism under a federal regulatory framework. John Bivona, Head of Government Relations at Kalshi, said: "We will not be outspent or out-organized by established interests trying to protect their monopoly." (Cointelegraph)
CFTC Staff Purged After Questioning Trump-Linked Crypto Firms
OdailyOdaily Planet Daily News Some career officials at the U.S. Commodity Futures Trading Commission (CFTC) were purged after raising compliance concerns about Polymarket, Crypto.com, and Gemini Titan, all of which are alleged to have business ties to the Trump family.The report states that then-acting CFTC Chairman Caroline Pham and Senior Legal Advisor Brigitte Weyls intervened in the relevant review process, helping these companies obtain approvals or avoid further investigations. The two later joined MoonPay and Gemini Titan, respectively.It is understood that the officials in question had previously expressed concerns that Crypto.com was not treating small retail investors fairly, that Polymarket's anti-fraud mechanisms were insufficient, and that Gemini Titan had not completed the review required for its launch.Furthermore, the report notes that during Trump's second term, the CFTC has dropped at least five crypto investigations and has only made public two enforcement cases involving digital assets, both targeting individual operators. In contrast, there were over 80 such cases during the Biden administration. (The New York Times)
Multiple CFTC officials who questioned prediction market platforms suspended and marginalized
Odaily Odaily報道， multiple senior officials at the U.S. Commodity Futures Trading Commission (CFTC) who had raised compliance concerns regarding prediction market platforms were subsequently suspended, subjected to internal investigations, and ultimately forced to leave their positions. The report states that these officials had expressed concerns about the following companies: Polymarket lacking adequate anti-fraud mechanisms; Crypto.com not treating small bettors fairly; and a Gemini-affiliated company having not yet completed necessary regulatory reviews.The investigation noted that all the aforementioned companies are believed to have business ties with the Trump family. Sources said that the then-acting CFTC Chair Caroline Pham and her senior advisor intervened to help these companies secure regulatory approvals.As of the end of 2025, two officials who raised the questions were placed on administrative suspension and subjected to internal investigations, while three other officials responsible for crypto enforcement faced similar treatment, none of whom were informed of the specific reasons. The report suggests this has created a signal within the CFTC to "avoid creating trouble for the relevant industry."The CFTC significantly scaled back crypto enforcement during the Trump era: the agency initiated over 80 crypto enforcement actions during the Biden administration, but only two during the Trump administration, both targeting individual operators rather than large corporations. Furthermore, Caroline Pham left the CFTC to join MoonPay, which has a partnership with Polymarket; her former senior advisor, Brigitte Weyls, joined Gemini Titan as General Counsel. The current CFTC Chair, Michael Selig, previously worked as a corporate lawyer for several crypto companies. (Cointelegraph)
Trump Media deposits 2,650 BTC into Crypto.com, bringing its holdings to 6,889 BTC worth $533 million
according to Onchain Lens monitoring, Trump Media deposited 2,650 BTC, worth $204.93 million, into Crypto.com. It currently holds 6,889 BTC, valued at $532.78 million.
Revolut Launches First Physical Crypto Card with Dogecoin Theme
fintech company Revolut has announced the launch of its first physical crypto debit card, featuring a Dogecoin theme and an LED display that lights up when users tap to pay.The card is usable at merchants that accept Visa and Mastercard, and will initially be rolled out in the UK and the European Economic Area.This launch comes amid sustained growth in crypto card usage. Platforms such as Crypto.com, Coinbase, and Binance are all expanding their crypto card services, while Gemini also regards its credit card business as a key source of revenue growth. Data shows that daily transaction volumes for crypto cards have repeatedly exceeded 100,000 in recent times, indicating that payment scenarios within the industry are continuing to expand.