News linked to both this project and an event.
Odaily Odaily, Robinhood has received final regulatory approval to acquire Canadian company WonderFi for $180 million. (Cointelegraph)
Canada’s investment industry regulator, CIRO, has approved Robinhood’s acquisition of digital asset products and services company WonderFi. WonderFi stated that the transaction will help Robinhood enhance its programmable financial products capabilities and expand Canadian users’ access to cryptocurrency trading. Originally scheduled for completion in the second half of last year, the acquisition has been extended to June 1, 2026, to allow Robinhood time to deploy its proprietary technology in Canada and complete regulatory approvals. WonderFi’s portfolio includes Bitbuy and Coinsquare, with operations spanning cryptocurrency trading, staking, and custody.
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)
According to PRNewswire, market analysis reports indicate that Coinbase and Kraken together account for 22% of all AI mentions across the cryptocurrency category—Coinbase accounts for 13%, and Kraken for 9%—holding a lead over other U.S. trading platforms by more than threefold. Gemini ranks third with 5.5%, Robinhood Crypto fourth with 5%, and BlackRock’s spot Bitcoin exchange-traded fund (ETF), IBIT, fifth with 4.5%, dominating queries related to “Bitcoin ETFs.” Additionally, hardware wallets are losing influence in AI responses: while Ledger and Trezor still dominate queries related to “cryptocurrency wallets,” AI increasingly recommends custodial solutions offered by regulated trading platforms when addressing questions about the “best way to store cryptocurrency assets.” (Note: “AI mentions” refers to how frequently an AI chatbot references a particular brand, product, or company when responding to user queries.)
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.
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.
According to CoinDesk, Wisconsin Attorney General Josh Kaul filed a lawsuit on April 24 against Kalshi, Coinbase, Polymarket, Robinhood, and Crypto.com, accusing these platforms of operating unlicensed gambling businesses under the guise of “event contracts.” The complaint cites marketing language used by the platforms themselves—for instance, Kalshi’s claim to be “the first legal sports betting platform in the U.S.,” and Polymarket’s statement that users can “bet on the outcomes of future events”—to argue that such contracts constitute wagering under Wisconsin law. The state government further noted that the platforms’ business model—charging fees per transaction—is functionally identical to casinos’ commission-based revenue structure. At the heart of this case lies a jurisdictional dispute: whether prediction market contracts fall under federal regulation by the Commodity Futures Trading Commission (CFTC) or are subject to individual states’ gambling laws. Similar lawsuits have already been filed by multiple states, and this conflict is expected to ultimately be resolved by the U.S. Supreme Court.
According to an official announcement, Robinhood has received in-principle approval (IPA) from the Monetary Authority of Singapore (MAS) to launch brokerage services in Singapore, covering securities trading, exchange-traded derivatives, custody, product financing, and collective investment schemes. Robinhood stated that Singapore will serve as its Asia-Pacific headquarters to support its international expansion. Its subsidiary, Bitstamp Asia Pte. Ltd., already holds a Major Payment Institution (MPI) license issued by the MAS. Note that in-principle approval is not equivalent to a formal license; Robinhood Singapore Pte. Ltd. must still meet relevant conditions before receiving final approval to commence operations.
According to CoinDesk, Wall Street brokerage Bernstein released a research report stating that prediction market trading volume is expected to grow from $5.1 billion in 2025 to approximately $100 billion in 2030, representing a compound annual growth rate (CAGR) of roughly 80%. Trading volume is projected to reach $24 billion in 2026, while Polymarket and Kalshi combined have already generated $60 billion in trading volume year-to-date. The report identifies three core drivers of this growth: increasing regulatory clarity at the federal level, blockchain infrastructure enabling global liquidity, and integration with mainstream trading platforms. Industry revenue is expected to rise from approximately $400 million in 2025 to about $10.8 billion in 2030. Distribution capability is viewed as a key competitive barrier. Robinhood has achieved an annualized revenue run-rate of $350 million from prediction markets and is advancing its exchange infrastructure development; Coinbase, meanwhile, offers nationwide access to over 1,000 contracts via the Kalshi platform. Bernstein maintains an “Outperform” rating on both companies.
Odaily News Cantor Fitzgerald pointed out in its latest report that with the rapid rise of prediction markets, Robinhood and Coinbase are poised to become major beneficiaries in this sector, leveraging their massive retail user base and mature trading infrastructure. Although leading platforms like Kalshi and Polymarket remain private companies, Robinhood and Coinbase have already begun entering this market by integrating event-driven trading within their applications.Cantor noted that prediction markets allow users to trade contracts based on real-world events such as elections and economic data, with prices reflecting the crowd's probability judgments. This model is similar to stock and crypto trading platforms, primarily generating revenue through trading activity fees. Among them, Robinhood's prediction market product, launched after the US election, has grown rapidly and has become one of its fastest-growing revenue streams; Coinbase is gradually opening related features to users by integrating Kalshi's infrastructure.The report believes that prediction markets not only have retail trading potential but may also play a role in institutional hedging and macro forecasting in the future. However, regulation remains the biggest uncertainty, as its legal status is still debated between being classified as a derivative or gambling. (CoinDesk)