The federal derivatives regulator, which oversees trading at Kalshi, argued it was inappropriate for Michigan to "bully" the firm into reversing trades.
- Kalshi was about to reverse prediction market trades made by its Michigan customers in answer to a court order, but the U.S. Commodities Trading Commission stepped in and argued that Michigan had no right to interfere with contracts.
- The CFTC halted the company from fulfilling the court order, which stemmed from the state's recent efforts to halt sports trades that its attorney general said represents illegal gambling.
- Michigan is the latest of several states in which the U.S. derivatives regulator is defending its legal authority over prediction markets.
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Beyond the Risk-Free Rate: Diversified Real World Yield in Productive Stablecoins
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Why it matters :
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
U.S. Clarity Act failure gives Asia and Middle East a competitive edge, says Apex Group CEO
Senate's top Democratic investigator looking into Tether payments to Bo Hines' firm
Irish central bank fines Coinbase Ireland $3.6 million over fund safeguarding failures
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