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CFTC Sues New York Over Plan to Treat Prediction Markets as Gambling

The regulatory fight over prediction markets moved to the federal courts this week as the Commodity Futures Trading Commission (CFTC) sued New York state to block its gambling-law actions from applying to federally regulated event-contract platforms. In the Southern District of New York, the CFTC argued that federal law grants it exclusive authority over these markets and asked for a declaratory judgment plus a permanent injunction against New York’s enforcement efforts. “CFTC-registered exchanges have faced an onslaught of state lawsuits seeking to limit Americans’ access to event contracts and undermine the CFTC’s sole regulatory jurisdiction over prediction markets,” said CFTC Chair Michael Selig. The complaint comes as New York has intensified its own actions against major platforms, including Coinbase and Gemini, with Kalshi having faced prior state-enforcement pressure on its sports-related contracts. For context, New York’s push against unregistered gambling or gaming activities...
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Metaplanet Raises $50M Bonds to Boost Bitcoin Holdings Strategy

Metaplanet Expands Bitcoin Treasury Strategy Metaplanet has moved to expand its Bitcoin reserves through a fresh capital raise, signaling continued corporate adoption of digital assets across the business landscape. The Tokyo-based firm issued $50 million in zero-interest bonds to fund additional Bitcoin purchases and to bolster its treasury expansion plans. Metaplanet has also issued ¥8 billion in zero-interest ordinary bonds to accelerate Bitcoin accumulation, illustrating a diversified use of capital markets to build a Bitcoin-centric treasury. The bonds are structured with a stated maturity date in April 2027, enabling long-duration access to capital without immediate financing costs. The firm allocated the bond proceeds to EVO FUND, a dedicated vehicle aimed at targeted deployment into Bitcoin purchases. This approach supports a focused treasury model built around a single digital asset, simplifying governance and execution. As a result, the company maintains a clear and consisten...
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Peter Schiff Slams STRC as Ponzi, SEC Under Fire Amid Rally

Bitcoin hovered near the $78,000 level as fresh U.S. labour data signalled rising unemployment filings. The latest figures showed a modest increase in initial jobless claims, which shaped expectations around monetary policy. Market conditions reflected steady price action, while macroeconomic signals influenced sentiment across digital assets. Bitcoin Holds Near Resistance Amid Labor Market Signals Bitcoin remained close to the $78,000 mark despite recent consolidation and resistance pressure. The price showed stability, yet it struggled to break above the $79,000 to $80,000 range. This zone continued to act as a strong barrier due to concentrated selling activity. Meanwhile, recent US labour data added a new dimension to market direction and expectations. Initial jobless claims reached 214,000, exceeding projections of 211,000 and signaling slight labour market weakness. The increase also surpassed the prior revised figure of 208,000, reinforcing concerns about slowing economic moment...
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CFTC Sues NY Over Push to Apply Gambling Laws to Prediction Markets

The Commodity Futures Trading Commission (CFTC) has filed a lawsuit in the Southern District of New York to block New York state authorities from applying its gambling statutes to federally regulated prediction market platforms. The action highlights a widening clash over regulatory jurisdiction between federal financial regulators and state gambling authorities, with high-stakes implications for platforms, banks, and investors that rely on event-contract products. According to the complaint, the CFTC contends that federal law grants it exclusive authority over prediction markets, and it seeks a declaratory judgment and a permanent injunction to restrain New York’s enforcement actions. CFTC Chair Michael Selig framed the filing as part of a broader effort to defend the agency’s jurisdiction over federally registered exchanges amid an “onslaught” of state lawsuits aimed at limiting access to event contracts and undermining the CFTC’s oversight. In parallel, New York has already pursued ...
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Nine-day inflow streak for spot Bitcoin ETFs signals steady demand

US spot Bitcoin ETFs continued to attract fresh capital, extending a nine-day inflow run through April 24 as investors piled into core crypto exposure through regulated vehicles. SoSoValue’s tracking shows about $2.12 billion of net inflows over the April 14–24 window, with the strongest single-day performance on April 17, when inflows reached $663.91 million. Other notable sessions included April 14’s $411.50 million and April 22’s $335.82 million. The momentum wasn’t universal across all funds. Friday’s activity was comparatively modest, with net inflows of $14.45 million. Among the individual managers, BlackRock’s IBIT led the session with $22.88 million in inflows, while Fidelity’s FBTC recorded outflows of $1.69 million. Bitwise’s BITB and ARK 21Shares’ ARKB also posted outflows of $8.85 million and $9.02 million, respectively, with other products largely flat. The overall streak marks the first nine-day run for spot BTC ETFs since a similar burst in October, when inflows surged o...
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Brazil Bans 27 Prediction Markets, Including Kalshi and Polymarket

Brazilian authorities have moved to shut down 27 prediction market platforms, including Kalshi and Polymarket. The action, announced Friday, follows a directive from the Finance Ministry and enforcement by Anatel, Brazil’s telecom regulator, which contends that these services operate outside the country’s current legal framework. Finance Ministry executive secretary Dario Durigan described the moment as a turning point for the sector, telling reporters at the Palácio do Planalto that Brazil previously experienced “a period of anarchy because there were no rules, no oversight, from 2018 to 2022.” The crackdown aligns with a new rule framework issued by the National Monetary Council (CMN). Resolution 5.298, issued on Friday, takes effect in early May and narrows the scope of permissible prediction-market contracts. Under the CMN’s plan, contracts tied to sports, politics, entertainment, or social events are banned, as authorities deem them closer to gambling than to financial investments...
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Brazil Bans 27 Prediction Platforms, Kalshi and Polymarket Affected

Brazilian authorities have intensified a crackdown on prediction-market platforms, ordering the blocking of 27 services, including Kalshi and Polymarket. The move was announced in a joint escalation by the Finance Ministry and enforcement agencies, with state media Agência Brasil confirming the action. Officials argued that these platforms operate outside Brazil’s current legal framework and are therefore illegal. According to Agência Brasil, the enforcement follows a directive from the National Monetary Council (CMN) and marks a shift toward tighter oversight. Finance Ministry executive secretary Dario Durigan described the regulatory stance as a response to a period of regulatory “anarchy” in the sector from 2018 to 2022, signaling a transition to structured rules intended to prevent unregulated financial activity. The crackdown is anchored in CMN Resolution 5.298, issued on Friday and set to take effect in early May. The regulation sharply curtails the scope of prediction-market off...
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