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US House Probes Kalshi and Polymarket for Insider Trading

The U.S. Congress is intensifying its scrutiny of prediction-market platforms Polymarket and Kalshi, demanding internal records to understand how each platform handles insider trading. The move comes after public disclosures and media reports suggested traders might be using nonpublic information tied to government actions to place bets. In a post on X, Rep. James Comer, chair of the House Oversight and Reform Committee, said he had sent letters to Polymarket CEO Shayne Coplan and Kalshi CEO Tarek Mansour, requesting internal documents that detail the firms’ procedures for detecting and mitigating insider trading. Comer warned that lawmakers are concerned about elected officials leveraging “basic insider knowledge” to profit from government actions, a practice he described as unacceptable. Comer cited reports of more than 80 suspicious trades that appeared to be timed ahead of Iran-related military operations, a finding he linked to concerns that politicians and other officials with ac...
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Institutional Influence Grows in Bitcoin, AI Tokens & Prediction Markets

Institutional adoption continues to reshape the digital asset landscape, even as geopolitical tensions underscore crypto’s sensitivity to broader macro conditions. This week saw digital asset investment products suffer more than $1 billion in outflows as traders pared risk amid fading hopes for a durable U.S.-Iran ceasefire. At the same time, Tether tightened its grip on Twenty One Capital by purchasing SoftBank’s stake, Bernstein highlighted a shift in Bitcoin mining toward AI infrastructure, and Polymarket teamed up with Nasdaq to launch prediction markets tied to private companies. The week’s developments illustrate how institutions still sit at the heart of the evolving crypto ecosystem, even as macro shocks drive short‑term sentiment swings. Key takeaways Digital asset funds posted over $1 billion in outflows last week as geopolitical tensions fueled a risk-off environment, led by Bitcoin and Ether products tracked by CoinShares. Despite the weekly pullback, crypto exchange-tr...
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US Lawmakers Probe Kalshi, Polymarket Insider Trading: Regulatory Risks

The chair of the U.S. House of Representatives’ Oversight and Government Reform Committee has escalated congressional scrutiny of prediction-market platforms by directing letters to the chief executives of Kalshi and Polymarket. The inquiries request internal records and governance details about how the platforms monitor and mitigate insider trading, underscoring growing congressional concern that public officials and private operators could leverage privileged information for financial gain. In a Friday post on X, Committee Chair James Comer confirmed that he had sent correspondence to Polymarket CEO Shayne Coplan and Kalshi CEO Tarek Mansour. Comer’s remarks highlighted unresolved questions about whether elected officials are using “basic insider knowledge” to profit from government actions, raising the stakes for platforms that run event- and futures-like markets on real-world political and geopolitical events. “More than 80 suspiciously timed trades were placed ahead of Iran milita...
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SpaceX IPO Triggers Tech Selloff; Bitcoin Yet to Follow

SpaceX, Elon Musk’s aerospace and satellite company, is targeting a $75 billion IPO in June that could propel the private firm into the Nasdaq 100 on a fast-track admission. The move would not only redefine SpaceX’s market visibility but also place a much larger Bitcoin treasury inside one of the world’s most-watched tech indices, potentially reshaping the relationship between crypto assets and mega-cap equities. In its recent S-1 filing, SpaceX disclosed a holding of 18,712 BTC, valued at roughly $1.45 billion at current prices. That makes SpaceX the largest known Bitcoin holder among companies preparing for or recently filing for a public listing, underscoring a degree of crypto exposure that could follow the IPO into the Nasdaq 100 if the listing advances as planned. Under Nasdaq’s fast-entry rules, blockbuster IPOs can join the Nasdaq 100 within about 15 trading days, provided the company’s valuation lands in the $1.75 trillion to $2 trillion range after the IPO. A SpaceX listing i...
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Trump Media Offloads 2,650 Bitcoin Worth $205 Million Amid Speculation

Trump Media sold $205 million worth of Bitcoin amid rising losses The firm’s remaining BTC holdings are down nearly $455 million Institutional Bitcoin selling continues to pressure the crypto market Trump Media and Technology Group has reportedly sold a significant portion of its Bitcoin holdings amid deepening losses across the cryptocurrency market, underscoring growing pressure on institutional investors exposed to digital assets. As Bitcoin continues to trade well below the 2025 highs, blockchain tracking platform Lookonchain reported that it sold 2,650 BTC worth about $205 million. https://x.com/lookonchain/status/2057648353681485873?s=20 Trump Media’s Bitcoin Holdings Face Massive Losses According to available on-chain data, Trump Media initially acquired 11,542 BTC for roughly $1.37 billion at an average purchase price of $118,522 per coin. Four months ago, the company shifted 2,000 BTC valued at approximately $175 million, the same period in which Bitcoin was trading a...
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XRP Draws 4,300 New Wallets in 24 Hours as Price Remains Flat

XRP Ledger has recorded a notable spike in new addresses over the past 24 hours, suggesting renewed on-chain activity even as XRP’s price remains constrained by overhead resistance around the $1.40 region. Santiment highlighted the latest burst in network growth, noting 4,300 wallets were created in a 24-hour window—the year’s fourth-largest spike so far in 2026. Daily active addresses also climbed to 43,520 from roughly 32,000 in the same period. The analytics firm underscored that “network growth is among the top leading signals to identify reversals.” Key takeaways XRP Ledger added 4,300 new wallets in 24 hours, marking a substantial growth spike in 2026. On-chain activity accompanied a rise in daily active addresses, signaling renewed participation on the Ripple-backed network. US spot XRP ETFs continue to attract inflows, with May flows supporting liquidity and demand through institutional channels. Investor cost basis around $1.37–$1.45 may create a nearby resistance band for XRP...
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An Open Door Few Enter: Most Want Crypto, Yet One in Three Still Hold Back

More than one-third of investors still avoid crypto, mainly because they are afraid of making mistakes. At the same time, 70% are open to using it in everyday life, especially for payments. This creates a clear gap between curiosity and actual use, according to a recent survey by Maclear among European investors . Security failures dominate public perception of crypto, from high-profile exchange collapses to large-scale hacks, and the data reflects this. Yet fear of scams and fraud, while real, is only part of the picture. According to the survey, 35% of non-users cite lack of confidence and poor understanding of how crypto works as their primary barrier, not external threats, but internal ones. This distinction matters: platform failures can be addressed by regulation, but knowledge gaps require a different response entirely. The State of Crypto Adoption in Europe and Its Major Barriers Crypto adoption is already widespread, but usage remains shallow. Nearly half of respondents—48%—re...
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