News Center
NFL Urges CFTC to Tighten Rules on High-Risk Sports Prediction Contracts
Pennsylvania Bill on Prediction Markets Could Bar Sportsbooks from Market Making
Pennsylvania lawmakers have introduced a bipartisan bill that would establish insider trading rules for prediction markets while prohibiting sportsbooks and other gambling companies from providing liquidity or market making for these platforms. The bill does not create a state licensing system but regulates prediction markets through conduct standards and consumer protections. A separate bill would require prediction market operators to obtain a state license and pay a 22% tax. Neither bill has yet received a committee hearing or vote.
1 hours ago
Fanatics to Acquire BGC Prediction Market Exchange
Fanatics has agreed to acquire Water Street Labs and CX Clearinghouse from BGC Group, gaining a CFTC-regulated exchange and clearinghouse to directly control its prediction market infrastructure. Water Street Labs received CFTC designation as a contract market on July 16, 2026, while CX Clearinghouse has been registered as a derivatives clearing organization since 2010. The deal will allow Fanatics to list and clear event contracts directly, reducing reliance on third-party infrastructure. Fanatics Markets currently operates in 23 U.S. states and four territories.
1 hours ago
NFL Urges CFTC to Tighten Rules on High-Risk Sports Prediction Contracts
The National Football League (NFL) has urged the Commodity Futures Trading Commission (CFTC) to tighten proposed rules on prediction markets to protect game integrity and consumers. The NFL calls for stricter limits on sports contracts that could be manipulated or rely on insider information, and suggests shortening the self-certification review period for new contracts. The request comes as the CFTC seeks comments on a federal framework for event contracts.
1 hours ago
Binance Co-Founder CZ Backs ASEAN Crypto Passport Initiative
Binance co-founder Changpeng Zhao (CZ) voiced support for the ASEAN crypto license passport initiative at the 2026 ASEAN Tech Summit. The plan would allow crypto firms licensed in one ASEAN jurisdiction to streamline approval processes in other member states, reducing duplicate applications and compliance costs. However, no formal framework or timeline exists yet. The proposal still lets host regulators assess applicants and impose local conditions. CZ's endorsement is not a policy decision but reflects industry hopes for simplified regional regulation.
1 hours ago
Franklin Templeton Backs Controversial Crypto Clarity Act
Asset management giant Franklin Templeton ($1.7 trillion AUM) joins BlackRock, Fidelity, and Goldman Sachs in supporting the controversial Clarity Act, which aims to clarify cryptocurrency regulations but faces opposition from New York Attorney General Letitia James, who argues it would weaken state and local enforcement. The bill's passage this year remains uncertain, with Polymarket odds indicating low probability.
BTCCryptocurrency Regulationinstitutional supportFranklin Templeton1 hours ago
Kalshi Denied Emergency Injunction in Federal Court
Judge Analisa Torres of the U.S. District Court for the Southern District of New York denied Kalshi's request for an emergency injunction pending appeal, ruling that Kalshi failed to show a likelihood of success on appeal. The court rejected the CFTC's proposed rule on federal preemption of state event contract regulation, emphasizing that legal interpretation is for the court alone. Kalshi faces a dilemma between violating New York gambling laws or federal registration requirements, but the court found its registration risk speculative and compliance costs merely monetary, not irreparable harm.
2 hours ago
Zimbabwe Approves 7 Fintech Projects for Sandbox Testing
The Securities and Exchange Commission of Zimbabwe (SECZ) has approved seven fintech projects for its regulatory sandbox, with four focusing on tokenization. The projects cover blockchain financing, crowdfunding, synthetic trading, asset tokenization, securities, and infrastructure markets. The sandbox allows live testing under regulatory oversight, but successful completion does not guarantee commercial registration.
2 hours ago
Kalshi and Polymarket Win Injunction in Minnesota
A federal judge granted a temporary injunction on July 27, blocking Minnesota's prediction market ban from taking effect on August 1. The ban would have made creating, operating, or promoting prediction markets a felony. The judge ruled that the plaintiffs are likely to succeed on their federal preemption claim, as the Commodity Exchange Act grants the CFTC exclusive jurisdiction over federally registered contract markets. The injunction will remain until a final ruling, though its scope may narrow due to the judge's concerns about the legality of certain event contracts.
3 hours ago
CLARITY Act Would Weaken State Fraud Powers, James Warns
New York Attorney General Letitia James warns that the CLARITY Act could undermine state enforcement powers against cryptocurrency fraud. In written testimony to a Senate committee, she argues the bill would preempt state investor protection laws, limiting state and local agencies' ability to prosecute digital asset misconduct. James notes that state and local law enforcement handle approximately 98.8% of arrests nationwide, while federal agencies account for only 1.2%. She urges Congress to strengthen investor protections, anti-money laundering measures, and ethical safeguards. The controversy is a key obstacle to advancing the bill in the Senate, with some Democratic senators opposing the shift of enforcement responsibility solely to the Department of Justice.
BTCinvestor protectionstate enforcementLetitia James9 hours ago
Fanatics Acquires CFTC-Regulated Exchange in Prediction Markets Power Play
Fanatics has acquired a CFTC-registered exchange and clearinghouse from BGC Group, enabling it to list and settle event contracts directly on its Fanatics Markets platform without third-party reliance. This move aligns with rivals like DraftKings and FanDuel entering CFTC-regulated event contracts, aiming to cover states where mobile sports betting is banned. The prediction market sector is booming, with Polymarket and Kalshi seeing surging volumes, and analysts projecting $1 trillion in trading volume by 2030. Fanatics is also partnering with BGC to develop market data products blending prediction market sentiment with traditional financial data.
12 hours ago