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The post Kalshi’s court loss shows federal approval may still leave prediction markets fenced off by states appeared on BitcoinEthereumNews.com. A New York federal court has returned prediction-market access to state hands just weeks before the CFTC closes comments on national event-contract rules. In a July 7 opinion and order, Judge Analisa Torres of the Southern District of New York denied KalshiEX LLC’s request for a preliminary injunction to block New York gaming officials from enforcing state gambling law against its sports-event contracts while the case proceeds. The decision is preliminary. It leaves the merits open, but it rejects Kalshi’s bid for immediate relief on the argument that the Commodity Exchange Act preempts New York’s gambling laws as applied to those contracts. The access risk now has two tracks: whether the Commodity Futures Trading Commission accepts event contracts at the federal level, and whether states can force platforms to block, limit, or redesign access
Read full articleGoldman's ban on prediction markets for staff highlights growing regulatory scrutiny and potential conflicts of interest in financial institutions. The post Goldman Sachs bans staff from finance and politics prediction markets appeared first on Crypto Briefing.
The post Phantom and Hyperliquid Seek CFTC Clarity on DeFi Infrastructure appeared on BitcoinEthereumNews.com. Crypto wallet provider Phantom and the Hyperliquid Policy Center have urged the US Commodity Futures Trading Commission (CFTC) to exempt blockchain protocol developers and non-custodial wallet providers from regulations designed for traditional financial intermediaries. In response to a CFTC request for information on regulations affecting fintech firms, the companies asked the agency to confirm that blockchain protocol developers do not have to register solely for creating onchain software, issue guidance allowing regulated derivatives firms to use blockchain infrastructure, and codify exemptions preventing non-custodial wallet providers from being treated as introducing brokers. The companies argued that existing CFTC regulations were designed for custodial financial intermediaries that hold customer assets and process trades, while onchain protocols allow users to transact
The post Hyperliquid, Phantom Ask CFTC to Exempt DeFi From Broker Rules appeared on BitcoinEthereumNews.com. The joint filing asks regulators to turn Phantom’s March no-action relief into a formal rule covering all non-custodial wallet providers. The Hyperliquid Policy Center and wallet provider Phantom filed a joint comment with the Commodity Futures Trading Commission on Thursday, arguing the agency’s registration rules for exchanges and brokers should not apply to onchain protocol software or non-custodial wallets, according to HPC’s own post on X. The filing responds to a request for information the CFTC and SEC issued jointly in mid-June, seeking industry input on rules that hinder financial-technology innovation. Three Requests HPC and Phantom laid out three asks. First, confirmation that publishing onchain protocol software alone does not trigger registration as an exchange or clearinghouse. Second, a clear path for firms already registered with the CFTC to run regulated functio
The joint filing asks regulators to turn Phantom's March no-action relief into a formal rule covering all non-custodial wallet providers.
Both US financial regulators are understaffed at the leadership level and lacking Democratic commissioners, with no announcement from President Donald Trump on filling the roles.
The companies urged the regulator to exempt blockchain developers and non-custodial wallet providers from rules designed for traditional financial intermediaries.
Kalshi's accurate rate forecasts could signal significant shifts in crypto market dynamics, urging investors to reassess risk strategies. The post Kalshi traders see 57% odds of Fed rate hike in 2026, and crypto markets should pay attention appeared first on Crypto Briefing.
The post Prediction markets spark insider trading fears. How firms are responding appeared on BitcoinEthereumNews.com. A supporter checks the gambling site ‘Kalshi” just before State Assembly member, Alex Bores (D-NY) gives a speech to supporters at his watch party at The Freehand Hotel after conceding the congressional race to Micah Lasher who will replace Rep Jerry Nadler (D-NY) in NY’s 12th Congressional District on June 23, 2026 in New York City. Laura Brett | Getty Images Insider trading is an emerging risk in the new world of prediction markets, and some companies – including Goldman Sachs – are taking steps to limit employees’ trades on the platforms. Goldman Sachs has banned its employees from trading on contracts related to events that are specific to the bank, as well as elections, financial markets, macroeconomic data and geopolitics, according to people familiar with the matter. A representative for Goldman declined to comment on the policy, but did state that the bank proh
