The bill proposes to prohibit government officials from using insider information to bet on prediction market contracts, with fines up to double the amount of profits. US lawmakers have introduced a second bill this week aimed at curbing prediction market insider trading by government officials, amid growing concerns over such activity on major platforms such as Kalshi and Polymarket. In an announcement on Thursday, US lawmakers Todd Young, Elissa Slotkin, John Curtis and Adam Schiff unveiled the bipartisan Public Integrity in Financial Prediction Markets Act of 2026. "No one should be profiting off the information and knowledge gained as a public servant, period," Slotkin said, adding: "This bill is an important first step in placing common sense rules around prediction markets, and it has real teeth to ensure those who break these rules face real consequences." Read more
Stretch shares are an on-ramp for people who believe Bitcoin will be around for the long term but can’t handle the near-term volatility, explained Michael Saylor. Retail investors dominate Strategy’s “Stretch” shares, which have been used to acquire over $1 billion worth of Bitcoin this year. Roughly 80% of STRC holders are retail investors, according to CEO Phong Le, who said on Wednesday that these investors “prefer low-volatility, high-yield digital credit.” “Retail investors prefer low-volatility, high-yield digital credit,” he added. Read more
David Sacks will lead a new tech-focused advisory group established by the White House, which will include key leaders like Nvidia’s Jensen Huang and Meta’s Mark Zuckerberg. David Sacks, a venture capitalist who became a special White House official under US President Donald Trump last year, has wrapped up his 130-day tenure as crypto and AI czar but will continue to shape policy in a new role. “We've now used up that time,” Sacks told Bloomberg on Thursday, noting that he will continue making policy recommendations across a broad range of tech industries as co-chair of the President’s Council of Advisors on Science and Technology (PCAST). Sacks has been an influential figure in the White House since Trump tabbed him in December 2024 as his key adviser on technology. Reuters noted that under US rules, such special government employees are limited to 130 days of work in a 12-month period. Read more