The Commodity Futures Trading Commission claims it "first officially recognized" event contracts in 1992 and that Congress has granted it sole authority over the market. The Trump administration is suing Illinois, Connecticut, Arizona, and their gaming regulators over the federal government’s right to regulate prediction markets. The Commodity Futures Trading Commission (CFTC) and the US Department of Justice filed separate lawsuits on Thursday against the three states. In 2025, those states and their gaming regulators sent cease and desist letters to prediction platforms, including Kalshi and Polymarket, claiming that the event contracts offered by the platforms violated state gambling laws and licensing requirements. Read more
An executive said the social media platform could lock accounts mentioning crypto for the first time and require verification after a scammer faked reports of a tortoise's death. Social media platform X is considering implementing new rules for first-time user posts about crypto in an effort to crack down on scammers using phishing attacks to gain access to accounts. Nikita Bier, the head of product at the platform formerly known as Twitter, made the announcement on Wednesday amid reports that a scammer pretending to be a veterinarian previously responsible for the health of a 193-year-old tortoise named “Jonathan” conned social media users into buying crypto before the truth was revealed. Bier said that X could auto-lock accounts mentioning crypto for the first time and require them to go through verification. “This should kill 99% of the incentive, especially since Google isn’t doing shit to stop the phishing emails,” read his post. Read more
Abatorul Peris, a company owned by Jabbar Kanani and Alin Zamfira, had its best year in recent history in 2025.