"We’re not going to be outspent or out-organized by entrenched interests protecting their monopolies," said John Bivona, head of government relations at Kalshi. Kalshi has backed a new lobbying group for prediction markets called Americans for Fair Markets, which has tapped former deputy White House chief of staff Taylor Budowich as its strategic advisor. Kalshi said on Friday that the organization is positioning itself against sportsbooks and casinos, which it claims are “focused on protecting their monopolies and seeding lies about prediction markets to policymakers.” Americans for Fair Markets, which Kalshi said was launched with its support, would join a broader lobbying push that includes the Coalition for Prediction Markets, an advocacy group for prediction markets launched in December 2025, backed by Coinbase, Crypto.com, and Robinhood. Read more
US President Donald Trump posted on Truth Social that final details of a deal with Iran are currently being discussed, giving crypto markets a lift. Crypto markets have recovered around $75 billion in value after US President Donald Trump said on Saturday that a peace agreement with Iran was imminent. Trump said in a post to his Truth Social platform on Saturday that a deal has been “largely negotiated” between the US and Iran, along with Saudi Arabia, the United Arab Emirates, Qatar, Pakistan, Turkey, Egypt, Jordan and Bahrain. “An agreement has been largely negotiated, subject to finalization between the United States of America, the Islamic Republic of Iran, and the various other countries,” Trump said. Read more
When Donald Trump warned Iran on April 7 that “a whole civilisation will die tonight,” a European diplomat in Washington said his government wanted an urgent answer to a chilling question: Was the US president contemplating the use of a nuclear weapon? Across Europe and Asia, the concern went beyond whether Trump’s apocalyptic threat was real or bluster. One fear, the diplomat said, was that Russia could seize the moment to justify similar threats in Ukraine, triggering a nuclear crisis on two continents. European governments immediately sought reassurance through a traditional channel: the US State Department. But according to the diplomat, officials there gave an unsettling response: they didn’t know what Trump meant or what actions his words might portend. The previously unreported episode points to a historic breakdown in American diplomacy. At a moment when a uniquely unpredictable US president is rattling markets and capitals with dramatic pronouncements, governments around the world are scrambling for ...
The US Federal Reserve proposed a limited “skinny” payment account framework for fintech and crypto firms and called for a temporary pause on Tier 3 applications. The US Federal Reserve proposed creating limited payment accounts that could give legally eligible fintech and crypto-linked banks narrower access to its payment rails without the backstops available to traditional banks. The proposal was released on Wednesday through a Federal Reserve Board request for comment and notice of proposed rulemaking, referring to “skinny master accounts” for nonbank financial institutions. The Fed also encouraged regional Reserve Banks to pause decisions on Tier 3 account-access requests while it finishes the rulemaking, a step staff said is expected to end by Dec. 31, 2026. Read more
Financial regulators are also asked to review regulations that could be amended to streamline applications for eligible fintech firms seeking bank and credit union charters. US President Donald Trump signed an executive order on Tuesday to review any barriers that might be stifling fintech innovation or preventing access to banking partnerships and payment rails. The order directs the Federal Reserve Board to evaluate the legal, regulatory and policy framework governing fintech and crypto firms' access to Federal Reserve payment systems and submit a report to Trump within 120 days. The governors have also been asked to assess the Federal Reserve's legal authority to grant direct access to fintech and crypto firms and to explore “options for expanding such access to the extent permitted by law, subject to appropriate risk management requirements.” Read more