Kalshi sued Minnesota while the CFTC filed against Rhode Island as legal wrangling with state-level authorities seems likely headed to the US Supreme Court. The US Commodity Futures Trading Commission (CFTC) and companies behind prediction market platforms are continuing legal fights against state-level authorities, with the latest battlegrounds centered in Rhode Island and Minnesota. Last week, Minnesota Governor Tim Walz signed a bill into law amending statutes to prohibit advertising, creating, operating or otherwise facilitating prediction market platforms. The move prompted CFTC Chair Michael Selig to file in federal court less than 24 hours later, alleging Minnesota and its officials had enacted the “first outright ban” on prediction markets. Source: PACER Read more
The purchase pushed the Nasdaq-listed company ahead of Coinbase Global to become the fourth-largest public corporate holder of Ether, according to CoinGecko data. Bit Digital purchased $20 million worth of Ether earlier this month, increasing its holdings to roughly 158,462 ETH. The Nasdaq-listed company said Thursday it acquired 8,568 ETH (ETH) on May 11 at an average price of $2,334.25 per token. CEO Sam Tabar said the purchase reduced Bit Digital’s average ETH acquisition cost and was part of the company’s strategy to grow net asset value per share through Ethereum accumulation, AI infrastructure and acquisitions. Read more