A Michigan Judge has temporarily blocked Kalshi from offering sports betting contracts to residents, escalating the state-federal fight over prediction markets and gambling laws. A Michigan judge temporarily blocked prediction market Kalshi from allowing residents to place bets on sporting events, after the state's attorney general accused the platform of violating gambling laws. Kalshi was hit with a temporary restraining order from Ingham County Circuit Court Judge Rosemarie Aquilina, who said the platform would be fined $120,000 for each day it fails to comply with the order’s geolocation requirements, according to a Monday court filing. The order lasts for 14 days and expires on July 13. Aquilina wrote that Michigan residents would suffer irreparable harm from being “exploited by Kalshi's sports betting operation masquerading as an investment opportunity.” Read more
The Celsius-linked Bitcoin miner is seeking a Nasdaq direct listing as it repurposes mining infrastructure for AI and high-performance computing workloads. Bitcoin miner-turned-AI infrastructure company Ionic Digital has filed for a Nasdaq direct listing that could give former Celsius creditors a public market for shares they received through the bankrupt lender’s restructuring. Registered stockholders may sell up to 10.8 million Class A shares under the proposed IOND ticker, according to a registration statement filed with the US Securities and Exchange Commission on Monday. Ionic was formed in 2024 to acquire Celsius Mining’s assets through the bankrupt lender’s restructuring. In the filing, Ionic said it started repositioning itself in 2025 from a pure-play Bitcoin miner into a broader digital infrastructure company serving artificial intelligence and high-performance computing (HPC) workloads. Read more
From July, crypto exchanges operating in Australia will prompt for additional information on all outgoing and incoming transfers. Crypto exchange users in Australia will soon face stricter rules on all transfers as the country’s travel rule is set to come into force on Wednesday, aligning it with similar rules in the EU, US and UK. From July, all crypto sent and received on locally-regulated crypto exchanges will require users to provide additional information, such as the name of the person the crypto is being sent to or received from, and the name of the platform. Gabby Lewis, the head of fraud and financial crime at Swyftx, told Cointelegraph that for most exchange users, “the impact should be very limited. They’ll provide the required details once, and then these will be saved for future use.” Read more
ARK Invest's biggest crypto stock purchases over the past three trading days were Coinbase and Circle, whose shares have fallen 17% and 27.6%, respectively, over the past month. Tech-focused asset manager ARK Invest has capitalized on the recent crypto market downturn, buying a combined $43.5 million worth of shares in crypto firms such as Coinbase and Circle over the past three trading days. Data from ARK Invest shows the asset manager bought another 122,544 shares in Coinbase (COIN) worth about $18.6 million since Thursday, while adding another 169,777 shares in Circle (CRCL) worth roughly $12.9 million over the same time frame. The firm also purchased nearly $5.2 million worth of shares in crypto exchange Bullish (BLSH) and added another $5.12 million in brokerage firm Robinhood (HOOD), which has pushed aggressively into the crypto tokenization space in recent months. It also bought $1.69 million worth of shares in crypto-friendly bank SoFi Technologies (SOFI) on Monday. Read more