The Daily: Lawmakers move to ban sports betting on prediction markets, Polymarket and Kalshi CEOs back a new $35 million venture fund, and more
Lawmakers propose banning sports betting on prediction markets, while Polymarket and Kalshi CEOs invest in a new $35 million venture fund.Summary
A bipartisan Senate bill aims to prohibit prediction market platforms like Kalshi and Polymarket from offering sports and casino-style betting contracts, citing concerns about regulatory loopholes and consumer protection. Simultaneously, Polymarket CEO Shayne Coplan and Kalshi CEO Tarek Mansour are backing a new $35 million venture fund, 5c(c) Capital, focused on prediction market startups. Other news includes Fidelity urging the SEC to refine rules for broker-dealers handling crypto assets, Bitmine increasing its Ethereum holdings, and an early Ethereum investor selling a significant portion of their holdings after a decade. Several crypto events are also scheduled to begin in the coming days, and token unlocks are expected from SoSoValue and Monad.
(Source：The Block)