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This week, the U.S. Court of Appeals for the District of Columbia Circuit has ruled in favor of the predictions market Kalshi, allowing the commodities exchange to offer event contracts based on the outcome of U.S. congressional elections. Circuit Judge Millett’s opinion supports the legality of the contracts, dismissing claims of gaming or election gambling. … Read more
The US regulator ordered approximately 85% of the significant fine to be paid back to victims of William Koo Ichioka’s fraudulent scheme. Go to Source
New York Congressman Ritchie Torres stated he is “more than happy” to work with the CFTC to develop a plan for regulating election betting contracts in the United States. Go to Source
Former Binance CEO Changpeng “CZ” Zhao has been ordered to pay $150 million, while Binance will pay $2.7 billion to conclude the CFTC enforcement action. Go to Source
Several Taiwanese residents were reportedly using the decentralized betting platform Polymarket, the same platform that saw record-breaking trading volumes during the 2020 United States election. Go to Source
Despite having no trading experience a Tennessee couple convinced 100 people to hand over their money for a uniquely named crypto investment pool. Go to Source Powered by WPeMatico
Binance, Changpeng Zhao and former compliance chief Samuel Lim intend to file two motions to dismiss a March lawsuit from the CFTC. Go to Source Powered by WPeMatico
In an interview with WSJ, Coinbase CEO, Brian Armstrong, explained that entrepreneurs who left the United States will return when the government finds the “right outcome” for crypto regulation. Go to Source Powered by WPeMatico
On Dec. 13, 2022, the U.S. Commodity Futures Trading Commission (CFTC) filed a lawsuit against Sam Bankman-Fried (SBF), FTX Trading LTD., and Alameda Research. The CFTC alleges that FTX customer deposits, “throughout the relevant period,” including both fiat currencies and cryptocurrencies, were reportedly “appropriated by Alameda for its own use.” U.S. Commodity Futures Trading Commission: … Read more
The Commodity Futures Trading Commission should be responsible for preventing companies like FTX from taking root in the future. Go to Source Powered by WPeMatico
