Kalshi is reportedly in a financing round targeting a roughly $22 billion valuation, seeking about $1 billion in new funding.

Regulatory pushback is intensifying, with Arizona charging Kalshi with operating an unlicensed sports gambling operation and ongoing tensions between state jurisdictions and the CFTC over oversight.

An on-chain event saw a prominent Ethereum holder unload substantial holdings, selling 15,002 ETH and partially liquidating loans, signaling liquidity moves in crypto markets.

Bitcoin rebounded above $70,000 amid geopolitical signals and macro uncertainty, with upcoming crypto events and token unlocks on the radar.

The story highlights involvement of high-profile figures, including Donald Trump Jr.’s investments in Polymarket and a strategic advisory role at Kalshi, as part of the broader regulatory landscape.

Polymarket has updated its terms of service and market integrity rules to strengthen prohibitions on insider trading and market manipulation amid rising trading volumes.

A bipartisan bill, the Prediction Markets Are Gambling Act, is being introduced by Senators Schiff and Curtis to ban CFTC-listed prediction contracts that resemble sports bets or casino-style games, drawing on concerns about state protections and tribal sovereignty.

Industry context shows Kalshi aiming for a near $22 billion valuation, with Polymarket pursuing similar scale despite regulatory scrutiny.

Polymarket clarifies three categories of insider trading—illegal tips, stolen/private data, and trades by individuals who can influence outcomes—and adds Market Integrity pages to report suspicious activity.

Kalshi and Polymarket run prediction markets across sports, politics, crypto, and pop culture, with sports-focused trading comprising the bulk of activity and competing with traditional sportsbooks.

The article closes with standard disclosures and context from The Block, emphasizing independent reporting and financial disclosures.

Polymarket pursues enhanced market integrity rules on its DeFi platform and a CFTC-regulated U.S. exchange, signaling ongoing focus on compliance.