💰 Trump Jr.-linked 1789 Capital leads $1B Polymarket raise
Blockchain prediction market Polymarket is reportedly raising $1 billion in a new funding round led by 1789 Capital. The investment firm, where Donald Trump Jr. is a partner, is expected to contribute $300 million to the deal.
This massive capital injection would value Polymarket at $21 billion, positioning it just behind its main competitor, Kalshi, which holds a $22 billion valuation. The move brings 1789 Capital's total stake in the platform to approximately $500 million.
The raise comes despite significant regulatory pressure. JPMorgan Chase recently ended its banking relationship with Polymarket due to regulatory concerns, and over a dozen US states have taken legal action against prediction markets. However, ICE remains the largest disclosed investor with a $1.6 billion stake.
#Polymarket #Trump #CryptoNews #Blockchain
Blockchain prediction market Polymarket is reportedly raising $1 billion in a new funding round led by 1789 Capital. The investment firm, where Donald Trump Jr. is a partner, is expected to contribute $300 million to the deal.
This massive capital injection would value Polymarket at $21 billion, positioning it just behind its main competitor, Kalshi, which holds a $22 billion valuation. The move brings 1789 Capital's total stake in the platform to approximately $500 million.
The raise comes despite significant regulatory pressure. JPMorgan Chase recently ended its banking relationship with Polymarket due to regulatory concerns, and over a dozen US states have taken legal action against prediction markets. However, ICE remains the largest disclosed investor with a $1.6 billion stake.
#Polymarket #Trump #CryptoNews #Blockchain
🚨 Polymarket Launches Perpetual Futures with 20x Leverage
Prediction market giant Polymarket has officially launched Polymarket Perps, a perpetual futures platform. The service debuted with 10 markets and quickly expanded to 67 assets, including Bitcoin, Ethereum, Solana, and various stocks and commodities.
Traders can access up to 20x leverage on crypto assets and major indices like the S&P 500, while individual stocks like Tesla and Nvidia are capped at 10x. Unlike traditional prediction contracts, these have no expiration and use an hourly funding rate to track spot prices.
Due to a 2022 CFTC settlement, the service is blocked for users in the United States and Canada. US-based traders are instead routed to Polymarket US, a separate regulated exchange with more limited offerings.
#Polymarket #CryptoNews #Perpetuals #Trading
Prediction market giant Polymarket has officially launched Polymarket Perps, a perpetual futures platform. The service debuted with 10 markets and quickly expanded to 67 assets, including Bitcoin, Ethereum, Solana, and various stocks and commodities.
Traders can access up to 20x leverage on crypto assets and major indices like the S&P 500, while individual stocks like Tesla and Nvidia are capped at 10x. Unlike traditional prediction contracts, these have no expiration and use an hourly funding rate to track spot prices.
Due to a 2022 CFTC settlement, the service is blocked for users in the United States and Canada. US-based traders are instead routed to Polymarket US, a separate regulated exchange with more limited offerings.
#Polymarket #CryptoNews #Perpetuals #Trading
🚨 CFTC moves to regulate prediction markets as financial swaps
The CFTC has issued two major proposals to classify event contracts as swaps under federal law. This move aims to bring platforms like Polymarket and Kalshi under exclusive federal jurisdiction, separating them from traditional casino gambling.
Chairman Michael Selig stated that event contracts tied to politics, sports, and weather are commodity derivatives. By defining them as swaps, the CFTC asserts its authority over state regulators who have recently sued these platforms for illegal gambling.
A second proposal explicitly excludes traditional casino games and sportsbooks from the swap definition. This distinction is designed to protect the CFTC's remit while leaving actual gambling to state authorities.
#CFTC #Polymarket #Regulation #CryptoNews
The CFTC has issued two major proposals to classify event contracts as swaps under federal law. This move aims to bring platforms like Polymarket and Kalshi under exclusive federal jurisdiction, separating them from traditional casino gambling.
Chairman Michael Selig stated that event contracts tied to politics, sports, and weather are commodity derivatives. By defining them as swaps, the CFTC asserts its authority over state regulators who have recently sued these platforms for illegal gambling.
A second proposal explicitly excludes traditional casino games and sportsbooks from the swap definition. This distinction is designed to protect the CFTC's remit while leaving actual gambling to state authorities.
#CFTC #Polymarket #Regulation #CryptoNews
🚨 US Midterms: Prediction Markets Bet on Democratic Sweep
Data from Kalshi and Polymarket shows a 75% chance of Democrats taking both the House and Senate. Over $1.9 billion has been traded on election outcomes, marking a record for a midterm cycle on these crypto-linked platforms.
In the high-stakes Ohio Senate race, markets predict a 72% win probability for Sherrod Brown. This comes despite the crypto-backed Fairshake super PAC spending over $40 million to oppose the known crypto-critic, who may now chair the Senate Agriculture Committee overseeing the CFTC.
#USMidterms #Polymarket #CryptoRegulation #PredictionMarkets
Data from Kalshi and Polymarket shows a 75% chance of Democrats taking both the House and Senate. Over $1.9 billion has been traded on election outcomes, marking a record for a midterm cycle on these crypto-linked platforms.
In the high-stakes Ohio Senate race, markets predict a 72% win probability for Sherrod Brown. This comes despite the crypto-backed Fairshake super PAC spending over $40 million to oppose the known crypto-critic, who may now chair the Senate Agriculture Committee overseeing the CFTC.
#USMidterms #Polymarket #CryptoRegulation #PredictionMarkets