The $20B World Cup print is five times the 2024 U.S. election cycle and validates Polymarket and Kalshi as the venues where sports and politics meet on-chain.
When Wintermute's first-half OTC book flipped from retail-led to institution-led, broad altcoin beta broke. The trade has moved from screen to OTC, and the tape shows it.
The $160 price target on Outperform hinges on Robinhood expanding beyond spot trading into tokenized assets and event contracts, where volume margins are wider.
The 149,000 BTC contracts and 435,000 ETH contracts clearing today carry a combined notional near $10.5B, with both assets showing call-heavy positioning that signals traders are paying up for…
The state is asking for triple Kalshi's gains plus $100K per unauthorized wager offer. Kalshi just scored a federal win in Minnesota, but the New York playbook is civil enforcement at scale.
Hyperliquid ran SpaceX at launch, CME shrank oil contracts for 24/7 retail access, and the CFTC opened a 67-question docket on perpetual crude.
The print delivered record retail market share and a doubling of prediction-market volume, but a heavy reliance on non-bitcoin revenue and softer transaction income pushed shares lower.
The legal fight is framed as futures vs. swaps, but Duffley's real alarm is the IRS bill traders could face if courts reclassify a year of 1256 filings as ordinary income.
The $27M July outflow is the first negative month for Hyperliquid ETFs after $280M of cumulative inflows, yet Grayscale argues HYPE trades at 15-18x projected earnings versus 35-40x for Coinbase and…
Roughly 93% of crypto futures volume runs through perps, and Binance's order book leads spot on most moves.
Prices barely moved on the day, yet roughly 90,000 traders got cleared: leverage underneath flat tape tells you positioning was the trade, not direction.
If the contracts weren't touched, the question is how the keys, servers, or operational layer were, and whether LP recovery hinges on a counterparty the protocol doesn't control.
Event contracts pulled $156M versus $100M from crypto trading, a 38% YoY slide in token revenue, while overall net income climbed 48% to $573M.
Perps volume is migrating to chains built for speed, but Ethereum's deeper bet is becoming the settlement and collateral layer that backs them.
Bullish's Chris Tyrer and Tram Doman argue the systemic-risk fear is real, but it is born from how a venue handles defaults under stress, not from the no-expiry contract itself.
A 54-point collapse from the February peak of 82% captures how the legislative calendar has slipped past three promised windows, leaving market-structure clarity for crypto squarely in a slow-motion…
Gold perps alone peaked at $7.77B in daily volume on Binance; the new European-style options, settled in USDT through ADGM-regulated Nest Exchange, layer on top of that demand with retail capped at…
The bipartisan letter lands while the CFTC weighs whether event-contract venues like Kalshi and Polymarket fall under federal jurisdiction, a fight state regulators say belongs to them, not…
Brian Smith of the Jito Foundation argues perps are the on-ramp for trillions of dollars of TradFi flow, and that Solana is losing the gateway race to Hyperliquid despite shipping the better…
The bill that would route crypto oversight to the CFTC faces a packed Senate calendar. With Russia sanctions, nominations, and a government funding fight ahead, a vote may slip to a narrow September…
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