Author: Jeremy Ryan

A Michigan court is barring a prediction market platform from offering sports wagers to state residents or risk massive daily fines for failing to block access. The order requires KalshiEx, LLC to maintain geofencing using a state-licensed third-party provider, with violations triggering a $500,000 daily fine. The injunction prohibits offering, facilitating, advertising, or processing any internet sports betting contracts to anyone in Michigan, including users aged 18 and older. Michigan Attorney General Dana Nessel secured the ruling after filing suit in March 2026 alleging unlicensed sports betting under the Lawful Sports Betting Act. A temporary restraining order was already in…

Axis Robotics has released Axis Sim Dataset V1, one of the largest open-source simulation datasets for Franka arm manipulation, with the full dataset, training code, and benchmarks publicly available. V1 is built from more than 50,000 human-teleoperated simulation trajectories across 207 manipulation tasks and 60,000+ scene variants on a simulated Franka Research 3 arm. This dataset drew over 160,000 downloads, making it the most downloaded open-source simulation Franka manipulation dataset on Hugging Face. In benchmarks, continual pretraining on V1 lifted π0.5 and beat a volume-matched RoboCasa baseline, with every result open and verifiable. Axis Robotics is building the ultimate compounding…

The Commodity Futures Trading Commission (CFTC) asked a federal court on Sept. 2 to dismiss CME’s challenge to Kalshi’s Bitcoin perpetual contract.The lawsuit turns on whether a contract without a fixed expiration belongs in the US futures regime. Before the court reaches that question, the regulator says CME must first show an injury the court can fix.The Commodity Futures Trading Commission says CME is free to list a comparable digital commodity product, so the exchange cannot blame the regulator for competitive harm caused by its choice to stay out.That threshold argument turns a dispute over one Bitcoin contract into a…

Tether reported $1.3 billion in Q2 net operating profit in its latest BDO attestation statement, while excess reserves rose to $5.2 billion above full USDT backing. The figures keep Tether at the center of the stablecoin market’s profitability and reserve debate. USDT remains the largest dollar stablecoin in crypto, and Tether’s reserve earnings have become one of the most closely watched financial stories in the sector. The main driver is familiar: interest income from large holdings of U.S. Treasury assets. But the details still need careful wording. Net operating profit is not the same as total reserves, and excess reserves…

Binance is putting options on more than 1,000 selected US stocks and exchange-traded funds inside the same account that already offers crypto and several forms of equity exposure.The product is limited to eligible users outside the US, and the securities machinery behind the offer does not belong to Binance.The company said on Sept. 1 that Nest Trading Limited will introduce the orders and route them to Alpaca Securities LLC. Alpaca will execute, clear, and settle the trades, then custody any shares delivered when an option is exercised.Eligible customers can move among more products without leaving Binance, while Nest and Alpaca…

Kalshi, the US-regulated exchange that won approval for a Bitcoin perpetual in May, is preparing to ask the Commodity Futures Trading Commission to approve a perpetual futures contract tied to West Texas Intermediate crude oil, Reuters reported on Sept. 2. If approved, it would be the first oil perpetual to trade on a regulated US platform and would move a product structure built in crypto into the benchmark US oil market.Crypto’s favorite derivative was built around assets that trade every hour, with a structure that lets traders keep the same position because the contract has no fixed expiration. Reuters said…

The team behind digital art marketplace objkt may have found a surprisingly simple way to get people interested in collecting digital art again: put it inside a pack of trading cards. Kento, a new physical-digital collectible created by the objkt team, raised more than $100,000 on Kickstarter within its first 24 hours. By Thursday morning, the campaign had reached approximately $108,370 from 447 backers, equivalent to 2,000% of its original funding goal. The concept combines the familiar experience of opening collectible card packs with ownership of digital art. Kento’s first season turns 117 original works from 40 artists into physical…

The CFTC’s Division of Clearing and Risk has issued a staff advisory on how registered derivatives clearing organizations should handle tokenized collateral, including tokenized U.S. Treasuries used as margin. The advisory is a narrow but important signal. It does not approve tokenized collateral for every market. It does not mean all clearinghouses can suddenly accept any on-chain asset. It sets risk-management expectations for registered DCOs dealing with a specific emerging market structure. That makes the document useful for understanding how regulators are approaching tokenized assets inside core financial plumbing. For more details, visit the official Cftc platform. TL;DR The CFTC…

Revolut filed with the OCC and FDIC on March 4 to establish Revolut Bank US, an insured national bank that would take deposits, issue credit cards, make loans, and connect directly to Fedwire and ACH.Nearly six months later, that application remains pending, while federal regulators have spent the same stretch conditionally approving or converting bank charters for Circle, Ripple, Coinbase, Paxos, BitGo and several other crypto firms.Revolut has not been denied, though its application sits under review, and comparing it directly to those crypto approvals misses what each company asked Washington for.A national bank wants moreRevolut’s application describes a full-service…

Cardano founder Charles Hoskinson has criticized the relaunched TapTools, saying the platform no longer resembles the high-quality analytics website he once used as part of his daily routine. For context, TapTools initially announced its shutdown in June after facing significant internal and financial difficulties. As reported earlier, the platform had lost its fifth senior executive within a year, with departures involving key positions such as chief technology officer and chief operating officer, as well as co-founders. However, TapTools later reversed its decision yesterday and announced its return with the message, “We’re back.” The announcement initially sparked excitement among some Cardano…