Flash News

TREE NEWS update: The Commodity Futures Trading Commission asked a federal judge in Utah to halt the state’s pending case against Kalshi, making Utah the tenth state where the derivatives regulator has taken legal action. The filing is part of the CFTC’s push to assert federal jurisdiction over prediction markets.

TREE NEWS update: Coinbase will convert 14 stablecoins it says fall outside MiCA rules into USDC at the market rate for European retail customers who leave them on the exchange, with the one-time conversion set for Friday. The swap applies to EEA users holding the affected tokens on the platform, and Coinbase will move them into USDC where it deems suitable.

TREE NEWS update: Anthropic signed a new OneGov agreement with the U.S. General Services Administration giving government customers a 40% discount on Claude Enterprise, Claude for Government and the Claude API, covering direct purchases and cloud-provider channels launching over the coming months. The deal extends for the first time to state, local, tribal and territorial governments and is projected to save about $1 billion, with no minimum spending threshold. Roughly 500 U.S. federal, state and local agencies now use Claude.

TREE NEWS update: The People’s Bank of China officially launched a non-bank large-amount redemption swap facility (BNSF) for the bond market on Oct. 26. Interbank and exchange bond market connectivity is now ready for implementation and will open after relevant parties complete testing. Experts said the two arrangements balance risk prevention with market connectivity, aiming to maintain stable bond market operations while improving liquidity and pricing efficiency.

TREE NEWS reports: The CFTC has reopened an investigation into whether Polymarket violated its 2022 settlement agreement, examining how the prediction market verified user locations, marketed in the US and onboards customers to its newer US platform. The probe focuses on compliance with the terms that resolved earlier charges over unregistered trading. Polymarket has not commented on the reported inquiry.

TREE NEWS update: Polymarket launched 5-minute cryptocurrency up-or-down prediction markets on its US app, covering BTC, ETH, SOL and XRP, the company said in a post on X on October 28. The launch comes as the CFTC investigates whether Polymarket violated a 2022 agreement that barred US users from the platform.

TREE NEWS update: U.S. Treasury Secretary Scott Bessent said at Ripple’s Swell conference that Congress’s failure to pass the CLARITY Act is disappointing, but the Treasury has “substantial convening power” to work with the SEC and CFTC to advance a crypto regulatory framework through agency action, calling both agencies “excellent partners.” Bessent said the CLARITY Act could have prevented a repeat of “debanking,” and that stablecoins will expand demand for the dollar and U.S. Treasuries, becoming an important funding source for the Treasury.

TREE NEWS update: Ripio has applied for a cryptocurrency broker license in Brazil and requested foreign-exchange authorization ahead of the filing deadline, the company said. Its existing Ripio Trade platform is scheduled to close on Nov. 30. The applications come as Brazil’s crypto regulatory framework takes shape.

TREE NEWS update: The Commodity Futures Trading Commission filed suit in Utah federal court to stop the state from acting against prediction markets, a week after Utah officials sued Kalshi to recover up to $60 million in alleged profits from event contracts. The CFTC argues the contracts are swaps under the Commodity Exchange Act and that state action infringes federal authority over commodity derivatives. Similar disputes are pending in New Jersey, Michigan and Ohio.

TREE NEWS update: The Commodity Futures Trading Commission sued Utah to block the state’s enforcement action against prediction market Kalshi, after Utah filed a lawsuit last week seeking to recover up to $60 million in profits tied to event contracts. The federal suit escalates the CFTC’s push to assert exclusive jurisdiction over prediction markets against state regulators.

TREE NEWS update: The CFTC has sued Utah, escalating its legal fight with states over prediction market regulation. The federal action follows Utah’s own lawsuit against prediction market platform Kalshi. The suit marks a widening conflict between federal derivatives regulators and state authorities over jurisdiction.

TREE NEWS reports: A large Democratic gain in Congress in the US midterms could tighten AI regulation next year, MUFG US macro strategy head George Goncalves said. That would benefit Treasuries by hitting stocks, slowing the economy and reducing AI-related bond issuance. The 10-year Treasury yield fell below 5% last week as bond markets rallied on AI concerns. Goncalves said continued fiscal expansion under a Republican win could be more challenging for bonds.

TREE NEWS update: Brazilian Supreme Court Justice Luiz Fux will hold a public hearing on Nov. 3 on the ban on sports betting and online casinos, which took effect Oct. 25 and voided 85 gambling licenses in Brazil, and has not yet ruled on whether to suspend it. The 10 a.m. local hearing will focus on the ban’s economic impact and include 26 participants, among them litigants, government agencies, football clubs and industry groups; individual betting operators were not invited. Congress must initially vote on the provisional measure by Nov. 23, with one extension of up to 60 days.

TREE NEWS reports: A September survey found that a majority of Americans want candidates who support US-based financial technology, offering a possible window into voters who could weigh fintech and digital asset policies on Election Day. The poll did not specify the exact share of respondents or the survey’s sample size.

TREE NEWS update: US authorities have charged six people over an alleged NFT wallet-draining scheme linked to Madagascar, with an FBI affidavit estimating at least $516,695 in losses across 74 victim-linked wallets. The affidavit also describes unlimited USDT spending approvals used in the operation.

TREE NEWS reports: The US Commodity Futures Trading Commission is investigating whether prediction market Polymarket violated a 2022 agreement that barred it from serving US users. The probe covers Polymarket’s US access controls, advertising campaigns, and customer onboarding and protection measures on its US platform. Polymarket settled with the CFTC in 2022 over offering unregistered event contracts and paid a $1.4 million penalty.

TREE NEWS reports: The U.S. Commodity Futures Trading Commission is investigating whether prediction market Polymarket violated its 2022 agreement barring U.S. users, examining the platform’s U.S. controls and advertising, as well as customer access and protections on its U.S. platform. Polymarket settled with the CFTC for $1.4 million in 2022 over offering unregistered event contracts.

TREE NEWS update: Crypto.com and derivatives partner OG.com began rolling out crypto perpetual futures to eligible US traders on October 28, offering up to 5x leverage, take-profit and stop-loss orders, and isolated margin. The products run through OG.com’s CFTC-regulated exchange, clearinghouse and futures commission merchant, while Crypto.com is registered with the NFA as an introducing broker. The CFTC opened US markets to crypto perpetuals in May; Kraken launched its US perpetuals product in June.

TREE NEWS update: The Commodity Futures Trading Commission filed a federal complaint against Utah seeking to bar the state from investigating or enforcing its laws against Kalshi and Susquehanna, which operate federally regulated prediction markets. The suit targets Utah’s case against the two firms, arguing state action conflicts with federal oversight of those markets.

TREE NEWS update: President Donald Trump is set to unveil a plan to roll back federal requirements aimed at cutting methane emissions from oil and gas operations, framing it as a way to boost domestic energy production and lower costs. The EPA proposal targets Biden-era rules that forced energy companies to replace leak-prone equipment and regularly inspect wells for escaping gas. The EPA estimates the plan would save about $45 billion between 2027 and 2050 while producing an additional 210 million barrels of oil and 1.41 trillion cubic feet of natural gas.