Kalshi Ordered to Block Washington Bets Days After CFTC Backed It
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Kalshi ordered to stop broad range of prediction markets in Washington
Kalshi must implement initial geofencing by Aug. 19 and a GeoComply multi-source geofencing system by Sept. 2.
A single betting address lost $11.6 million in 10 days betting on the World Cup, with a win rate of only 26.7% across 15 bets.
According to Lookonchain Odaily, a certain address lost $11.6 million betting on the World Cup in 10 days, placing 15 bets, 11 of which resulted in losses, a win rate of only 26.7%, and the largest single loss was nearly $5 million.
The Ethereum blockchain project BackedFi suffered a suspicious attack, resulting in a loss of approximately $204,200.
PANews reported on July 1 that, according to TenArmorAlert monitoring, the Ethereum blockchain project BackedFi suffered a suspicious attack, resulting in a loss of approximately $204,200.
The World Cup fuels a boom in prediction markets: Polymarket trading surges, Kalshi open interest hits a new high.
PANews reported on June 24th that, according to The Block, prediction market platform Polymarket saw its "Soccer" betting volume exceed $2 billion in the first 10 days after the start of the World Cup, an increase of approximately 300% compared to the previous 10 days. The daily average volume for this category rose from $53 million to approximately $220 million. During the same period, compliant prediction platform Kalshi's aggregated open interest surpassed $1.16 billion for the first time last week, representing a year-to-date increase of approximately 350%. The report points out that Polymarket's overall open interest remained relatively stable during the World Cup, while Kalshi, regulated by the CFTC and supporting direct USD deposits, is attracting more US institutions and high-net-worth individuals to hold long-term positions. Its positioning directly competes with compliant sports betting platforms such as DraftKings and FanDuel.
Solana rose to the top spot in public blockchain activity over the past 7 days, with the number of active addresses surging 55% to 29.844 million.
According to Mars Finance, on July 4th, based on Nansen data, driven by active trading of the Meme coin (ANSEM), Solana rose to the top of the public chain in terms of activity over the past 7 days, with approximately 29.844 million active addresses, far exceeding other public chains. TRON (8.74 million), BNB Chain (8.09 million), Bitcoin (2.73 million), and Ethereum (2.46 million) followed. Solana's active addresses surged by 55% in the past week, with 680 million transactions generating $3.66 million in fees, a 62% year-on-year increase. The public chain's 7-day revenue was $407,000, an 18% year-on-year increase. Solana's total TVL is currently reported at $25 billion, a 5.9% increase over the past 7 days.
The CFTC chairman criticized Illinois' 0.2% cryptocurrency transaction tax, saying it hinders technological progress.
Odaily Odaily reports that Michael Selig, chairman of the U.S. CFTC, criticized Illinois for passing a 0.2% tax on crypto transactions, saying that the state's lawmakers have "put the brakes on technological progress" and disadvantaged the state's residents in future digital asset innovation. Illinois Governor JB Pritzker signed the Digital Asset Tax Act last month as part of the state's fiscal year 2027 budget plan. The act will impose a 0.2% tax on crypto transactions and is scheduled to take effect in January 2027. Selig stated that just as the internet transformed how information is transmitted, blockchain will transform how value is transferred. In the future, almost all assets, from commodities and currencies to stocks and bonds, could potentially be tokenized. He believes that Illinois' move deviates from Washington's direction of promoting digital asset innovation and could lead to a flow of capital, businesses, and technical talent to other jurisdictions. Previously, industry organizations such as the Crypto Council for Innovation, Digital Chamber, and the Illinois Blockchain Association had strongly opposed the tax, stating that it could become one of the harshest and most anti-crypto state-level tax systems in the United States. (The Block)