Asset manager Yorkville America has withdrawn multiple crypto ETF applications for Truth Social, citing a shift to '40 Act structures for stronger investor protections and tax efficiencies. The move comes amid cooling demand for crypto ETFs and concerns over Trump's ties to the industry.
Bitcoin briefly plummeted to about 2 cents on Revolut due to what the financial platform described as a third-party service disruption.
Wisconsin Attorney General Josh Kaul has sued Kalshi, Polymarket, Robinhood, Crypto.com, and Coinbase in Dane County court, alleging their prediction market offerings constitute illegal gambling operations that violate state law. The complaints cite the platforms' own marketing materials as evidence, including Kalshi's Instagram ads calling it 'The First Nationwide Legal Sports Betting Platform.' The state alleges Kalshi generates over $1 billion annually from sports contracts, representing roughly 90% of its total revenue. The enforcement action follows a similar lawsuit by New York AG Letitia James and intensifies growing federal-state regulatory conflict over prediction markets.
