Not great
So, for those of you who missed it, Illinois just dropped its draft rules for their no good, very bad Digital Asset Tax and, y’all, it’s a mess, especially for DeFi.
The proposed rules would treat a DEX (not an interface, the protocol itself) that charges a “protocol fee” as a “broker” that must register with the state, collect a 0.2% tax on the full value of every swap by an Illinois user, and keep each user’s address, IP, and W-9. Effectively mandated KYC.
It also requires brokers to keep customers’ private keys… I don’t even know where to begin on that one.
Essentially a worse version of the repealed IRS broker rule.
Thankfully @BlockchainAssn, @crypto_council, and the @DigitalChamber have sued the state, but we need a full court press on this from a political and policy perspective.
It’s my personal #1 priority, because I doubt Illinois will be the last to try this.
And the actual victims get like $2 and a lifetime of living with the consequences
.@GoDaddy is such a garbage company
They cite a $770 renewal fee for .FUN domains in one email, and $70 in another
Would love to get cashback rewards from my @RobinhoodApp gold card in the form of stock tokens on Robinhood Chain
Jack Fitzpatrick retweeted
CME is ceding the battlefield.
CME did $6.5M in event contracts on Wednesday. Kalshi did $1.2B (200x).
FanDuel is leaving CME for crypto*com.
Rather than compete in perps, CME is suing the CFTC to stop them.
The old man outlived his era.
CME Group CEO Terry Duffy says some sportsbook-style prediction markets are "gambling" and don't belong in regulated financial markets.
The remarks came one day after CME certified additional sports event contracts.
Read more:
gamblinginsider.com/news/177…
Someone should formally study voter engagement as a function of prediction market activity. People with skin in the game pay attention. An engaged electorate is something to nurture, not punish
I really thought Polymarket would take back more ground via the world cup given their international presence but Kalshi was ready and has done a great job defending its rank. Still comfortably climbing and roughly 2x Polymarket's combined volumes
This is what it’s all about 🎯 hell yeah
Ice cream hedging via weather markets
Underdog beginning to self-certify
Definitely a team to watch as they begin to stand up their own exchange and unwind dependencies on third party DCMs like @cryptocom @Kalshi
Very curious to see how they perform
Today in @matt_levine's Money Stuff — firm files for a sports betting ETF where your funds are used to bet on sports
These kinds of vehicles are the future and the programmability of prediction markets will make them the most suitable home for this kind of innovation long-term
Eventually we will see a strategy meta where the best trading shops on the planet compete for liquidity by executing on a range of diversified strategies
This competition will breed a slew of new products. We'll see regional baskets, single team strategies, city baskets, etc.






















