Connecticut Orders Kalshi, Robinhood, Crypto.com to Cease Sports Betting

Connecticut has issued cease-and-desist orders to Kalshi, Robinhood, and Crypto.com for engaging in illegal sports wagering activities. This enforcement action underscores the state's commitment to regulating online gambling and ensuring compliance among fintech platforms.

Chainlink (LINK) has gained significant attention following the launch of the first U.S. Chainlink-focused ETF by Grayscale, which resulted in a price surge of over 20% within 24 hours, bringing LINK to approximately $14.4. The ETF, which debuted on NYSE Arca, recorded more than 1.17 million shares traded on its first day, indicating strong market participation and interest.

Kalshi co-founders Luana Lopes Lara and Tarek Mansour have achieved billionaire status following a recent $1 billion funding round led by Paradigm, marking Lopes Lara as the youngest self-made female billionaire. This funding elevates Kalshi's valuation to $11 billion, positioning it as a significant player in the prediction market sector.

Macro strategist Alex Krüger has linked Bitcoin's future performance to anticipated changes at the Federal Reserve in 2026, suggesting that a shift towards a more dovish monetary policy under a Trump-aligned central bank could significantly impact asset returns, particularly for Bitcoin. Krüger posits that the current market is underestimating the potential for a substantial drop in US interest rates.

Kalshi has been appointed as CNN’s official prediction market partner, enabling real-time event forecasting through its regulated platform. This collaboration aims to enhance CNN's ability to provide accurate predictions on various events, leveraging Kalshi's expertise in the prediction market sector.

Kalshi has transitioned its event contracts to the Solana blockchain, marking a significant shift in the operation of prediction markets by integrating U.S.-regulated platforms into decentralized finance. This move aims to enhance liquidity and attract a broader user base within the cryptocurrency community.

Kalshi has successfully raised $1 billion in its latest Series E funding round, resulting in a valuation of $11 billion. This funding comes after the prediction market platform experienced its highest trading volumes to date last month, indicating strong market interest and engagement.

Kalshi has launched on-chain event contracts integrated with the Solana blockchain, enhancing its platform for prediction markets. This move allows users to engage with decentralized event contracts, tapping into the growing cryptocurrency liquidity. The integration is seen as a significant step in expanding Kalshi's offerings in the prediction market sector.