There are now two election-related betting contests legally trading on events-based marketplace Kalshi, following an opinion by a federal judge in favor of the company.
Why it matters: Hundreds of millions of dollars have already been wagered on this year's U.S. election, but all of those bets were made in a legal grey area, one that seems to have just become a lot more clear.
Blockchains show their feels like a sensitive teen at their first high school dance, and that was very much in evidence during Tuesday night's presidential debate.
Zoom in: The crypto world is praying it will get a break from Washington coming out of this year's national election.
And most of it wants a win by former President Trump because he's made his support very clear.
Driving the news: One could see those hopes getting dashed in real time, however, almost as soon as the debate began, by looking at various on-chain assets.
On Polygon, the prediction market Polymarket suddenly lost faith in crypto's champion, as Vice President Kamala Harris started confidently — and only became more so as she baited Trump into losing his cool.
This week Tether, the company behind the massive stablecoin, announced a crime-fighting partnership called the T3 Financial Crime Unit, aimed at spotting illicit use of its coin and freezing funds fast.
Between the lines: The timing might have something to do with a thorough report on the company published by the Wall Street Journal on Tuesday.
Russian oligarchs and weapons dealers shuttle tether abroad to buy property and pay suppliers for sanctioned goods. ... Yet in dysfunctional economies such as Argentina and Turkey, beset by hyperinflation and a shortage of hard currency, tether is also a lifeline for people.
DeFi Education Fund attorneyAmanda Tuminelli brought Smart Brevity vibes to a congressional hearing on decentralized finance this week.
What they're saying: "First, DeFi is different from and an improvement upon traditional finance, because it does not rely on intermediaries," Tuminelli told the subcommittee on digital assets on Tuesday
"Second, the existing approach of demanding that DeFi look like, function like or be treated like traditional finance has not and will not work."
💭 Our thought bubble: You can disagree with what she has to say, but you can't say she doesn't make her case with clarity.
Huge financial imbalancesbetween the U.S. and China can be chalked up to weaknesses in each nation's domestic economy — as opposed to being primarily driven by unfair Chinese trade practices, according to a new piece from International Monetary Fund economists.
Why it matters: The conclusion throws some cold water on the Biden administration's stance that China's practice of heavily subsidizing targeted industries is a central economic concern.
If the government succeeds in breaking up Big Tech, private equity is more likely to be a seller than buyer.
State of play: Google and the Justice Department are locked in a trial over allegations that the search giant's advertising business is anticompetitive. If the government wins, it will ask for divestitures.
BlackRock and Partners Group on Thursday announced a partnership to offer wealthy individuals a simpler way to access private markets.
Why it matters: The world's largest asset manager keeps pushing deeper into private equity, following its recent acquisitions of both Global Infrastructure Partners and Preqin.
⚡ Delek Logistics (NYSE: DKL) completed its $230m acquisition of H2O Midstream, a services firm focused on the Midland Basin in Texas, from EIV Capital. delekus.com
• Mastercard (NYSE: MA) agreed to buy Somerville, Mass.-based threat intelligence firm Recorded Future from Insight Partners and Pantheon for $2.65b. axios.link/4gfUWTH
Why it matters: It's the first sign that this summer's value wars will continue into fall as restaurant chains promote affordability to win consumers back.
Here's what's new on Prime Video, Hulu, Netflix, Paramount+, Disney + and Max.
What we're watching: A docuseries that dives into the business of college sports, a comedy from "Insecure" star Natasha Rothwell, and a new season of "The Circle."
Just over a quarter (25.6%) of U.S. renters are spending more than half their income on housing, according to Census data out today.
Why it matters: An excessive rent burden can make it harder to afford other basic needs, like groceries and transportation — or to save for a down payment that can turn rent checks to a landlord into mortgage payments towards home equity.
