Gemini taps SpaceXAI to develop personalized prediction markets feed

This case underscores the legal risks of exploiting corporate data in prediction markets, potentially tightening regulatory scrutiny on such platforms. The post Google engineer charged with insider trading on Polymarket after $1.2M in alleged profits appeared first on Crypto Briefing.

Institutional interest in prediction markets raises questions around liquidity, market depth, event risk and the line between trading and betting.

The post States have lost $1 billion due to prediction markets: Gaming association appeared on BitcoinEthereumNews.com. The American Gaming Association now estimates that states have missed out on more than $1 billion in tax revenue due to the rise of prediction markets.  In an appearance on CNBC’s “Squawk Box” detailing the estimate, association president and CEO Bill Miller said that the lost money has consequences for communities due to the taxes states collect on regulated gambling.   “It’s about states and tribes that are losing literally a billion dollars today in state and tribal revenue that would otherwise go to fund important community projects,” he said, referencing the consequences it has on Native American casinos’ revenues too.  Miller — whose organization is an advocate for casino operators, manufacturers and employees — said prediction markets amount to “backdoor sports betting.” The only difference, in his view, is that they aren’t regulated in the same way as sportsbo

“The future of AI should be accessible, available, and open to people and builders everywhere, and it should not require an absurd amount of resources only available to a handful of cloud providers,” Paolo Ardoino, CEO, Tether. About 700 million people use generative AIs like Gemini and ChatGPT weekly, but adoption is far from uniform. McKinsey’s 2025 State of AI survey found that nearly half of respondents from companies with more than $5 billion in revenue have reached the AI scaling phase, compared with just 29 percent of those from companies with less than $100 million in revenue, a gap that only widens further down the chain, locking out smaller businesses, developers, and everyday users. Retail and small businesses are limited to basic AI utilities that their facilities can power, such as text-based inference and multimedia generation, using base models. That is billions of end users, and developers locked out of full utilization and development of intelligent software due to hi

The post Spain Blocks Polymarket and Kalshi Amid Gambling License Investigation appeared on BitcoinEthereumNews.com. Spain blocks Polymarket and Kalshi amid gambling licence investigation actions. Regulators treat prediction markets as gambling requiring strict approval rules. Global pressure grows as countries restrict prediction market platforms expansion. Spain intensified its crackdown on prediction market platforms after regulators blocked domestic access to Polymarket and Kalshi during a new gambling licence investigation. Authorities believe both companies may have operated illegally in the country without securing approval from Spanish regulators. Consequently, the dispute adds fresh pressure on a rapidly growing sector that already faces mounting restrictions across Europe and beyond. Spain’s Ministry of Consumer Rights confirmed Tuesday that it opened disciplinary proceedings against the two US-based platforms. Officials stated that prediction markets fall under gambling regu

The post CFTC Moves to Overturn $5 Million Gemini Penalty Following Internal Investigation appeared on BitcoinEthereumNews.com. Key Takeaways Federal regulator requests reversal of Gemini’s $5M civil penalty settlement. Internal review reveals significant evidentiary problems in original case. CFTC and Gemini jointly petition court to vacate settlement provisions. Whistleblower testimony used in case now deemed unreliable by agency. Original enforcement action failed to satisfy updated compliance standards. The Commodity Futures Trading Commission has petitioned a federal judge to dismantle substantial portions of its concluded enforcement action against Gemini Trust Company. This unprecedented request comes after a comprehensive internal examination uncovered fundamental flaws in the investigation’s foundation. The development raises broader questions about how cryptocurrency enforcement actions were previously conducted and evaluated. Federal Agency Reassesses Crypto Enforcement Acti

The post CFTC Says Gemini Lawsuit Should Never Have Been Filed appeared on BitcoinEthereumNews.com. In a joint court filing, both parties asked a federal court to vacate the January 2025 settlement tied to Gemini’s proposed Bitcoin futures contract. The regulator said the original case relied heavily on a whistleblower whose credibility is now being questioned and argued that continuing the settlement’s remaining provisions would not serve the public interest.  CFTC Moves to Undo Gemini Crypto Case The US Commodity Futures Trading Commission (CFTC) now wants to reverse its own enforcement action against crypto exchange Gemini after concluding that the case likely would not have been filed under the regulator’s current standards. In a joint motion that was submitted Wednesday in a Manhattan federal court, both the CFTC and Gemini requested that the court vacate the January 2025 consent order that settled allegations related to Gemini’s proposed Bitcoin futures contract. Earlier this yea

The case highlights increasing regulatory scrutiny on prediction markets, potentially leading to stricter compliance measures and enforcement. The post Google engineer charged with insider trading on Polymarket for $1.2M in profits appeared first on Crypto Briefing.