The CFTC sued Kentucky after the state targeted prediction markets Kalshi and Polymarket, marking the agency's ninth such lawsuit and the first against a state with a Republican attorney general. The dispute centers on whether event contracts fall under federal CFTC jurisdiction or state gambling regulations, with 20 states now involved in related litigation.
The state is the first with a Republican attorney general to face a CFTC lawsuit.
Coleman described the companies as multi-billion dollar corporations whose legal fictions do not pass scrutiny.
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The US Treasury published a proposed rule on October 22, 2026 to implement the COINS Act, widening limits on US investment in sensitive tech in countries of concern. Separately, DHS ordered DeepSeek products excluded and removed from federal civilian agency systems. The Treasury rule is not final; comments are due December 7.
CoinTelegraph reports on a proposed US accounting change for stablecoins, an FSB letter warning G20 officials about stablecoin oversight gaps and AI risks, and XRP Ledger developers defending a September emergency patch that bypassed the usual vote.
The SEC advanced regulations permitting investment advisers and funds to custody crypto assets under defined conditions, establishing a regulatory path following the Clarity Act blockage last month.
California Governor Gavin Newsom signed legislation barring public officials from issuing memecoins and prohibiting companies from using officials' likenesses in such coins. The rules were motivated by reports of roughly one million investors losing an alleged $3.8 billion on a 2025 presidential memecoin.
Kalshi is in advanced talks with Sequoia Capital and Wellington Management to raise at least $750 million at a $40 billion valuation. The round would nearly double its May valuation while the company reports $4 billion in annualized revenue and eyes a 2027 IPO.
