Following the success of Kalshi and Polymarket, major firms such as Coinbase and Gemini have moved to enter the prediction markets space.
Crypto pundit Crypto Wimar has explained why the Bitcoin, Ethereum, and XRP prices crashed, highlighting the continuous selling pressure. The crypto market is also at risk of further downward pressure due to macro factors such as the impending Japan rate hike. Why The Bitcoin, Ethereum, And XRP Prices Crashed In an X post, Crypto Wimar revealed that Wintermute has dumped 40% of its holdings over the last three weeks, which has contributed to the crash in Bitcoin, Ethereum, and XRP prices. The crypto pundit further noted that the market maker is still dumping millions in BTC and ETH on Binance, which puts these coins at risk of further declines. Related Reading: What’s Happening With The Bitcoin, Ethereum, And Dogecoin Prices Recently? The Bitcoin, Ethereum, and XRP prices are also crashing as crypto market investors brace for a Japan interest rate hike by the BOJ at their December 19 meeting. Polymarket data shows that there is currently a 97.4% chance that the BOJ will increase rates by 25 basis points. A Japan rate hike impacts the crypto market as it puts the yen carry trade in focus, with investors moving to sell their assets before the yen strengthens and their debt becomes more expensive. Meanwhile, it is worth mentioning that the Bitcoin, Ethereum, and XRP prices have crashed after every Fed rate cut this year. This similar price action is playing out as the Fed lowered rates by 25 bps last week. These crypto assets had seen a notable rebound prior to the Fed rate decision last week, indicating that the cut was already priced in. Demand for Bitcoin, Ethereum, and XRP also appears to be dwindling, even among institutional investors. Crypto analytics platform CryptoQuant stated that Bitcoin treasury growth is losing momentum, noting that the accumulation pace is slowing despite the fact that 117 new companies added BTC to their treasuries this year. Ethereum treasury company BitMine is also the only company that has continued to accumulate ETH at an impressive pace amid this market downturn. BTC At Risk Of Drop Below $50,000 Crypto analyst Titan of Crypto has indicated that the Bitcoin price could still drop below $50,000, which also puts Ethereum and XRP at risk of crashing. In an X post, the analyst raised the possibility that a BTC bear pennant is forming. Related Reading: Why Is The Bitcoin Price Down Again? Analyst Calls Out Trading Desk For Triggering Crashes He noted that this is not a structure that market investors will typically want to see in a bull market. Titan of Crypto added that the structure is still developing, but it is one that is worth monitoring closely. Meanwhile, the analyst’s accompanying chart showed that the Bitcoin price could drop below $50,000 as soon as February next year. It is worth mentioning that veteran trader Peter Brandt had also earlier predicted that BTC could drop below $50,000 based on his belief that the flagship crypto is already in a bear market. Featured image from Getty Images, chart from Tradingview.com
The bank said event markets are still tiny versus stocks but are rapidly expanding beyond sports into macro and policy risk.
The CFTC granted the operators of Polymarket, PredictIt, Gemini and LedgerX permission to skip certain recordkeeping requirements.
Once mired in legal trouble that included federal probes and law enforcement raids, Polymarket founder and CEO Shayne Coplan has emerged victorious this year, casting off the yoke of regulatory scrutiny and growing the prediction market he founded into a $9 billion betting empire.
The chief executives of firms such as Gemini and Kraken will pitch in on U.S. policy efforts through the council's future, public discussions.
The prediction market’s move toward internal market making could blur the line with sportsbooks and undermine the platform’s neutrality, experts warn.
Between Kalshi and Polymarket, the two prediction markets platforms have generated a cumulative volume exceeding $45 billion.
Armed with CFTC approval, Polymarket has launched its mobile platform for sports and proposition markets under federal oversight.
Kalshi data will be integrated across CNN programming, and will be used by its newsroom, data and production team.
If you open your brokerage this year and a “Markets” tab seems to be sprouting unfamiliar yes/no questions (“Will the Fed cut rates in March?”, “Will a major ETF get approved this quarter?”), you wouldn’t necessarily be hallucinating. The recent regulatory green-light for Polymarket via a cleared path under its newest acquisition of an exchange […]
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The first thing many Ukrainians check in the morning is not Instagram or email, it is a war map. DeepStateMap.Live, a volunteer-built OSINT project, shows which villages are under occupation, where Ukrainian advances hold, and where the front looks fragile. It’s a survival tool as much as a news product, funded by donations and backed […]
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Market share data shows the pair now dominates sector-wide flows, forming a fast-consolidating duopoly amid growing capital formation.
Prediction markets have quickly become one of the hottest private market themes in crypto and fintech, echoing earlier cycles.
The CFTC issued an amended order allowing Polymarket, a crypto-based prediction-market platform, to resume operations in the U.S.
Polymarket’s amended CFTC designation paves the way for the prediction-market platform to formally reopen in the U.S. with a fully regulated exchange structure.
Polymarket and Kalshi are the two dominant prediction market platforms, which have seen around $42.4 billion in cumulative volume.
The CFTC-regulated exchange is gaining ground on crypto-native Polymarket, offering event contracts with fiat access and legal clarity.
A fast reset in downside odds mirrors QCP’s warning of flat-footed pro desks, with Glassnode highlighting oversold momentum and moderating ETF outflows.
TKO inks multi-year pact with Polymarket, bringing real-time sentiment tracking to UFC and Zuffa Boxing broadcasts.
The FanDuel Predicts app is set to offer event contracts on sports, crypto prices and other benchmark assets, according to the release.
This marks a milestone for Polymarket, which left the US due to an enforcement case with the Commodity Futures Trading Commission.
The founder of the prediction marketplace spoke at Cantor Fitzgerald’s crypto, AI and blockchain conference in Miami.
The news comes a week after Google said it will integrate predictions data from Polymarket and Kalshi directly into its search results.
Analysts cite a healthier structure for bitcoin while prices hold above $105,000, supported by easing macro risk and institutional inflows.
Polymarket traders see a 96% chance the record-long shutdown ends by mid-November, as the Senate passes a deal and pressure mounts on House Republicans to act.
Nearly 60% of weekly trades in December 2024 were flagged as likely wash trading, with coordinated networks of 43,000 wallets detected.
For the first time, users can access live market odds on future events directly in Google Search and Google Finance, elevating blockchain-powered forecasts into public view.
‘fuxfux007’ lost nearly $969,169 making a bold bet against New York City mayoral candidate Zohran Mandami.
Led by Polymarket and Kalshi, prediction markets have become a high-growth sector within digital assets as they let users wager on events.