A Prediction Market Just Doubled Its Valuation to $22B. It Took Five Months.
Three funding rounds in seven months. Annualized volume tripled to $178 billion. Five states are suing it. Coatue, Sequoia, and Morgan Stanley all wrote checks anyway.
Three funding rounds in seven months. Annualized volume tripled to $178 billion. Five states are suing it. Coatue, Sequoia, and Morgan Stanley all wrote checks anyway.
A compromised private key let an attacker automate withdrawals from Polymarket's UMA CTF Adapter on Polygon. ZachXBT flagged it first. Losses passed $700,000 before the team responded. Polymarket says user funds are safe. The attacker has already split the proceeds across 15 wallets.
The New York Times published an investigation on Sunday that lands like a grenade in the middle of the prediction market debate. The core finding: career…
A Polymarket contract asking whether Prabowo Subianto would leave power before 2029 went live on May 21. By May 22, Indonesia's Ministry of Communication had blocked the site nationwide. The government froze 33,000 bank accounts linked to online betting earlier this year. This is the second Asian country to ban Polymarket in a single week.
Spain's Consumer Rights Ministry ordered ISPs to block both platforms after finding they operate without gambling licenses. The ban follows a Polymarket contract on PM Sanchez leaving office and a Kalshi market pricing his exit at 29%. The block list now includes India, Indonesia, Brazil, Ukraine, France, Belgium, Australia, Portugal, Argentina, the Netherlands, and Spain.
Hyperliquid's HYPE token printed a fresh all-time high of $69.97, up more than 67% on the month. ETF inflows, fee-funded buybacks and a CFTC ruling are all feeding the same fire.
The Iran conflict didn't just move markets — it exposed how fragile the consensus around Bitcoin's identity had become. Between a hawkish Fed, $115 oil, and a correlation flip no one saw coming, the old rules are being rewritten in real time.
818,334 BTC. A $12.5 billion Q1 loss. An 11.5% dividend on preferred stock that needs to be paid somehow. Polymarket odds on a Bitcoin sale by year-end jumped from 10% to 82% in one week.
Chairman Mike Selig told a FINRA audience that the agency has signed a data-sharing deal with MLB and is now talking to every pro league about insider trading on prediction markets. The NFL, historically resistant, is finally at the table.
India's Ministry of Electronics ordered ISPs to block Polymarket. The site is already unreachable for Indian users. Local media reports say Kalshi is next. The government classifies all prediction markets as illegal online gambling.
While regulators blocked Polymarket in India, Indonesia, and Spain this week, Hyperliquid quietly shipped HIP-4 outcome contracts for real-world events. Users can now bet on CPI prints and Fed decisions from the same account they use for crypto perps. No external oracle. No UMA. Validators settle everything.
X's Head of Product Nikita Bier says the feature has already moved markets. Canada gets a pilot trading button through Wealthsimple. X Money's public launch looms in the background.
On-chain analysis links two accounts with a perfect pardon-betting record to the same deposit wallet. A Columbia Law professor who advises the DOJ on insider trading says the probability of these trades occurring by chance is "virtually zero."
The Finance Ministry blocked access to all major prediction market platforms while the central bank moved to outlaw the underlying derivative contracts.