Polymarket gets CFTC approval for access to U.S. markets
In breaking news, Polymarket received an Amended Order of Designation from the CFTC this morning, giving the prediction market the ability to onboard brokerages and customers in the United States. The competition in prediction markets only continues to heat up… For example, see story below, or the announcement of The Clearing Co, a new prediction market-focused startup from ex-Kalshi execs.
Galaxy Digital (GLXY) ‘Experimenting’ in Prediction Markets
Bloomberg reports Galaxy Digital is in talks with Polymarket and Kalshi about becoming a liquidity provider on their platforms, with CEO Mike Novogratz saying the firm has already begun small-scale market-making experiments and aims to expand. So potentially GLXY gets a new revenue stream, while the venues get tighter markets and reliability needed to go mainstream. Read more →
Crypto VC Update
Crypto venture capital activity in the third quarter of 2025 remained depressed compared to prior bull market levels according to new research from Galaxy. Still, the market looks healthy overall. In Q3:
Investment was $4.59 billion (-59% QoQ) across 414 deals (-15% QoQ)
56% of the capital invested went to just seven later stage deals (Revolut, Kraken, Erebor, Treasury, Fnality, Mesh Connect, and ZeroHash)
Klarna Unveils KlarnaUSD Stablecoin Link»
Kraken pushes Krak as a bank alternative with new cashback debit card, salary deposits and high-yield vaults Link»
Wallet provider Exodus acquires W3C for $175 million Link»
Bitcoin ETFs shed $58B, dropping faster than BTC Link»
Bitcoin mining in China rebounds, defying 2021 ban Link»
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