# Сопутствующие статьи по теме Regulation

Новостной центр HTX предлагает последние статьи и углубленный анализ по "Regulation", охватывающие рыночные тренды, новости проектов, развитие технологий и политику регулирования в криптоиндустрии.

Bitcoin ETF Two Years On: The Financialization Journey from Breakthrough to Convergence

Two years after the launch of Bitcoin spot ETFs, the financialization of Bitcoin has accelerated significantly, with total assets under management (AUM) reaching $124.85 billion. The top five ETFs—IBIT, GBTC, FBTC, ARKB, and BITB—account for 96.6% of the market, highlighting strong institutional dominance. Trading volume surpassed $2 trillion, with the second trillion taking only 8 months compared to 16 months for the first. Bitcoin ETFs have significantly outperformed Ethereum ETFs in net inflows, reinforcing Bitcoin’s leading position in the crypto ETF market. The approval of Bitcoin spot ETFs in January 2024 marked a milestone after over a decade of regulatory scrutiny, reflecting maturation in market infrastructure, custody, and investor protection frameworks. Unlike the first gold ETF, which took years to gain traction, Bitcoin ETFs achieved rapid adoption, accelerating liquidity and institutional participation. ETFs have simplified Bitcoin investment, enabling regulated, accessible exposure without direct asset management. Major institutions like BlackRock and Fidelity have facilitated broader acceptance, integrating Bitcoin into mainstream portfolios and retirement plans. However, financialization introduces challenges, including Bitcoin’s inherent volatility and ETF management fees. Beyond price speculation, alternative participation methods like cloud mining offer cost-stable Bitcoin acquisition and support network infrastructure. In summary, Bitcoin ETFs have fast-tracked Bitcoin into the traditional financial system, signaling the start of a broader institutional adoption phase. The journey is far from over, with more structured financial products expected to emerge.

marsbit01/12 03:16

Bitcoin ETF Two Years On: The Financialization Journey from Breakthrough to Convergence

marsbit01/12 03:16

Disrupting the Billion-Dollar Gambling Industry, Prediction Markets Face Crackdown from the Established Order

Pioneering prediction markets like Polymarket, Kalshi, and Crypto.com’s Truth Predict are facing regulatory pushback in the U.S., particularly from state authorities overseeing sports betting. On January 9, the Tennessee Sports Wagering Council (SWC) issued cease-and-desist orders to these platforms, accusing them of offering illegal sports gambling products without state licensing, despite being registered with the CFTC as designated contract markets. The conflict stems from the rapid growth of both sectors. Since the federal ban on sports betting was overturned in 2018, 30 states—including Tennessee—have legalized online sports betting, generating billions in wagers and significant tax revenue. In 2024 alone, U.S. sports betting handle reached $148.74 billion, with taxes contributing $2.82 billion. Tennessee collected $97.16 million in taxes from sports betting in 2024. Prediction markets, which trade “event contracts” classified as financial derivatives under CFTC jurisdiction, have surged in popularity. Their 2025 trading volume hit $40 billion, a 400% increase from 2023, with sports-related contracts being the largest category. This growth threatens traditional sportsbooks, whose stocks have underperformed the market. Multiple states—including Maryland, Ohio, and Nevada—have taken action against prediction markets. Kalshi has challenged these actions in court, arguing federal compliance should preempt state regulations, but court rulings have been mixed. The legal battles are expected to escalate, potentially reaching the Supreme Court, as states defend their regulatory authority and tax base against what they perceive as unlicensed gambling operations.

marsbit01/12 02:55

Disrupting the Billion-Dollar Gambling Industry, Prediction Markets Face Crackdown from the Established Order

marsbit01/12 02:55

Disrupting the Billion-Dollar Gambling Industry, Prediction Markets Are Being Hunted by the Old Order

Prediction markets are facing regulatory crackdowns in the United States, particularly from state-level authorities overseeing the lucrative sports betting industry. The Tennessee Sports Wagering Council (SWC) recently issued cease-and-desist orders to platforms like Kalshi, Polymarket, and Crypto.com, demanding they halt sports-related prediction contracts for state residents. The SWC alleges these platforms are offering illegal gambling services without a state license, despite being registered with the federal Commodity Futures Trading Commission (CFTC) as designated contract markets. This conflict stems from the rapid growth of both sectors. Since the federal ban on sports betting was overturned in 2018, the legal U.S. sports betting market has exploded, reaching nearly $150 billion in total bets in 2024. Tennessee, which legalized online-only sports betting, collected over $97 million in tax revenue from it in 2024. Prediction markets, which frame their offerings as "event contracts" (financial derivatives under CFTC purview) rather than gambling, have seen even more explosive growth, with trading volume surging 400% to $40 billion in 2025, with sports-related contracts being the largest category. This creates a "regulatory arbitrage," allowing prediction markets to operate without state licenses, addiction controls, or high gambling taxes, directly competing with and eroding the tax base of the traditional sports betting industry. The friction is not isolated to Tennessee; multiple other states have taken similar action. Kalshi has challenged several states in court, arguing federal regulation preempts state law, but court rulings have been mixed and the issue is expected to eventually be decided by the U.S. Supreme Court. The core of the conflict is the fundamental similarity of the services offered versus their differing regulatory classifications, setting the stage for a prolonged legal battle over this grey area.

Odaily星球日报01/12 02:50

Disrupting the Billion-Dollar Gambling Industry, Prediction Markets Are Being Hunted by the Old Order

Odaily星球日报01/12 02:50

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