Wisconsin Sues Kalshi, Coinbase, Polymarket, Robinhood and Crypto.com Over Prediction Markets
CoinCentral·60-word summary·1 min read
Wisconsin has sued Kalshi, Coinbase, Polymarket, Robinhood, and Crypto.com, claiming their prediction markets are unlicensed gambling. The state filed three complaints on April 24, 2026, arguing that "event contracts" are wagers under Wisconsin law and that the platforms operate without proper gambling licenses. The lawsuits challenge the legality of these prediction markets as financial instruments.
On April 23, U.S.-listed spot Ethereum ETFs experienced $75.94 million in outflows, ending a 10-day streak of inflows. Despite this reversal, the total net inflows for the segment remain at $12.08 billion, indicating sustained investor interest. The outflows suggest a short-term shift in sentiment, but overall participation in Ethereum ETFs remains strong.
U.S. spot Bitcoin ETFs saw $223.21 million in net inflows on April 23, marking the eighth consecutive day of positive flows. Despite a slight decrease from the previous day's $335.82 million, the streak highlights ongoing institutional demand for Bitcoin ETFs. The inflows have persisted since April 14, reflecting steady capital movement into crypto investment products.
Institutional investors have poured $2 billion into Bitcoin ETFs over just eight days, indicating strong interest despite skepticism in prediction markets. This rapid inflow highlights growing institutional confidence in Bitcoin investment products, potentially signaling future market shifts. The trend underscores the increasing mainstream acceptance of crypto ETFs as a viable asset class.
Hana Financial Group has secured a six-institution consortium to lead Korea’s stablecoin race, including BNK Financial, iM Financial, Standard Chartered First Bank Korea, OK Savings Bank, and JB Financial Group. This move aims to establish dominance amid regulatory limits, with Hana Financial positioning itself early in the emerging bank-backed stablecoin market in South Korea.
European regulators, including EBA and ESMA, assert that DeFi projects are not exempt from MiCA regulations, despite claims of decentralization. They focus on operational control rather than technical architecture, making the "fully decentralized" exemption narrowly applicable. This interpretation emphasizes that DeFi projects must comply with MiCA if regulators determine they retain operational control, challenging the notion of complete decentralization.
Former President Donald Trump has moved to reclassify medical marijuana, creating regulatory uncertainty that impacts prediction markets. The decision, announced in April 2026, has delayed potential economic benefits from legalization and has caused market confidence to waver. The move underscores ongoing policy debates surrounding cannabis regulation and its influence on the crypto and prediction markets.