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Kalshi's ban application was rejected, and a U.S. judge ruled that prediction markets do not take precedence over state gambling regulations

The Chief Judge of the U.S. District Court for the Southern District of Ohio, Sarah D. Morrison, ruled that there is no historical evidence indicating that Congress intended for federal law to take precedence over state regulation of sports gambling, and thus denied the preliminary injunction request filed by the prediction market platform Kalshi.Kalshi had previously sued the Ohio Casino Control Commission in an attempt to prevent it from taking enforcement action against the platform's event contracts under state gambling laws. Last year, the regulatory agency accused Kalshi of operating illegal sports gambling in Ohio.Kalshi argued that the event contracts it offers are derivatives regulated under the Commodity Exchange Act and should fall under the jurisdiction of the CFTC, thereby asserting that federal regulation should take precedence over state gambling laws.However, the judge stated that there is no evidence from historical and legislative context to suggest that Congress intended for the law to supersede state sports gambling regulations, noting that when the Dodd-Frank Act amended relevant laws in 2010, sports gambling was still widely restricted in the U.S.Kalshi announced that it would appeal the ruling. The case is seen as an important test of the legal status of prediction markets, and its outcome could affect the future compliance prospects of other prediction platforms in the U.S., including Polymarket.

Bitget appoints MotoGP champion Jorge Lorenzo as UEX Ecosystem Security Ambassador

On the occasion of Data Privacy Day, Bitget officially announces the appointment of MotoGP champion Jorge Lorenzo as its security ambassador. Both parties take this opportunity to launch a series of security education videos consisting of five modules, systematically explaining how to prevent phishing attacks, implement two-factor authentication, provide risk alerts, and understand core mechanisms such as the Bitget Protection Fund and reserve proof. This series uses Lorenzo's iconic "X-Fuera" racing perspective as a starting point to interpret how, within the UEX ecosystem, a broader vision and information access can enhance the safety and rationality of trading decisions.The related security education content is also linked to Bitget's anti-fraud center. This center will be launched in June 2025, continuously providing users with real-time fraud alerts and security tools. Currently, Bitget has a protection fund exceeding $300 million and insists on publishing monthly Merkle tree reserve proofs to ensure that user assets receive 1:1 full support.Jorge Lorenzo stated that both motorsport and the digital asset field need to achieve a precise balance between speed and security; Bitget CEO Gracy Chen also pointed out that through this collaboration, they hope to further enhance users' proactive awareness of digital asset security and promote continuous progress in the industry regarding transparency and security standards.

A network engineer was accused of stealing funds from a gambling website, and police in two locations have successively filed cases and seized 183 bitcoins

Shenzhen IT man Li Dong (pseudonym) has been targeted by the police from Hunan and Henan provinces. A large amount of Bitcoin was found in his virtual currency wallet. The public security organs of Zhangjiajie City in Hunan and Changge City in Henan have both filed investigations against Li Dong, with the charge of "operating a casino." The Zhangjiajie police seized over 100 Bitcoins from Li Dong's account, converting them into more than 40 million yuan; the Henan police seized 80 Bitcoins from him, with a market value exceeding 40 million yuan.Later, Li Dong was not charged with "operating a casino." He was prosecuted by the Changge City People's Procuratorate in Henan for suspected theft and infringement of citizens' personal information. In January 2026, the case was publicly heard in the Changge City Court. After the court adjourned, it stated that a new hearing would be scheduled. Li Dong, born in the 1980s, is a network information security engineer, having studied information security in college. He has worked in network security technology for several well-known internet companies and later settled in Shenzhen, where he started and operated an internet company in recent years.According to his family, Li Dong began trading stocks and cryptocurrencies around 2016 and acquired some Bitcoins. However, the police later investigated and believed that the source of his Bitcoins was from another "channel." In September 2024, the Hunan Zhangjiajie Public Security Bureau summoned Li Dong on suspicion of "operating a casino." It turned out that in May of that year, the Zhangjiajie police launched an investigation into an online gambling case based on "anonymous reports," and Li Dong was listed as a suspect. The Zhangjiajie police seized 103 Bitcoins from Li Dong's digital wallet, converting them into over 49.61 million yuan. Soon after, Li Dong was released on bail. On the seizure decision and the bail release document, the charge against Li Dong changed from "operating a casino" to "illegally obtaining data from computer information systems."
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