In brief Kalshi unveiled enforcement actions against three political candidates who had bet on their own elections. The individuals included one U.S. Senate hopeful in Virginia, who also backed a meme coin while running on a pro-crypto platform. As Democratic lawmakers push for tighter prediction market rules, Kalshi and Polymarket have detailed steps taken to…
In brief Xiaomi unveiled MiMo-V2.5 and V2.5-Pro, combining text, image, audio, and video capabilities into a single multimodal AI model. The Pro version rivals top frontier models in coding and agentic benchmarks, while significantly improving token efficiency and cost. The new models mark Xiaomi’s rapid AI push, with open-source plans and aggressive iteration following strong…
In brief Non-accredited investors can gain exposure to OpenAI, Anthropic, and xAI via AngelList’s new venture fund, USVC. The fund requires just a $500 minimum and is open to all U.S. investors. Data from the fund at the end of April notes investments in seven private firms, with the highest concentration belong to xAI. A…
In brief New York and Illinois banned government employees from using insider information to trade on prediction markets. The moves come as both states challenge prediction markets they say constitute illegal gambling platforms. Officials also criticized federal regulators for failing to police insider trading in the fast-growing sector. New York and Illinois became the latest…
In brief Pangram Labs flagged several posts from Pope Leo XIV’s official X account as AI-generated. The company’s Chrome extension scans product reviews, social media posts, and new articles in real time. Researchers say AI-generated or AI-assisted text now appears on more than one-third of new websites. Even the Pope’s warnings about artificial intelligence may…
In brief Google plans to spend up to $185 billion this year on AI and cloud infrastructure to power the “agentic era,” its CEO said. Sundar Pichai said nearly 75% of new code at Google is now AI-generated and approved by engineers. New deals with Citi, Thinking Machines, and a $750 million partner fund show…
Oracle network Pyth Network has been selected as the resolution data source for Kalshi’s expansion into commodities markets, underscoring the growing focus on reliable pricing infrastructure in event-based trading. Kalshi said on Wednesday that Pyth will supply real-time pricing data for its newly launched commodities hub, which debuted in April. The data will be used…
In brief UK Financial Conduct Authority led multi-agency raids on eight London premises suspected of illegal P2P crypto trading. Officers issued cease-and-desist orders requiring immediate cessation of unauthorized trading activities. The evidence gathered will support ongoing criminal investigations into suspected money laundering operations, the agencies said. The UK’s Financial Conduct Authority said Wednesday that it…
Thailand’s Securities and Exchange Commission (SEC) is seeking public comment on proposed rule changes that would allow licensed digital asset businesses to apply directly for derivatives licenses, removing the requirement to establish separate entities. The proposed revisions would build on earlier changes recognizing digital assets as eligible underlying assets for futures contracts, expanding the scope…
In brief In a lawsuit, Tron founder Justin Sun accused World Liberty Financial of trying to extort him into providing the DeFi project with more capital. Sun was allegedly told that he could either voluntarily remove his tokens from circulation or leave that up to WLFI’s holders to decide. Sun says he was wrongly accused…