The U.S. Commodity Futures Trading Commission and Department of Justice filed lawsuit against Illinois, Arizona, Connecticut and various state officials on Thursday over the state’s efforts to shutter prediction market providers. Illinois, alongside numerous other states, sent cease-and-desist letters to some prediction market providers, arguing that the companies were offering sports gambling products that should…

Polymarket said it expects to roll out a new 1:1 USDC-backed collateral token in the coming weeks as part of a broader overhaul of its trading platform, according to a post on X. The upgrade, described by the company as a “full exchange upgrade,” includes a rebuilt trading engine, updated smart contracts and a new…