The U.S. Commodity Futures Trading Commission has sued Wisconsin, escalating its legal push to block state action against federally regulated prediction market platforms.

According to a statement from the Commodity Futures Trading Commission, the lawsuit responds directly to Wisconsin’s recent complaints against Kalshi, Polymarket, Crypto.com, Robinhood, and Coinbase, all of which operate prediction markets under federal oversight.

“States cannot circumvent the clear directive of Congress,” CFTC Chairman Michael Selig said, adding that similar warnings have been issued to New York, Arizona, and other states pursuing comparable enforcement. 

“Our message to Wisconsin is the same as to New York, Arizona, and others: if you interfere with the operation of federal law in regulating financial markets, we will sue you.”

Filed alongside the Civil Division of the U.S. Department of Justice in a Wisconsin federal court, the complaint argues that event-based contracts listed on registered exchanges fall under the agency’s “exclusive jurisdiction” as designated contract markets. The filing states that Wisconsin’s attempt to apply gambling laws “intrudes on the exclusive federal scheme Congress designed to oversee national swaps markets.”

The regulator has asked the court to declare that state gambling statutes do not apply to CFTC-regulated platforms and to issue a permanent injunction preventing Wisconsin from pursuing enforcement actions.

State lawsuits collide with federal oversight claims

Wisconsin’s legal action, filed days earlier, targets the same set of platforms over contracts tied to real-world outcomes, including sports events. In complaints reviewed from Dane County filings, state prosecutors argue that users place money on event outcomes and receive fixed payouts, a structure Attorney General Josh Kaul described as falling within the state’s definition of betting. 

“Thinly disguising unlawful conduct doesn’t make it lawful,” Kaul said in the earlier case.

State filings also cited marketing language from platforms, including descriptions framing their services as nationwide betting systems, while pointing to transaction fees collected on trades as comparable to casino revenue models.

Federal regulators and industry participants have rejected that framing. The CFTC’s complaint reiterates that such contracts qualify as swaps under federal commodity law, a position that has also been supported in prior litigation, including a ruling from the United States Court of Appeals for the Third Circuit that treated the regulator’s decision not to block certain contracts as effectively resolving jurisdictional questions.

Wisconsin’s case adds to a growing list of state-level actions. According to prior filings, New York Attorney General Letitia James has sued Coinbase Financial Markets and Gemini Titan over similar products, while authorities in Arizona, Connecticut, Illinois, Massachusetts, and Nevada have issued enforcement actions ranging from lawsuits to cease-and-desist orders.

The CFTC’s suit against Wisconsin becomes its fifth case against a U.S. state this month, following earlier actions against New York, Arizona, Connecticut, and Illinois, as the agency continues to argue that regulation of prediction markets rests solely at the federal level.

Robinhood’s shares slid 9.4% in after-hours trading after its first-quarter results failed to meet consensus estimates, with crypto revenue and trading volume trending materially lower year over year. The results underscore how a sluggish crypto environment continues to weigh on the platform, even as the company doubles down on infrastructure investments and new product lines.

In the quarter, Robinhood reported crypto transaction revenue of $134 million, down 47% from $252 million a year earlier, while crypto trading volume declined 48% to $24 billion. The firm posted earnings per share of $0.38 and revenue of $1.07 billion, both modestly below analysts’ expectations, contributing to the after-hours stock pullback. Net income rose 3% year over year to $346 million, reflecting strength elsewhere in the business during a challenging crypto cycle.

According to the company’s Q1 earnings report, the declines in crypto revenue and activity were largely tied to broad price swings in the crypto markets. Yet Robinhood’s leadership remains focused on longer-term bets around crypto infrastructure and assets with real-world utility. CEO Vladimir Tenev framed the current softness as a transitory phase within a broader shift toward more foundational crypto technologies, saying, “Price moves up and down, but what I can tell you is crypto as technology infrastructure is going to be big, and we’re investing. We’re at the very beginning of what’s gonna be a tokenization supercycle.”

Robinhood is among several retail trading platforms using the bear market to broaden their blockchain portfolios and diversify revenue beyond traditional stock trading. The company has positioned itself as a developer of crypto infrastructure while expanding into tokenized and prediction-based offerings that aim to broaden user engagement and utility on the platform.

Key takeaways

• Crypto transaction revenue declined 47% year over year to $134 million, and crypto trading volume fell 48% to $24 billion in Q1, reflecting ongoing market headwinds.
• Overall Q1 results missed market expectations: earnings per share of $0.38 and revenue of $1.07 billion were below consensus by about 11.6% and 6.1%, respectively, while net income rose 3% to $346 million.
• Robinhood’s Predictions market, operated through Kalshi, traded 8.8 billion event contracts in Q1, up 780% from the previous year’s period as the platform prompts higher engagement with forecast-based trading.
• The company’s broader “other” trading category surged, rising 320% year over year to $147 million, helping offset crypto-related softness. Bitstamp, Robinhood’s acquired exchange, generated $42 billion in trading volume in Q1, though this was down 13% from Q4 2025.

Predictions platform anchors growth expectations

Robinhood’s foray into prediction markets—through a platform tied to Kalshi—illustrates the company’s pivot toward diversified revenue streams that leverage its existing retail base. The Q1 data show robust activity on the predictions frontier, with an implied trajectory of higher trading volumes in the near term. Tenev signaled ambition for continued growth in this area, suggesting that the product could become a more meaningful contributor to overall platform activity as users experiment with event-based contracts and forecast markets.

In a separate note, Robinhood projected that April trading volume for the Predictions product could reach around $3 billion, a figure that would mark a strong month relative to its rollout in March 2025. The momentum in this segment underscores how the company is attempting to balance crypto-related declines with non-crypto revenue streams that leverage its large retail audience.

Bitstamp and the revenue mix

Notably, Bitstamp’s activity is not included in the crypto revenue line, even though the exchange represented a material portion of Robinhood’s crypto footprint since its acquisition in June 2025. Bitstamp reported $42 billion in trading volume for the quarter, representing a 13% drop versus the previous quarter. The inclusion of Bitstamp’s data in overall platform results highlights how the company’s crypto ambitions extend beyond on-site retail activity to more institutional-grade and cross-product infrastructure.

Meanwhile, the “other” trading category—encompassing products such as Robinhood Predictions—posted a strong 320% year-over-year surge to $147 million in Q1. This counterbalancing strength points to a broader strategy: reduce reliance on the volatility-prone crypto economy by building complementary products that appeal to a wide retail audience seeking diverse ways to trade and speculate.

Strategy in a bear market: infrastructure, utility, and tokenization

Robinhood’s leadership has repeatedly framed crypto as a foundational layer—an infrastructure bet rather than a pure retail trading play. In the current environment, with crypto prices moving irregularly and volatility subdued relative to peak cycles, the company is leaning into product areas that could drive structural growth over the long horizon. The tokenization narrative referenced by Tenev points to a broader industry shift—from spot trading and speculation to the securitization and digitization of traditional assets, financial products, and even everyday commodities.

For investors, the development signals a potential shift in how Robinhood monetizes its platform. While crypto revenue remains sensitive to market cycles, growth in Predictions and other trading products could offer steadier upside and broaden the company’s addressable market. The challenge will be sustaining user adoption and converting elevated engagement in these new products into durable revenue, especially as regulatory interpretations of tokenization and prediction markets continue to evolve.

What the numbers imply for Robinhood’s roadmap

The Q1 results illustrate a company navigating a bifurcated landscape: crypto economics that are still recovering from a cyclic downturn and non-crypto offerings that are growing rapidly enough to offset some of the weakness. The combination of crypto softness with strong performance in non-crypto trading lines suggests that Robinhood’s multi-product strategy could help stabilize revenue over time, even as it remains exposed to the volatility of the crypto market.

As the company continues to invest in crypto infrastructure—while pursuing real-world utility assets—the path forward will likely hinge on three levers: the pace of user adoption for tokenization and related services; the scalability and profitability of the Predictions platform and other non-crypto products; and the ability to integrate Bitstamp’s activity into a cohesive, compliant revenue engine that complements retail trading activity.

Readers should watch for follow-up cues in the next earnings cycle regarding user growth in non-crypto products, changes in crypto usage as market conditions evolve, and any regulatory developments that might influence tokenization and prediction-market offerings. The evolving balance between riskier crypto revenue and more diversified income streams will shape Robinhood’s trajectory as it extends its reach beyond a single asset class into a broader, multi-product fintech platform.

Google has entered into an agreement with the U.S. Department of Defense to provide its artificial intelligence models for use on classified systems.

According to The Information, citing a person familiar with the matter, the Pentagon can deploy Google’s AI tools for “any lawful government purpose” under the terms of the deal. The arrangement places Google alongside OpenAI and xAI, both of which have also secured contracts to supply AI models for classified use.

Such classified networks support highly sensitive operations, including mission planning and weapons targeting, where access to advanced AI systems is increasingly seen as critical.

The agreement is part of a wider push by the Pentagon, which in 2025 signed contracts worth up to $200 million each with leading AI developers, including Anthropic, OpenAI, and Google. Earlier reporting from Reuters indicated that defense officials had been urging AI firms to make their systems available on classified networks without the usual user-facing restrictions.

AI safeguards and usage restrictions

As part of the contract, Google is expected to assist in modifying its AI safety filters at the government’s request, the report said.

The agreement includes explicit safeguards stating that “the AI System is not intended for, and should not be used for, domestic mass surveillance or autonomous weapons (including target selection) without appropriate human oversight and control.”

At the same time, the terms clarify that Google does not have the authority to “control or veto lawful government operational decision-making,” leaving final use decisions in the hands of defense officials.

Google said it continues to support government agencies across both classified and unclassified work. A company spokesperson added that it remains aligned with the view that AI should not be used for domestic mass surveillance or autonomous weapons without human oversight.

Friction over AI usage boundaries

The Pentagon has maintained that it does not intend to deploy AI for mass surveillance of Americans or for fully autonomous weapons, while still insisting that “any lawful use” of AI should remain available to the government.

That position has created friction with some AI providers, most notably Anthropic. The company resisted earlier Pentagon demands to remove safeguards from its Claude models that restrict use in autonomous weapons and domestic surveillance.

The dispute escalated to the point where the Defense Department labeled Anthropic a “supply chain risk,” even as interest in its technology persisted within government agencies.

Additional reporting suggests that internal demand has complicated the Pentagon’s stance. The National Security Agency has reportedly secured access to Anthropic’s advanced “Mythos Preview” model despite the designation. The model, known for its strong cyber capabilities, is being used by select organizations to identify vulnerabilities in digital systems.

The situation has led to a broader standoff between AI developers and defense officials over how far usage rights should extend, especially around the scope of “all lawful purposes” and the limits of safety guardrails in military environments.

The US Commodity Futures Trading Commission on Tuesday sued the state of Wisconsin in the agency’s latest effort to assert jurisdiction over prediction markets after the state sued multiple platforms.

The CFTC said in a statement that it filed the lawsuit against Wisconsin “in response to the state’s lawsuits against Kalshi, Polymarket, Crypto.com, Robinhood, and Coinbase, five CFTC-regulated prediction markets.”

“States cannot circumvent the clear directive of Congress,” CFTC Chairman Michael Selig said. “Our message to Wisconsin is the same as to New York, Arizona, and others: if you interfere with the operation of federal law in regulating financial markets, we will sue you.”

It is the agency’s fifth lawsuit against a US state that seeks to halt action against prediction markets. The CFTC sued New York on Friday and filed lawsuits against Arizona, Connecticut, and Illinois earlier this month after the states sued prediction market platforms.

Michael Selig speaking on stage at Bitcoin 2026 in Las Vegas on Monday. Source: YouTube

Wisconsin sued the five companies on Thursday, and like many US state authorities, argued that prediction markets offering sports-related event contracts are illegal betting that requires state gaming licenses.

It is an assertion the platforms and the CFTC have rebuffed in the past, arguing the contracts are regulated only under federal law.

The CFTC argued in its latest complaint, filed alongside the Justice Department’s Civil Division in a Wisconsin federal court, that it has “exclusive jurisdiction” over the event contracts on prediction markets, regulated as designated contract markets under federal law.

Related: With no bipartisan leadership, CFTC won’t ‘slow down‘ on rulemaking

“Wisconsin’s attempt to criminalize and shut down federally regulated markets intrudes on the exclusive federal scheme Congress designed to oversee national swaps markets,” the CFTC wrote in its complaint.

The agency asked the court to rule that state gambling laws do not apply to CFTC-regulated designated contract markets and issue a permanent injunction prohibiting Wisconsin from taking action against prediction markets.

The CFTC’s complaint also named Wisconsin Governor Anthony Evers, Wisconsin Attorney General Josh Kaul and the Wisconsin Gaming Division and its administrator, John Dillett.

The Wisconsin Department of Justice, the state’s Division of Gaming and Governor Evers’ office were contacted for comment.

Magazine: How to fix suspected insider trading on Polymarket and Kalshi

Solana price has been consolidating within the $75-$100 range since early February this year. Now, a confirmed breakout from a descending parallel channel puts the asset in a position to challenge higher resistance levels after months of sideways movement.

After climbing to a month high of $90.3 on April 17, Solana (SOL) price fell nearly 8% to $83 amid profit taking by investors and a broader rotation away from risk assets amid concerns over stalled U.S.-Iran peace negotiations and rising oil prices. The 7th largest token has fallen nearly 33% so far since the beginning of this year. 

Despite this significant drop, its charts have now flashed a bullish signal for the medium term. 

On the daily chart, Solana price has broken out of a multi-year descending parallel channel from mid-September last year. A breakout from such a pattern has historically led to a shift in market sentiment from bears back to bulls. 

In Solana’s case, the breakout positions Solana for a steady upside in the coming weeks with a potential rally to as high as $155, a level calculated by adding the height of the channel to the point of breakout.

However, other technical indicators suggest some caution ahead of the next leg higher. Notably, the supertrend has flipped red, which means the immediate short-term trend remains under selling pressure.

At the same time, the MACD lines have formed a bearish crossover, which has often been the precursor to further consolidation before a sustained move upward.

Meanwhile, a major bullish catalyst for the ecosystem is that Solana Company recently raised $8 million through a share sale to global institutional investors like Mirae Asset and HashKey Capital.

The development allows the digital asset treasury to significantly expand its holdings by purchasing additional SOL tokens directly from the market, providing a solid foundation of institutional demand.

Private companies are gradually moving past the early stages of experimenting with artificial intelligence, with many larger firms now beginning to report measurable returns from their investments.

According to a new survey by Deloitte, nearly two-thirds (64%) of private companies with an annual revenue of $500 million or more have achieved moderate to significant return on investment (ROI) from AI initiatives. This marks a sharp contrast from smaller firms, where only 11% reported such levels of returns.

The findings also bring to light a broader shift in how private companies are now approaching AI. More than half (52%) of the business leaders surveyed said that expanding AI use across their organizations is now a top-three priority for the next 12 months, a figure that has gone up significantly from 22% a year earlier.

At the same time, 63% of respondents said their organizations are actively investing in digital transformation initiatives, including AI, compared with 33% that remain in limited or pilot stages.

Scaling efforts and key challenges

Larger firms have been leading the charge in deployment. About 74% of higher revenue companies reportedly said they are expanding AI across select functions, compared with 38% of smaller firms.

The main business priorities driving this push are revenue growth at 71% and improved productivity at 62% as companies look to automate complex workflows.

Funding for these initiatives is largely coming from internal sources. Half of those surveyed said budget reprioritization will be their primary funding method, followed by existing operating capital at 43%.

Despite the progress, significant roadblocks still hinder full-scale implementation. Data quality and availability were cited as the biggest challenges by 72% of respondents. Other issues include gaps in AI skills and leadership (53%), integration with legacy systems (48%), and difficulty scaling projects beyond the pilot stage (48%).

The survey also found uneven oversight at the board level. While boards are generally active in areas such as technology investment and cybersecurity, fewer respondents said they are proactive in monitoring the ethical use of AI or leadership readiness for digital transformation.

The findings are based on a March 2026 survey of 100 U.S. private company leaders, including senior executives and board members.

XRP gains institutional attention as ETF inflows and market demand reshape crypto investment strategies.

Amidst Wall Street’s continued increase in crypto asset allocation, Bitcoin ETF inflows have surpassed $21 billion, signifying an unprecedented influx of mainstream capital into this market. 

However, what truly ignites a new wave of market imagination is not just Bitcoin itself, but the long-undervalued XRP. With a gradually clear regulatory environment, surging demand for cross-border payments, and growing institutional interest, XRP is transitioning from a “fringe asset” to a potential core allocation target.

In this trend, more and more investors are seeking strategies that can capture market growth while also providing risk hedging capabilities. For example, digital asset service platforms like XRP Power are offering users relatively stable participation paths through diversified product design and profit mechanisms, allowing them to achieve stable returns even in a volatile market environment. 

This combination of “growth + stability” may be the key to the next stage of competition in the crypto market.

Why choose XRP power for stable returns?

Regarding return sources, XRP Power utilizes a recycling mechanism based on green energy infrastructure (such as wind and hydropower) to provide continuous power support for system operation, thereby enhancing overall stability and efficiency. This model, combining physical energy and digital assets, helps enhance the sustainability and resilience of returns in volatile market environments.

In terms of security and compliance, XRP Power is headquartered in the UK and operates within a framework that references the EU’s MiCA (Crypto-Asset Market Regulation) and MiFID II (Markets in Financial Instruments Directive II), striving to align with international standards in transparency and investor protection. Furthermore, the platform incorporates a third-party guarantee mechanism; user assets are insured by Lloyd’s of London and undergo regular independent audits by PwC to enhance asset security and operational transparency.

Through this multi-layered structure of “underlying asset support + compliance framework + third-party audits,” the platform aims to build a relatively robust and sustainable return environment for users.

How to join XRP Power and start earning

1. Register an Account and Receive a New User Bonus

Quickly register an account using an email address. New users receive a $21 bonus upon registration as initial trial funds.

2. Choose a Suitable Earnings Plan

The platform offers various earnings contracts ranging from $100 to $100,000. Different contracts correspond to different earnings structures and periods, allowing users to flexibly choose according to their capital and risk tolerance.

3. Pay and Activate the Contract

Payment is supported through various mainstream digital assets, including USDT, USDC, Bitcoin, Ethereum, and XRP. The process is convenient, and funds arrive quickly.

4. Contract Activation and Earnings

After contract activation, the system will begin calculating earnings based on the selected plan and settle daily. Earnings will be automatically credited to your account balance. Users can choose to withdraw at any time or reinvest to increase potential earnings.

5. Popular Profit Contracts

Investment Amount: $1000 Investment Period: 7 days Daily Yield: $13.20 Total Profit: $92.40

Investment Amount: $5000 Investment Period: 15 days Daily Yield: $70.50 Total Profit: $1057.50

Investment Amount: $10000 Investment Period: 20 days Daily Yield: $153 Total Profit: $3060

Click to view daily profit details for different contracts.

6. The platform also offers user referral and team incentive programs to further enhance the diversity of profit opportunities. Users can earn long-term profit-sharing rewards by inviting friends to join the platform: enjoying a multi-tiered incentive structure of up to 3% + 2%, with increased potential profits from more referrals.

When a team reaches a certain size (e.g., more than 10 active members), users can unlock an additional monthly team reward mechanism, receiving more incentives based on the team’s overall performance.

This mechanism aims to encourage users to achieve both personal gains and team growth through sharing and collaboration, while simultaneously building a more active community ecosystem.

Summary

Since its launch in 2023, the XRP Power platform has expanded its business to 189 countries and regions worldwide, serving a continuously growing user base and gradually establishing its influence in the digital asset yield management field. The platform focuses on “user asset security and yield experience,” continuously improving its overall service capabilities through technological and mechanism optimization.

In terms of architectural design, XRP Power incorporates decentralized technology, ensuring key data is recorded on-chain and publicly verifiable, enhancing transparency and verifiability, allowing users to more clearly understand asset operations and yield sources.

Regarding the yield model, the platform strives to maintain relatively stable yield performance in different market environments through diversified strategies and risk mitigation mechanisms. Even in situations of increased market volatility, it is committed to providing users with continuous yield opportunities, rather than solely relying on market upturns.

For more details, please visit the official website.