Smaller Bitcoin treasury firms added 602.6 BTC worth about $46 million last week, even as the largest corporate holders appeared to pause their acquisitions.

The purchases included a 381.6 Bitcoin (BTC) acquisition by asset manager and Bitcoin treasury company Strive, 200 BTC bought by global consumer food brand DDC Enterprise Limited, 19 BTC acquired by UK-based web design company The Smarter Web Company (SWC), and 2 BTC bought by AI data center company Hyperscale Data.

The buying suggests corporate Bitcoin demand has not disappeared during the latest drawdown, but has shifted toward smaller treasury firms while market leader Strategy paused its usual weekly accumulation.

The purchases came as spot Bitcoin exchange-traded funds (ETFs) logged $1.54 billion in combined net outflows in the six trading days leading up to Friday, Farside Investors data shows.

However, crypto sentiment analysis platform Santiment called the mounting outflows a “counter-indicator,” arguing that ETFs disproportionately reflect retail investor sentiment, not smart money positioning, Cointelegraph reported on Saturday.

Strive FORM 8-K filed with the US Securities and Exchange Commission. Source: SEC.gov

Bitcoin treasuries bought the BTC dip below $80,000

The Bitcoin treasury companies made their acquisitions shortly after Bitcoin fell below the $80,000 level.

Strive made its latest investment at an average purchasing price of $79,348 per Bitcoin, while DDC bought at an average purchasing price of $79,496 per BTC and SWC at an average purchasing price of $77,687 per BTC.

Hyperscale bought the BTC in the open market and did not disclose an average purchasing price, though it acquired on Sunday, when Bitcoin’s price closed the day at $76,981.

The average purchasing price of Bitcoin treasury firms is an important metric that reveals the unrealized gains or losses on the current BTC position and is often used to gauge a company’s long-term conviction in the underlying asset.

Related: New York lawsuit tests lost property claim over dormant Bitcoin

The development comes a week after Strategy announced a massive acquisition of 24,869 BTC acquired for $2.01 billion between May 11 and 17, at an average purchasing price of $80,985 per BTC. The $2 billion investment marked Strategy’s third-largest investment of 2026.

Top Bitcoin treasury companies by holdings. Source: Bitcointreasuries.net

There are currently about 198 public Bitcoin treasury companies holding 1.24 million Bitcoin, representing about 5.9% of the total supply, data from Bitcointreasuries shows.

Magazine: Bitcoin ETFs bleed $1B, Aave’s $71M ETH unfreeze bid delayed: Hodler’s Digest, May 10 – 16

DOGEBALL gains attention as a crypto presale combining gaming utility, payments, and audited blockchain infrastructure.

DOGEBALL (DOGEBALL) is quickly standing out for investors searching for the best crypto presale to buy now. With real payment utility, a powerful gaming ecosystem, and audited tech, DOGEBALL is designed to deliver long-term value rather than short-lived hype.

Why DOGEBALL could be the best crypto presale to buy now

DOGEBALL crypto presale 2026 is built on DOGECHAIN, a custom Ethereum Layer 2 that powers fast, low-fee transactions. This infrastructure supports both global payments and gaming, making DOGEBALL a serious contender for anyone hunting the Best Crypto Presale To Buy Now.

Unlike many crypto presale projects that lean on vague promises, DOGEBALL has a clear, utility-driven roadmap: DOGEPAY for real-world payments, a high-stakes play-to-earn game, and a scalable Layer 2 network. That combination gives DOGEBALL multiple real demand drivers from day one.

DOGEBALL details: Why this crypto presale is different

DOGEBALL is a full crypto ecosystem that lets users send crypto while receivers get fiat directly in their bank accounts worldwide. There are zero FX fees, no banks or intermediaries, and near-instant transfers, all powered by DOGECHAIN and the DOGEBALL token.

The same infrastructure also fuels a cross-platform play-to-earn game with a prize pool up to $1M and a top reward up to $500K. Players can cash out winnings straight to fiat, and developers can accept crypto and convert to fiat instantly, making DOGEBALL useful across gaming and payments.

For investors, this is more than a speculative crypto presale. DOGEBALL is already in presale stage 5 at $0.00065, with $295K+ raised and 1000+ participants. A 4bn token burn (20% of the 20bn presale allocation) has already permanently reduced supply, tightening tokenomics.

The presale now runs as a timed model with 20 stages (starting from Stage 2), each lasting up to 7 days. If a stage sells out early, the next one starts immediately with a higher price. All unsold tokens from each stage are burned, further supporting long-term scarcity.

Every weekend, a stage ends, and each Monday at 21:00 UTC a new, higher-priced stage begins. That means today’s price is among the lowest available before launch, and with marketing ramping up from 11 May 2026, more buyers are likely to enter later at higher prices.

DOGEBALL presale growth potential: Numbers that make sense

DOGEBALL is currently priced at $0.00065 in stage 5, with an expected launch price of $0.015. The potential upside is easy to see:

• Launch price: 0.015
• Today’s presale price: 0.00065
• 0.015 / 0.00065 ≈ 23.07
• That is roughly a 23x increase from the current presale price

In ROI terms, this is around a 2207% gain. For example:

• Investing $100 at $0.00065 gets about 153,846 DOGEBALL tokens
• At $0.015, those tokens would be worth around $2307

These figures only cover the move from today’s presale level to the scheduled launch price, before considering any additional upside once DOGEBALL lists on exchanges and DOGEPAY plus the gaming ecosystem go live. Combined with ongoing token burns and growing marketing, early participants are positioned at some of the most attractive entry levels.

How to join DOGEBALL: Easy steps to enter this crypto presale

Getting into the DOGEBALL crypto presale 2026 is straightforward, even if someone is new to presales. Here is how to secure an allocation at the current stage price before the next increase.

1. Visit the official DOGEBALL website and open the updated timed presale widget.
2. Connect a supported web3 wallet, such as MetaMask or a trusted mobile wallet.
3. Choose a payment method (such as ETH or USDT, depending on what the widget supports) and enter the amount to invest.
4. Confirm the transaction in the wallet and wait for on-chain confirmation.
5. The DOGEBALL allocation will be stored to be claimed once the presale ends and the token launches on exchanges with a specialist web3 partner.

Because each new stage brings a higher price and any unsold tokens are burned, buying earlier allows investors to secure more tokens for the same capital. With a planned launch price of $0.015, today’s $0.00065 stage offers one of the strongest value entries in this crypto presale.

Conclusion: Why DOGEBALL crypto presale 2026 looks like the best crypto presale to buy now

With audited smart contracts, a 4bn token burn already executed, automatic burns on unsold stage tokens, $295K+ raised, 1000+ participants, and a clear launch target of $0.015, DOGEBALL presale gives investors transparent numbers and real utility. For many, that makes DOGEBALL crypto presale 2026 a leading candidate for the best crypto presale to buy now.

For more information, visit the official website, Telegram, and X.

FAQs for best crypto presale to buy now

What is the best crypto to buy in Presale?

The best presales usually combine clear utility, audited contracts, and disciplined tokenomics. DOGEBALL fits this profile with payments, gaming, a Layer 2 chain, and a structured, burn-backed presale, which puts it high on many investors’ shortlists.

Which crypto has 1000x potential?

No project can guarantee 1000x, but tokens with multiple real use cases have a better chance. DOGEBALL powers payments, gaming, staking, and Layer 2 gas, creating several streams of organic demand instead of relying only on speculation.

How to find the best presale crypto?

Focus on real products, audits, transparent teams, and supply mechanics. DOGEBALL publicly outlines DOGEPAY, its gaming ecosystem, DOGECHAIN, and stage-based burns, giving investors concrete fundamentals rather than empty marketing slogans.

What is the fastest crypto presale?

Fast-moving presales usually have strong demand and smart mechanics. DOGEBALL’s timed stages, automatic price rises, supply burns, and increasing marketing can accelerate stage sellouts as more investors discover its payments-plus-gaming value proposition.

Is it good to buy presale tokens?

Presales carry higher risk but can offer strong upside when backed by real utility and clear tokenomics. DOGEBALL’s audited contracts, defined launch price, ecosystem roadmap, and scarcity-focused presale structure give buyers a more informed, data-backed opportunity.

Singapore’s criminal justice system has taken aim at governance practices in one of the industry’s high-profile cases linked to the Terra ecosystem collapse. Former Hodlnaut chief executive Zhu Juntao was charged in Singapore with six counts of fraud by false representation, tied to statements made after the TerraUSD (UST) crash in 2022. The Commercial Affairs Department conducted the investigation, and Zhu, aged 36, faces three charges under Section 424A(1)(a) read with Section 424A(3) of the Penal Code 1871, as well as three additional charges under the same provision read with Section 109, according to the Singapore Police Force.

According to the Singapore Police Force, the charges allege that Zhu directed Hodlnaut staff to issue statements in the company’s official Telegram group and in emails to users between May and July 2022 that falsely asserted Hodlnaut did not have direct exposure to UST and had not suffered losses from the crash. The police also stated that Zhu published three similar posts on his personal Twitter account (now known as X) in June 2022. If convicted, he faces up to 20 years in prison, a fine, or both, on each charge.

The case adds a new layer to the scrutiny over the Terra collapse—a turning point in the 2022 digital asset market rout that erased approximately $50 billion in market value and contributed to broader turmoil within the crypto lending sector.

Related: Singapore revokes crypto payment license of Bsquared over regulatory breaches

The Terra event, which unfolded in May 2022 as the algorithmic stablecoin UST lost its peg, reverberated across the sector. Hodlnaut—an Singapore-based platform that allowed users to deposit tokens for yield—found itself at the center of the fallout. The company halted withdrawals in August 2022, and its website currently notes that its affairs, business, and property are being managed by court-appointed liquidators. The firm previously served more than 30,000 users worldwide before its collapse, marking one of the more consequential episodes of 2022’s crypto downturn.

The Terra crisis also led to distress at other lenders. Celsius Network reported assets exceeding $10 billion prior to its Chapter 11 filing, while Voyager Digital disclosed assets and liabilities ranging between $1 billion and $10 billion. The sequence of failures underscored how rapid liquidity strains and misaligned risk disclosures can destabilize platforms that promise yield on digital assets.

Cointelegraph sought comment from Hodlnaut’s court-appointed liquidators, but there was no immediate response. The proceedings in Singapore continue to shape regulatory expectations for crypto platforms, particularly around the accuracy of public statements and investor communications.

Opening context for enforcement and policy considerations

The charges against Zhu re-emphasize the primacy of truthful communications in crypto service offerings, especially when users’ funds and platform solvency are at stake. In jurisdictions around the world, including Singapore, authorities are increasingly focusing on corporate governance, disclosures, and the accuracy of information shared with customers and counterparties. The case thus sits at the intersection of criminal law, corporate conduct, and regulatory oversight in a sector characterized by rapid innovation and evolving risk profiles.

From a regulatory perspective, the incident reinforces several critical themes for institutions operating or interacting with digital asset markets:

• Governance and accountability: Public assurances by executives and staff about exposure, liquidity, and solvency must align with a firm’s actual risk profile and financial status. Misrepresentations can invite criminal liability and civil consequences, particularly in jurisdictions with robust consumer protection and market integrity regimes.
• Disclosure standards and investor protection: The Terra episode highlighted gaps in disclosure practices that can leave retail and professional investors exposed to mispricing and liquidity risk. Regulators are likely to scrutinize communications policies, disclosure controls, and the monitoring of information disseminated through official channels and social platforms.
• Licensing, supervision, and cross-border implications: The Singapore case dovetails with broader calls for enhanced oversight of crypto lenders, exchanges, and payment services. As jurisdictions pursue licensing regimes and ongoing supervision, firms face increased expectations around risk management, governance structures, AML/KYC compliance, and capital adequacy.
• Regulatory alignment and enforcement posture: The Terra fallout underscored the need for coherent policy responses in fast-moving markets. While MiCA governs the European Union’s digital asset framework, comparable standards are evolving in Asia and elsewhere, influencing licensing criteria, enforcement priorities, and the delineation of permissible activities for custodians and lenders.

For institutional readers and compliance professionals, the case offers a lens into how regulatory authorities may pursue accountability for misrepresentations, and how such actions can ripple through governance practices, customer communications, and risk governance frameworks across crypto businesses. It also highlights the importance of clear internal controls surrounding public messaging and the separation between executive communications and the firm’s official risk disclosures.

Looking ahead, authorities may continue to pursue parallel inquiries into other entities involved in Terra’s aftermath, while courts assess whether the statements in question meet the threshold for fraud by false representation. The outcome could influence future guidance on how crypto platforms should manage public communications during periods of stress, as well as how regulators calibrate licensing and enforcement tools to deter deceptive practices without stifling innovation.

What to watch next: the legal process will determine whether the charges lead to a conviction and, if so, the standards by which communications must be vetted in exchange for customer assurances and platform disclosures. In the broader policy landscape, the episode could inform ongoing discussions about cross-border cooperation, standardization of reporting, and the resilience requirements placed on platforms that offer yield-generation services to a growing, global user base.

Key Takeaways

• The U.S. Department of Energy has chosen Oklo for advanced discussions regarding its Surplus Plutonium Utilization Program.
• Oklo will collaborate with newcleo, a European nuclear technology company, to transform Cold War surplus plutonium into usable reactor fuel.
• Shares of OKLO are currently trading at $65.88, representing an almost 18% increase over the previous seven days.
• The collaboration with newcleo features a possible capital injection reaching $2 billion, pending final agreements and regulatory clearance.
• Congressional Democrats have expressed concern over security risks, highlighting that the stockpile theoretically contains material for 2,000 nuclear weapons.

The U.S. Department of Energy has tapped Oklo Inc. to enter advanced negotiations as part of its Surplus Plutonium Utilization Program. This federal initiative aims to repurpose designated surplus plutonium by converting it into fuel suitable for next-generation nuclear reactors.

Oklo Inc., OKLO

Shares were changing hands at $65.88 when the news broke, giving the company an $11.5 billion market capitalization. The stock has climbed nearly 18% in the last week alone.

Oklo stands among five advanced nuclear technology companies selected for participation in the program. The firm intends to spearhead the fuel conversion initiative in partnership with newcleo, a European developer of advanced nuclear reactor systems.

Newcleo’s involvement would contribute specialized fuel fabrication knowledge and potential financing for the project, contingent upon finalized contracts and government approvals. The partnership between the two entities was initially unveiled in October 2025, featuring a prospective $2 billion capital commitment from a newcleo-associated investment vehicle.

By February 2026, newcleo had initiated preliminary discussions with the U.S. Nuclear Regulatory Commission concerning an advanced fuel fabrication plant and a lead-cooled fast reactor architecture.

The plutonium targeted by this program originates from the Cold War era. Sourced from decommissioned nuclear weapons, approximately 20 metric tons are currently held by the United States at high-security storage sites located in South Carolina, Texas, and New Mexico.

President Trump issued an executive order roughly one year ago terminating a program intended to dilute and permanently dispose of this surplus material. The directive instead instructed federal agencies to make the plutonium accessible as fuel for cutting-edge nuclear energy systems.

Understanding the Plutonium Initiative

The substance possesses a half-life of 24,000 years and necessitates specialized protective equipment during handling. Storage occurs at facilities maintained under weapons-grade security protocols.

Oklo CEO Jacob DeWitte stated the program establishes a mechanism to accelerate reactor deployment. “Material previously earmarked for disposal can now be transformed into fuel for electricity generation,” he explained.

Newcleo CEO Stefano Buono indicated that utilizing the plutonium as reactor fuel would diminish America’s nuclear waste obligations.

The program mandates strict adherence to all U.S. security protocols, safeguard measures, and material tracking requirements.

Congressional Opposition and Regulatory Scrutiny

Democratic members of Congress have called on the Trump administration to abandon the initiative. Their concerns center on proliferation dangers, emphasizing that the accumulated stockpile theoretically holds sufficient plutonium to manufacture around 2,000 nuclear weapons.

The Department of Energy has not yet provided a response to inquiries regarding security protocols for the material.

It bears mentioning that current U.S. Energy Secretary Chris Wright was previously a board member at Oklo prior to his appointment to the Trump administration.

Regarding Wall Street coverage, BofA Securities launched coverage on Oklo with a buy recommendation and an $80 price objective, highlighting the company’s integrated build-own-operate business approach. Wolfe Research assigned a Peerperform rating with an estimated fair value between $51 and $71 per share.

Oklo disclosed Q1 2026 earnings per share of -$0.19, matching analyst consensus forecasts. Four financial analysts have recently increased their earnings projections for the next reporting period.

Bitmine Immersion (BMNR), the Ethereum treasury firm helmed by chairman Tom Lee, ramped up purchases again, making its biggest haul since December.

The company said Monday it bought 111,942 ether (ETH) last week, worth around $237 million at current prices. That lifted the firm’s holdings to almost 5.4 million ETH, about 4.47% of Ethereum’s circulating supply.

The purchase marks a renewed acceleration in Bitmine’s buying pace after Lee said earlier in May at Consensus 2026 in Miami that the company planned to slow weekly accumulation. The shift happened as the firm aims to take advantage of ETH sliding from $2,400 in early May and April to near $2,100.

“We continue to steadily acquire ETH,” Lee said in the statement. “We view the recent pullback of ETH to below $2,200 as an attractive opportunity.”

Lee added that the firm is expected to reach its goal to corner 5% of ether’s supply later in 2026.

Bitmine’s total crypto and cash holdings stand at $12.3 billion, according to the report. The company also holds 203 bitcoin, $444 million in cash and equity stakes including investments in Beast Industries and Eightco Holdings.

The firm said it has staked more than 4.7 million ETH — about 87% of its holdings — generating approximately $276 million in annualized staking revenue.

Zcash has extended its explosive recovery after confirming a bullish Adam and Eve pattern on the weekly chart, with traders now watching a potential breakout rally toward the $900 region.

Zcash (ZEC) price rose more than 110% over the past month and briefly touched $682 on May 22 before retreating toward the $600 support area at press time. From its year-to-date low, the privacy-focused cryptocurrency has rallied more than 245%, outperforming most major altcoins during the same period.

The latest leg higher followed a combination of regulatory relief, institutional accumulation, and aggressive short liquidations. Earlier this month, the U.S. Securities and Exchange Commission officially closed its investigation into the Zcash Foundation without recommending enforcement action, removing a long-standing compliance risk that had weighed on investor appetite for privacy-focused assets.

Grayscale accelerated the institutional narrative on May 12 after filing with the SEC to convert its Zcash Trust into a spot Zcash ETF on NYSE Arca. The proposal placed ZEC among a limited group of altcoins pursuing regulated spot ETF exposure in the United States as fund issuers continue expanding beyond Bitcoin and Ethereum products.

Arthur Hayes recently disclosed that Zcash had become his second-largest crypto holding after Bitcoin, while Raoul Pal and Multicoin Capital publicly backed the privacy-coin sector during the rally. Their comments fueled speculation that institutional capital could increasingly rotate into privacy-focused infrastructure projects after years of regulatory uncertainty around anonymity-enhanced cryptocurrencies.

On-chain supply conditions tightened sharply during the rally. Community data showed more than 30% of Zcash’s circulating supply, roughly 5.18 million coins, moved into privacy-focused shielded pools. The reduction in tradable supply amplified upside volatility once spot demand accelerated above key resistance levels.

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Foundry USA later added official mining support for ZEC, bringing institutional-scale mining infrastructure and additional hash-rate stability to the network. During Consensus Miami, the Zcash Open Development Lab also unveiled early-stage “quantum-recoverable” wallets as part of a broader push toward post-quantum security protections.

Adam and Eve breakout structure projects move toward $929

Weekly charts now show Zcash completing a textbook Adam and Eve bottom formation after reclaiming the neckline near the $560 region. The structure formed after a sharp capitulation low near $190 earlier this year transitioned into a rounded accumulation phase throughout March and April.

The measured move from the pattern projects a breakout target near $929, representing roughly another 50% upside from current levels. Traders calculate the target by measuring the distance between the neckline and the pattern low before extending the same range upward from the breakout point.

The chart also shows ZEC reclaiming the Supertrend indicator, which flipped bullish near the $314 region earlier this quarter. Price continues holding well above that level despite the recent rejection near local highs.

Momentum indicators remain constructive on higher timeframes. The weekly MACD histogram has expanded deeper into positive territory while the MACD line continues trading above the signal line, a structure traders often associate with continuation rallies rather than exhausted breakouts.

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Crypto trader Ardi described Zcash as “one of the best macro recovery charts in the market right now” after the token completed a V-shaped recovery back into the upper $680 resistance region. In a post published on X, he added: “Once that level breaks and confirms as support, I’m still targeting a move into the $740 region next.”

$ZEC

Still looking for continuation here.

Structurally, this is still one of the best macro recovery charts in the market right now.

Price has now completed a full V-shaped recovery back into the top of the local $680 range after reclaiming the entire corrective structure from… https://t.co/WKRy40j1hd pic.twitter.com/oGI2K8Wui1

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— Ardi (@ArdiNSC) May 24, 2026

Liquidation clusters and whale positioning tighten around $700

CoinGlass liquidation heatmap data shows dense leverage concentration between $680 and $700, where large short liquidation clusters accumulated during the past week.

A breakout through that resistance range could trigger another cascade similar to the rally earlier this month that erased more than $55 million in bearish positions during a single trading session.

Major liquidity pools have also formed around the $570 and $560 support zones beneath current prices. Those levels align closely with the Adam and Eve neckline retest area, making them key regions traders will likely monitor for dip-buying activity if ZEC extends its pullback.

Lookonchain reported that a trader reopened a 40x leveraged Bitcoin short position worth more than $40 million while simultaneously holding a 53,500 ZEC long valued near $33 million. The platform said the trader’s Zcash position briefly fell nearly $1.9 million underwater after the latest correction.

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Leverage exposure across ZEC derivatives markets has expanded rapidly alongside the price rally. Several perpetual futures platforms recorded elevated funding rates during the recent advance as traders crowded into aggressive long positions, expecting continuation toward new cycle highs.

Bitcoin stabilized near the $77,000 region after heavy ETF-driven selling pressure earlier this month, allowing speculative capital to rotate back into higher-beta altcoins, including Zcash, Solana, and other privacy-focused assets. The improvement in broader crypto sentiment helped sustain momentum across altcoins that had already broken above key technical resistance levels.

Upcoming U.S. inflation and labor-market reports remain another major focus for traders after Treasury yield volatility pressured crypto markets earlier this quarter. Any economic data supporting expectations for future Federal Reserve rate cuts could improve liquidity conditions for speculative assets and reinforce demand across altcoins.

Oil prices also retreated this week after reports that the United States and Iran extended ceasefire negotiations tied to shipping activity near the Strait of Hormuz. The pullback eased some inflation concerns across global markets and helped improve sentiment toward risk assets, including cryptocurrencies and high-beta altcoins like Zcash.

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Weekly candles have started printing longer upper wicks near the $680 resistance region after ZEC’s 245% rebound from yearly lows. The rejection suggests some traders have begun taking profits into strength while leveraged positioning across futures markets remains elevated.

Per analyst Skinny, Zcash is highly overbought at current levels, and while the token could still climb toward last year’s highs, it may quickly reverse bearish once it reaches the $740 resistance zone.

Failure to hold the $560 breakout zone could weaken the current bullish structure and expose downside retracements toward the psychological $500 level. A sustained breakdown below that region would invalidate the Adam and Eve continuation setup and likely trigger another wave of long liquidations across leveraged derivatives markets.

For now, Zcash continues trading above its key breakout threshold while shrinking liquid supply, institutional catalysts, and concentrated short exposure keep traders focused on a potential move toward the $900 region.

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

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Spain’s Ministry of Consumer Affairs opened disciplinary proceedings against prediction market platforms Polymarket and Kalshi and ordered internet service providers to block access to the platforms.

In notices published in the country’s official state gazette, Spain’s gambling regulator, the Directorate General for Gambling Regulation (DGOJ), said the companies were offering betting products tied to uncertain future events without the licenses required under Spanish law, according to local news outlets.

Authorities said the precautionary blocking measures would remain in place while the cases proceed, a process expected to take three to four months.

The notices came after regulators failed to notify the companies through known foreign addresses.

Kalshi and Polymarket currently dominate prediction markets’ trading activity. Over the past 30 days, Kalshi recorded roughly $5.9 billion in trading volume while Polymarket processed about $3.8 billion, according to DeFiLlama data.

Combined, the two platforms represent nearly 88% of the roughly $11 billion in trading volume among the sector’s top markets during the period.

The move sees Spain join a growing number of jurisdictions targeting prediction markets as regulators debate whether the products should fall under gambling or financial market rules.

Indonesia blocked Polymarket earlier this week under online gambling restrictions, as did India. Other countries including Taiwan, Thailand China, and Japan have restricted the platform, while Ukraine blocked it with no legal way for it to come back.

Polymarket’s list of blocked countries also includes Belgium, Australia, France, the U.K., and Germany. The platform is relaunching in the U.S.

Kalshi followed a different regulatory route in the U.S., where it operates under oversight from the Commodity Futures Trading Commission (CFTC). Still, it’s been under fire.

Spanish authorities said unlicensed operators may lack safeguards such as identity checks, protections for minors and systems for self-excluded gamblers.