A federal judge blocked Minnesota’s prediction market ban on Monday, handing Kalshi, Polymarket US, and the Commodity Futures Trading Commission (CFTC) a preliminary injunction days before the law’s August 1 effective date.

US District Judge Katherine Menendez found the Commodity Exchange Act (CEA) likely preempts the statute. Her order bars enforcement against CFTC-registered designated contract markets (DCMs) until a final merits decision.

Why the Court Found Federal Law Likely Preempts Minnesota’s Statute

Menendez issued the order in 3 related cases against Minnesota, Attorney General Keith Ellison, Governor Tim Walz, and other state officials. Kalshi, Polymarket US, and the federal government each won their injunction motions.

Minnesota’s law, Minn. Stat. § 609.7615, makes operating or creating a prediction market a felony. It covers sports, elections, legal actions, pop culture, and statements by specific people. Advertising and providing data services also carry criminal penalties.

The CFTC filed its lawsuit in May, after Walz signed the legislation. Chairman Michael Selig argued the ban would criminalize weather contracts that Minnesota farmers use for hedging.

Menendez ruled that the CEA gives the CFTC exclusive jurisdiction over swaps traded on DCMs. She found many contracts on both platforms, including election and geopolitical markets, that likely qualify as swaps. Consequently, Minnesota likely cannot regulate them.

“Kalshi and Polymarket US are designated contract markets, so the CFTC has exclusive jurisdiction to regulate transactions involving those swaps,” the order read.

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Judge Signals Final Relief Could Be Narrower

However, Menendez stressed that not every event contract fits the swap definition. She pointed to Kalshi markets on Love Island USA winners and World Cup announcer mentions as likely failing the test.

Both sides briefed the case as all-or-nothing, she noted. That left the court little guidance for crafting a narrower remedy, so she froze the entire statute for now.

Irreparable harm weighed heavily in the decision. Kalshi reported over 90,000 verified Minnesota users as of May 26, with millions of dollars in open positions. Sovereign immunity would bar any recovery of damages if enforcement proceeded.

The court did not address the First Amendment claims raised by both exchanges. Those questions, along with the implied preemption issue, now await a full merits ruling.

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The post Court Sides With Kalshi and Polymarket Over Minnesota’s August 1 Ban appeared first on BeInCrypto.

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In Washington, momentum can vanish as quickly as it arrives. The Clarity Act now sits on the shelf, while the Bitcoin price slips under renewed pressure after a sharp selloff across Asian markets.

Senate Majority Leader John Thune has shifted attention toward federal nominations and a Russia sanctions bill, delaying debate on crypto legislation. The Digital Asset Market Clarity Act, designed to define SEC and CFTC oversight, now faces an increasingly narrow window before Congress begins its August recess.

That delay arrives at a supposedly bullish moment. Risk appetite was at its top, and now, the delay leaves crypto exposed to fresh volatility.

Discover: The Best Token Presales

Clarity Act Delay Extends Regulatory Limbo

The Clarity Act is a reminder that politics don’t move in straight lines. Ethics concerns surrounding public officials’ digital asset holdings continue to complicate negotiations. Meanwhile, a proposed 2029 sunset clause remains another point of contention before lawmakers can reach consensus.

Outside Capitol Hill, opposition continues to build. New York Attorney General Letitia James argues the Clarity Act could weaken states’ ability to prosecute crypto fraud, potentially limiting local enforcement powers. Her criticism adds another obstacle as supporters race against the congressional calendar.

Not just in the States, regulatory pressure is also unfolding overseas. Thailand’s SEC has filed criminal complaints against Bitkub and two former executives over allegations they concealed a 2021 cyberattack worth about $50 million. Although customers were reimbursed, authorities allege the exchange submitted inaccurate reports, reviving concerns over transparency throughout the industry.

Elsewhere, prediction markets continue advancing despite federal uncertainty. A U.S. judge temporarily blocked Minnesota’s restrictions on platforms including Kalshi and Polymarket, citing potential conflicts with federal commodities law. As the CFTC seeks faster legal clarity, the Clarity Act remains trapped in Washington’s legislative queue.

Discover: The Best Crypto to Diversify Your Portfolio

Bitcoin Price Slides as Asian Markets Trigger Risk Aversion

Ethereum (ETH)

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The Bitcoin price weakened after Asian equity markets suffered a huge selloff, extending losses from the previous U.S. session. Bitcoin briefly fell below recent support before stabilizing. It’s not just crypto, but a wider retreat from risk assets as investors reduced exposure across multiple markets.

The butchering started with South Korea’s Kospi, which recorded one of its sharpest declines in months, led by heavy selling in major technology stocks. This could be the culprit, dragging the Bitcoin price lower alongside market sentiment.

Recent gains have also begun to lose momentum. Bitcoin price previously rebounded from July lows but struggled to reclaim higher resistance levels as buying pressure softened. Spot Bitcoin ETFs continued attracting inflows over recent weeks, although significant late-week withdrawals showed institutional demand remains sensitive to macroeconomic shifts.

Large holders have largely avoided aggressive accumulation during the latest decline. Strategy maintained its existing Bitcoin position without announcing any additional purchases, instead preserving billions in available cash. At the same time, miners may receive modest relief as network difficulty appears set for its first annual decline in nearly two decades.

Attention now shifts toward the Federal Reserve and Washington alike. Bitcoin price could remain trapped in a cautious range until investors receive clearer signals from policymakers and lawmakers. For now, delayed legislation and fragile market sentiment continue moving together, leaving the Clarity Act and crypto markets waiting for the next decisive chapter.

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The post Crypto News, July 28: CLARITY Act Shelved, Bitcoin Drops in Asian Market Rout appeared first on Cryptonews.

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The rather impressive Monday rally didn’t last long, as the entire cryptocurrency market has turned red today, with the market cap losing over $80 billion from top to bottom.

Ripple’s native token is no exception. The asset has dropped from yesterday’s peak at $1.11 to $1.05. Here are some of the possible reasons behind this decline and what could be next.

XRP Dives and ETF Inflows Can’t Save It

Perhaps the most obvious reason behind XRP’s crash is that it’s not an isolated case; the entire market has turned red, led by bitcoin’s dive from $65,600 to $63,000. As such, the cross-border token cannot be simply ruled out, as it tends to follow the overall market trend.

It appears investors are reducing their exposure to risk-on assets like crypto ahead of the next Federal Reserve FOMC meeting. The US central bank will announce its interest rate decision tomorrow evening. According to some reports, there’s an actual chance of a rate hike despite easing inflation in June.

The rejection at $1.11 and the subsequent decline to $1.05 meant that XRP has actually lost a crucial support zone at $1.08-$1.10, which managed to halt its free falls for most of July. Aside from this technical side of things, the asset’s drop triggered a large wave of liquidations, which also created the snowball effect of a more profound decline.

The silver lining is that the ETF net flows remained in the green. However, it was a very modest number of under $600,000, which is evidently not sufficient to help XRP avoid such price losses.

So What’s Next?

The daily leg down hasn’t changed popular analysts’ opinion on XRP’s claimed bright future. Xaif Crypto acknowledged the rising leverage and XRP’s rather tight trading range. The market observer commented that “two-sided liquidations are getting hit on both longs and shorts,” which, aligned with neutral funding and drying up spot liquidity on Binance, will likely lead to a much bigger move soon.

Meanwhile, CasiTrades outlined once again that she expects the next XRP wave to be “violent.” The analyst noted that XRP has returned to macro support, which, if broken to the downside, will likely lead to a more painful decline to $0.87, her targeted bottom.

ripple:native’s Next Wave Could Be Violent!

Do you see how nicely we’re following the purple scenario?

During Friday’s livestream, I highlighted the importance of the $1.09 level we were testing at the time. I explained that it would likely provide a small reaction… pic.twitter.com/9pjn0EbOZS

— CasiTrades (@CasiTrades) July 27, 2026

The post Why Is Ripple’s XRP Down by 4.5% Today (July 28)? appeared first on CryptoPotato.

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All eyes are on July 30, when Amazon reports Q2 2026 earnings, with Wall Street increasingly convinced the bar has been set too low. Consensus sees EPS near $1.82-$2.26 on roughly $197 billion in revenue, but the real story is AWS: after posting its fastest growth in 15 quarters at 28% in Q1, several major banks—including Bank of America—now expect acceleration toward 32-33%, fueled by surging AI demand and Bedrock workloads tied to Anthropic and OpenAI.

That optimism comes with a catch. Amazon’s $200 billion AI capex plan has already squeezed free cash flow to just $1.2 billion, and investors will be watching closely for any further guidance hike, following similar moves from Alphabet. Options markets are pricing a 6.3% swing on earnings day, above the stock’s typical 5.4% post-earnings move, signaling traders expect this report to matter more than usual.

With shares up roughly 18% year-to-date and trading at a below-average forward multiple, the setup favors strength—but only if AWS growth and margin guidance clear an already demanding bar.

Technical Analysis of Amazon

As the chart shows, Amazon stock has pulled back from April’s highs near $280 within a broader ascending channel, with price now testing the confluence of the rising trendline and the 0.618 Fibonacci retracement near $225-$230—precisely where Thursday’s earnings could prove decisive.

Bullish Scenario

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Should Amazon deliver on the AWS acceleration Wall Street is now pricing in, a strong earnings beat could fuel a bounce off this trendline-Fibonacci confluence. A confirmed reclaim of the 0.5 retracement near $240, followed by a push back above the 0.382 level around $248, would put the broader uptrend firmly back in play, opening the door toward a retest of the channel’s upper boundary and the April highs.

Bearish Scenario

Conversely, a disappointing report—particularly around capex guidance or AWS margins—could send price breaking below both the ascending trendline and the 0.618 retracement. That would expose the deeper 0.786 level near $215, with a more severe reaction potentially dragging price back toward the $200 psychological support that has held since April.

With earnings landing squarely on this technical crossroads, AMZN stock’s next move could be one of the most consequential of the summer—will AWS’s AI story be enough to reignite the rally, or does the chart already know something the numbers don’t?

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After rallying on Monday to a multi-day peak following the weekend de-escalation on the war front, bitcoin was violently rejected and driven south by almost three grand in hours.

Most altcoins have joined the painful ride, including ETH, which has dropped below $1,900, and HYPE, which has lost the most value out of the larger caps.

BTC Rejected

The primary cryptocurrency had a good run last week, in which it rocketed from $63,750 to a monthly peak of $67,000 in the span of 36 hours. However, it couldn’t breach that line and dipped to $64,750 on Wednesday and all the way down to its starting point at $63,750 on Friday.

The bulls intervened after this decline and helped it recover some ground to $64,000 during the weekend, when it finally calmed. The impact of the de-escalation news on the Middle Eastern attacks was expected to be felt on Monday, and it didn’t disappoint. Bitcoin jumped to $65,600 on a couple of occasions for the first time since Friday.

However, it was rejected once again, and the subsequent ride south was quite brutal. As reported earlier today, BTC slumped to $63,000 for the first time in 10 days, leaving roughly $700 million in liquidations.

Although it has rebounded slightly to $63,400 as of press time, it remains 3% down on the day. Its market cap has dropped to $1.720 trillion, while its dominance over the alts remains below 57% on CG.

Alts Bleed, Too

Ethereum rode the green wave hard yesterday, jumping to a two-month peak at $1,980. It was stopped there, and a 4.2% daily decline has driven it south by $100. XRP and SOL have decreased by similar percentages, while HYPE has plummeted by 8% to $55. ZEC, LINK, XLM, and ADA are also deep in the red.

The biggest loser today is Audiera’s BEAT. A 25% drop has pushed it south to $2.74. NEAR (-10%), SHIB (-9%), and PI (-9%) follow suit.

The cumulative market cap of all crypto assets has dumped from $2.330 trillion to $2.250 trillion as of now, losing $80 billion in just a day.

The post Crypto Markets Lose $80 Billion as Bitcoin (BTC) Dumps to $63K: Market Watch appeared first on CryptoPotato.

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WEEX kicks off the TradFi Trading Fest from July 27 to August 10, 2026, offering new user rewards, first-trade protection, zero-slippage trading, lucky draws, and a 50,000 USDT exclusive prize pool for TradFi futures traders.

TL;DR

• What’s launching: WEEX’s TradFi Trading Fest runs from July 27, 2026, 16:00 to August 10, 2026, 23:59 (UTC+8), rewarding users for trading TradFi (traditional finance) futures — gold, silver, oil, tokenized stocks, and indices — with USDT.
• New User Reward: First deposit > 100 USDT + trade ≥ 100 USDT = 200 USDT position airdrop (5 USDT × 40× leverage), capped at the first 5,000 users.
• First-Trade Protection: Up to 20 USDT in trial funds (50% offset) if a user’s first TradFi futures trade results in a loss.
• Zero Slippage Trading: Daily perk using the “Guaranteed Price” feature across 31 eligible TradFi pairs.
• Lucky Draw: Tiered entries based on cumulative trading volume, from 20,000 USDT up to 1,000,000 USDT.
• Exclusive Prize Pool: Trade ≥ 200,000 USDT in TradFi futures to share a 50,000 USDT prize pool.

WEEX, a leading global crypto exchange, has officially launched the TradFi Trading Fest, a two-week campaign running from July 27, 2026, 16:00 to August 10, 2026, 23:59 (UTC+8). The event is designed to give both new and existing users a smoother, more rewarding entry point into trading TradFi futures — including gold, silver, oil, major equities, and index-linked instruments — directly on the WEEX platform. With five distinct reward mechanisms stacked together, from onboarding bonuses to guaranteed-price execution and a substantial shared prize pool, the campaign reflects WEEX’s ongoing push to bridge traditional financial markets with the flexibility and accessibility of crypto-native trading infrastructure. 

Users are invited to sign up now and start exploring the full range of benefits on offer.

Five Ways to Earn During the TradFi Trading Fest

1. New User Reward: New users who make a first deposit of more than 100 USDT and complete at least 100 USDT in TradFi futures trading volume will receive a 200 USDT position airdrop (5 USDT × 40× leverage). This reward is available on a first-come, first-served basis, capped at the first 5,000 users — giving newcomers a low-barrier way to try TradFi futures with extra trading power from day one.

2. First-Trade Protection: Trading always carries risk, especially for first-timers. To ease that concern, WEEX is offering up to 20 USDT in trial funds (50% offset) to any user whose very first TradFi futures trade results in a loss. This safety net lets new traders test strategies and get familiar with the market without the full weight of downside risk on their opening trade.

3. Zero Slippage Trading (Daily Perk): Slippage can quietly erode returns, particularly in fast-moving markets. Throughout the event, users trading eligible TradFi futures pairs can activate the “Guaranteed Price” feature to enjoy zero slippage on every trade — a daily perk that ensures execution certainty and helps traders stick to their intended entry and exit levels.

4. Lucky Draw with Guaranteed Rewards: Every trader has a shot at extra rewards through a tiered lucky draw based on cumulative TradFi futures trading volume during the event:

The more users trade, the more chances they get to win — rewarding both casual participants and high-volume traders alike.

5. Exclusive 50,000 USDT Prize Pool: For traders aiming higher, reaching a total TradFi futures trading volume of 200,000 USDT or more qualifies them to share in an exclusive 50,000 USDT prize pool, adding an extra layer of upside for active, high-conviction participants.

Eligible TradFi futures pairs for the zero-slippage perk, lucky draw, and prize pool include: XAUTUSDT, PAXGUSDT, XAGUSDT, CLUSDT, BZUSDT, SPCXUSDT, NATGASUSDT, COPPERUSDT, MSTRUSDT, SOXLUSDT, QQQUSDT, EURUSDT, INTCUSDT, NVDAUSDT, SPYUSDT, ORCLUSDT, AAPLUSDT, MSFTUSDT, DRAMUSDT, GOOGLUSDT, AMZNUSDT, EWYUSDT, TSLAUSDT, CRCLUSDT, SP500USDT, MRVLUSDT, METAUSDT, SAMSUNGUSDT, IBMUSDT, RKLBUSDT, PLTRUSDT, and BABAUSDT.

How to Participate in the WEEX TradFi Trading Fest

Getting involved is straightforward:

1. Click “Sign Up” to register for the event — participation requires prior sign-up.
2. “New users” refers to accounts registered during the event period; market makers and institutional accounts are not eligible to participate or receive rewards.
3. Rewards across the five tasks are calculated independently — users who meet the conditions for multiple tasks simultaneously can claim multiple rewards.
4. All rewards are distributed on a first-come, first-served basis in order of participation, while supplies last.

Who Should Join? Is TradFi Crypto Trading Right for You?

The TradFi Trading Fest is designed with a few types of traders in mind:

• Crypto-native traders seeking diversification. If you already trade USDT-margined futures and want exposure to macro themes — inflation, interest rates, energy markets, equity performance — without leaving your existing workflow, TradFi futures let you apply the same position sizing, stop-loss, and leverage logic to gold, oil, or stock-related products.
• New WEEX users exploring the platform. The new user reward and first-trade protection are built specifically to lower the risk of a first attempt, making this a low-pressure entry point for anyone curious about TradFi crypto trading.
• Active traders chasing volume-based upside. Traders who already run higher volumes can stack the lucky draw and exclusive prize pool on top of their regular activity for extra rewards.
• Traders who value execution certainty. Anyone concerned about slippage eating into returns during volatile sessions will benefit from the zero-slippage “Guaranteed Price” feature.

Bridging Crypto and TradFi: WEEX’s Strategic Push and the Road Ahead

Traditional access to markets like gold, oil, and equities has historically required a brokerage account, bank-linked funding, and adherence to standard exchange trading hours. WEEX TradFi removes each of those requirements: users fund their account with USDT — via on-chain transfer, OTC purchase, or internal transfer — and open positions directly from their existing WEEX futures balance. 

Unlike conventional exchanges bound by fixed trading hours, WEEX TradFi is accessible 24 hours a day, seven days a week; liquidity and spreads are typically tightest during traditional market hours and session overlaps, but users are never restricted to trading only when markets like the NYSE or the London Bullion Market are formally open.

The TradFi Trading Fest reflects this broader strategy of bridging crypto and TradFi under one platform. By combining onboarding incentives, downside protection, execution-quality guarantees, and volume-based rewards into a single campaign, WEEX aims to give traders — whether new to the platform or seasoned participants — a compelling reason to explore TradFi crypto markets alongside their existing portfolios. 

As demand grows for unified, 24/7 access to global markets, campaigns like this reflect WEEX’s continued investment in expanding its TradFi futures offering and building a more accessible, security-conscious trading experience for its global user base.

Disclaimer: WEEX reserves the right to modify the event rules, and to cancel, extend, terminate, or suspend the event, as well as adjust reward standards, at any time without prior notice. Please refer to the official WEEX website for the most up-to-date and complete event terms. This article is for informational purposes only and does not constitute investment advice. Trading futures involves significant risk; please trade responsibly and within your risk tolerance.

About WEEX

Founded in 2018, WEEX has developed into a global crypto exchange with over 6.2 million users across more than 150 countries. The platform emphasizes security, liquidity, and usability, providing over 1,200 spot trading pairs and offering up to 400x leverage in crypto futures trading. In addition to the traditional spot and derivatives markets, WEEX is expanding rapidly in the AI era delivering real time AI news, empowering users with AI trading tools, and exploring innovative trade to earn models that make intelligent trading more accessible to everyone. Its 1,000 BTC Protection Fund further strengthens asset safety and transparency, while features such as copy trading and advanced trading tools allow users to follow professional traders and experience a more efficient, intelligent trading journey.

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The post WEEX TradFi Trading Fest is Live: Trade Gold, Oil & Stocks with 0 Slippage and Win Free USDT appeared first on BeInCrypto.

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