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first_img CFTC investigates Adam Kinzinger betting on his own pardon at Kalshi

According to Politico, citing three informed sources, the U.S. Commodity Futures Trading Commission (CFTC) is investigating former Illinois Republican Congressman Adam Kinzinger, related to his trading on the prediction market platform Kalshi. The relevant trades occurred between December 2024 and January 2025, completed through a Kalshi account associated with Kinzinger. He confirmed to the media that he had placed bets on contracts regarding whether he would receive a presidential pardon, while also betting on another contract about whether Biden would issue preemptive pardons before leaving office.In the final moments before Biden left office in January 2025, he issued preemptive pardons to Kinzinger and other members of the House Select Committee investigating the Capitol riot. Screenshots provided by Kinzinger show that he made a profit of $823 from approximately 25 trades, most of which were losses. He denied any wrongdoing, stating that he had been out of office for two years at the time of the bets, was neither a congressman nor a candidate, and had "no insider information." He also stated that he had read Kalshi's rules in advance and understood that they prohibit users from trading contracts directly related to their own interests. Kalshi prohibits users from betting on contracts in which they are direct participants, and the CFTC also prohibits the use of significant non-public information in its regulated markets.Kalshi had previously handled similar cases, suspending three congressional candidates in April for betting on their own campaigns, and freezing former Congressman George Santos's account, which was referred to the CFTC and the Department of Justice, leading to a lifetime ban at the end of August.

first_img Ethereum Glamsterdam upgrade passed the rehearsal, scheduled to launch Sepolia on October 6

According to CoinDesk, the Ethereum Glamsterdam upgrade has continued to confirm blocks after adopting new block construction rules this week, passing key tests and paving the way for its planned launch on the Sepolia public testnet on October 6. The Nethermind client subsequently completed performance tests involving one of the biggest changes in Glamsterdam, with all 2,302 tests passing, processing 57.07 billion gas in 3 minutes and 15 seconds, averaging about 2.9 billion gas per second.The benchmark measures the speed of the Nethermind execution software rather than the entire network, testing block-level access lists. This mechanism informs Ethereum nodes in advance about which accounts and storage data will be used in the block, allowing nodes to fetch data and check unrelated transactions simultaneously, whereas the current Ethereum mostly processes related work sequentially, limiting the amount of activity each block can accommodate. About an hour after the testnet launch, Glamsterdam raised the block gas limit from 60 million to 200 million, freeing up space for more payments, token swaps, and other activities per block.The 200 million gas limit allows Ethereum to absorb more activity before users start bidding for block space, thereby alleviating fee spikes during transaction surges or when popular tokens are launched. Larger blocks are also harder to verify, which may make it difficult for small-scale operators to keep up. Glamsterdam aims to gain additional capacity without excessively increasing chain operating costs. This upgrade also extends the block data propagation time from about 2 seconds to 9 seconds and plans to incorporate the handover and payment of block construction and verification into Ethereum's own rules, reducing reliance on external relay services.
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