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Massachusetts Judge Christopher Barry-Smith ruled on Tuesday that the state has the authority to prohibit the prediction market Kalshi from offering sports betting services within its borders. The ban could take effect as early as this Friday, and if implemented smoothly, it would become the first of its kind in the nation.In his ruling, the judge stated that any company wishing to operate sports betting in Massachusetts must comply with state laws, including obtaining the necessary licenses from the Massachusetts Gaming Commission (MGC). Previously, Kalshi argued that it was regulated by the Commodity Futures Trading Commission (CFTC), and thus the state government had no authority to intervene, but the judge dismissed this argument. Kalshi began offering sports betting services in January 2025, and by May of the same year, sports betting accounted for 70% of its total revenue.

ChainCatcher news, during the RootData Crypto Capital Markets Forum held at TOKEN 2049 in Singapore, RedStone Strategic Advisor Mike Massari delivered a keynote speech on Oracle Extractable Value (OEV). He introduced that RedStone is one of the fastest-growing oracles, currently serving over 100 clients and supporting more than 60 chains, securing $4 billion in assets.He pointed out that the current liquidation process in DeFi is like a "knife fight," where chaotic gas fee competition leads to value loss for protocols and network congestion. He proposed that OEV (Oracle Extractable Value) is the missing key process in DeFi that can transform noise into order.He showcased RedStone Atom, which executes liquidations in an orderly manner within 300 milliseconds through an off-chain FastLane auction layer and an on-chain relay. This solution returns the value previously captured by MEV bots back to the protocol itself. He revealed that during a 30-day proof of concept with the Venus protocol, the solution successfully captured $165,000 in liquidation value while achieving zero downtime.Finally, he emphasized that OEV is crucial for bringing real-world assets (RWA) and institutional capital into the ecosystem, as it adds an extra layer of security by providing fast and predictable liquidations, thereby reducing systemic risk and aligning with the risk-averse nature of large institutions.

ChainCatcher news, according to Cointelegraph, a committee of the Massachusetts state legislature plans to discuss a Bitcoin strategic reserve bill that was first proposed in February. In an update on the "Bitcoin Strategic Reserve" bill introduced by Republican State Senator Peter Durant, the Massachusetts Joint Committee on Revenue will hold a hearing to review the bill.It is currently unclear how likely any Republican-led bill is to pass in the Massachusetts legislature. The Democrats currently hold an absolute majority in both the state House and Senate, and control the governor's office. All representatives from the state in the U.S. House and Senate are also Democrats. The bill proposed by Durant would allow "any Bitcoin or other digital assets seized by the Commonwealth of Massachusetts" to be deposited into the reserve and authorize the state treasury to invest up to 10% of the Massachusetts Stabilization Fund in cryptocurrencies.

ChainCatcher news, according to Bitcoin.com, the Massachusetts Appeals Court has confirmed in an unpublished ruling that the lawsuit filed by plaintiff Lourenco Garcia against Santander Bank has been dismissed. The plaintiff reportedly sought to hold Santander Bank accountable for losses exceeding $750,000 in a cryptocurrency scam associated with a fraudulent crypto platform named Coinegg.The Massachusetts Appeals Court found that while Santander Bank could refuse or block any or all transactions, it was not obligated to do so. Furthermore, the plaintiff authorized each transaction and did not find that the bank violated any contractual terms or legal obligations.

ChainCatcher news, according to Reuters, the Massachusetts Securities Division has launched an investigation into Robinhood due to the recent launch of an in-app prediction market center that allows users to bet on the outcomes of various events, including the results of the "March Madness" college basketball tournament.

ChainCatcher news, Massachusetts State Representative Kate Lipper-Garabedian submitted a bill proposing the establishment of a special committee including state legislators to investigate matters related to blockchain and cryptocurrency.

ChainCatcher news, according to official sources, Massachusetts Senator Peter Durant has proposed a bill to establish a "strategic Bitcoin reserve" in the state. Notably, Massachusetts is the first deep blue state to propose legislation related to a "strategic Bitcoin reserve." At the same time, Massachusetts has become the eighth state to propose similar legislation.Currently, eight states in the U.S. have proposed legislation related to a "strategic Bitcoin reserve," namely: Oklahoma, New Hampshire, Wyoming, Texas, Pennsylvania, Ohio, and North Dakota.

ChainCatcher news, according to Bloomberg, BlackRock's actively managed ETF fund iShares Short Maturity Municipal Bond Active ETF (MEAR) has completed a milestone municipal bond transaction through JPMorgan's blockchain platform.The fund purchased a $6.5 million bond issued by the city of Quincy, Massachusetts, marking the first municipal bond fully issued and traded based on blockchain technology. The MEAR fund currently manages approximately $750 million and has updated its prospectus to support bond settlement through the blockchain platform.

ChainCatcher news, according to official documents, a federal jury in Massachusetts found 36-year-old Alan Joseph from Lancaster guilty of illegally operating a cryptocurrency exchange business on November 22.Prosecutors accused him of conducting at least four illegal cash-to-Bitcoin transactions between August 2020 and February 2021, including a suspicious transaction of $25,000. The court determined that Joseph violated federal law by converting cash from suspected counterfeit luxury goods transactions into Bitcoin without registering as a money transmission business.According to sentencing guidelines, money laundering can carry a maximum sentence of 20 years in prison, while illegally operating a money transmission business can result in a maximum of 5 years in prison, with each charge carrying a maximum fine of $250,000. The court is scheduled to deliver its sentence on February 24, 2025.

ChainCatcher News, U.S. Senator Elizabeth Warren defeated cryptocurrency-supporting Republican candidate John Deaton in the Senate race, winning the election in Massachusetts on Tuesday evening.This will be Warren's fourth term in the U.S. Senate. She is a member of the Senate Finance Committee and the Senate Banking Committee, the latter of which has jurisdiction over the U.S. SEC and CFTC. Warren has consistently criticized the cryptocurrency industry and supports an anti-money laundering bill that would extend the requirements of the Bank Secrecy Act (including KYC rules) to miners, validators, and wallet providers.

ChainCatcher message, AP reports that Vice President Harris is expected to win Connecticut, Rhode Island, and Massachusetts, while Trump is expected to win Oklahoma, Florida, and Tennessee.

ChainCatcher message, Coinbase CEO Brian Armstrong posted on X: "Residents of Massachusetts should vote for the lawyer John E Deaton who supports the crypto industry.Cryptocurrency holders in the state should be aware that it was Senator Elizabeth Warren who got Gary Gensler his job (SEC Chairman) and encouraged him to (illegally) try to stifle the cryptocurrency industry in the U.S. Fortunately, they were not successful, and we fought back alongside other industry professionals.Warren opposes freedom, believing that the government should manage all financial services, causing significant harm to the United States."

ChainCatcher news, cryptocurrency lawyer John Deaton has won the Republican Senate nomination in the Massachusetts primary and will compete against Democratic Senator Elizabeth Warren in November.According to the Associated Press on September 4, Deaton defeated two other Republican candidates. As of the time of publication, Deaton has received 64% of the vote.Notably, Deaton's campaign has garnered support from several prominent figures in the cryptocurrency industry, including the Winklevoss twins and executives from Ripple. The cryptocurrency political action committee Commonwealth Unity Fund has invested over $1 million in support of Deaton's campaign in Massachusetts. Deaton's major donors include founders and executives from companies such as Ripple, Gemini, SkyBridge Capital, Cardano, and Kraken.According to Federal Election Commission records, as of July 31, Deaton's campaign fundraising has reached approximately $1.7 million. Previously, Deaton submitted an amicus brief to the SEC on behalf of 4,701 Coinbase customers in support of the company's lawsuit against the SEC.

ChainCatcher news, according to Bitcoin Magazine, Massachusetts Senate candidate John Deaton announced that he has invested 82% of his total net worth into Bitcoin.John Deaton stated, "I oppose Elizabeth Warren's desire to ban self-custody."

ChainCatcher news, according to Reuters, the Massachusetts securities regulator is investigating the trading activities of GameStop (GME.N) and the trading activities of well-known investor Keith Gill. A spokesperson for the state's top securities regulator, Bill Galvin, confirmed that Gill's activities are under investigation but declined to comment further.Regulatory investigations do not typically indicate wrongdoing and do not lead to enforcement actions. Galvin previously investigated Gill's activities in 2021 but closed the case after reaching a settlement with Gill's former employer, MassMutual, over supervisory issues. Screenshots of trading on Reddit related to GameStop sparked a "meme stock" craze, but the U.S. Securities and Exchange Commission (SEC) found no evidence that short sellers were driving the frenzy after investigating and concluded that the market system was functioning well.Previous news, according to Caixin, the SEC is reviewing certain trades of GameStop call options, and the SEC is examining trades before and after Keith Gill's social media posts.

ChainCatcher news, according to foreign media reports, two men from Massachusetts, USA, used SIM card "swapping" vulnerabilities and other hacking techniques to steal approximately $330,000 in cryptocurrency, and they also hacked into many victims' social media accounts. For these crimes, they were sentenced to two years and one day, and two years and seven days in prison, respectively.It is reported that SIM swapping is a technique used by criminals to take control of the victim's phone number and access their online accounts. Criminals deceive mobile operators into reallocating the victim's phone number to a SIM card controlled by cybercriminals. (source link)