AMI

The prediction market platform Kalshi is suing the Nevada and New Jersey gaming commissions

ChainCatcher news, according to The Block, the prediction market platform Kalshi has filed a lawsuit against the gambling regulators of Nevada and New Jersey after receiving a cease-and-desist order from them. The regulators demanded that Kalshi stop offering sports-related contracts, arguing that such activities constitute sports betting, which can only be provided by entities licensed by the state.Kalshi argues in the lawsuit that, as an exchange regulated by the Commodity Futures Trading Commission (CFTC), it should be exclusively regulated by the federal government, and the Commodity Exchange Act takes precedence over state laws. The Nevada Gaming Control Board believes that Kalshi's contracts constitute gambling because the payouts are entirely dependent on the outcomes of external events, rather than the actions of the contract participants.Kalshi's CEO Tarek Mansour stated that prediction markets are an important innovation of the 21st century, and the company will defend this technology in court. The core of the dispute is whether event-based or sports-related contract trading constitutes gambling regulated by state governments or falls under the exclusive regulation of federal authorities as financial derivatives trading.ChainCatcher previously reported that New Jersey regulators have demanded Robinhood and Kalshi to cease providing sports betting services.

The blockchain gaming platform WEMIX suffered a hacker attack at the end of February, resulting in a loss of approximately 6.22 million dollars

ChainCatcher news, the blockchain gaming platform WEMIX under the South Korean listed gaming company Wemade disclosed a hacking incident on March 4, stating: "On February 28, 2025, approximately 8,654,860 WEMIX tokens were anomalously extracted due to a malicious external attack on Play Bridge Vault." WEMIX stated that it has taken immediate action to prevent further damage and is cooperating with law enforcement to track down the attackers. On March 13, the WEMIX Foundation executed 20 million WEMIX tokens to mitigate market impact.In addition, according to a report by Yonhap News Agency today, the loss caused by the hacking incident on February 28 amounted to approximately 9 billion won (about 6.22 million USD). The WEMIX Foundation emphasized in response to external accusations of delayed announcements that it "never had any intention or attempt to conceal the hacking incident." A representative of the WEMIX Foundation stated, "After discovering the hacking incident on February 28, we immediately shut down the affected servers and began a detailed analysis. On the same day, we submitted a complaint against the unidentified attackers to the Cyber Investigation Division of the Seoul Police Agency, and the National Investigation Agency is currently investigating. Since the method of intrusion has not yet been determined, hastily releasing an announcement could expose us to further attack risks, which is why we did not issue an immediate announcement. As most of the stolen assets have already been sold off, the market impact has already occurred, and it is difficult to ensure there are no further risks. If we had announced immediately, it could have triggered market panic."
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