๐ Global & Macro: A coalition including former Senator Chris Dodd, former CFTC Chair Gary Gensler, the NFL, 39 states, and 145 tribal nations urged the U.S. Supreme Court to rule that states, not the CFTC, should regulate sports prediction markets, arguing the Dodd-Frank Act did not empower the CFTC to override state gambling laws. The CFTC separately issued draft rules confirming casino-style gambling falls outside swaps but maintaining oversight of sports, political, cultural, and weather event contracts.
๐ฆ RWA & Institutional: The Moscow Exchange plans to launch regulated cryptocurrency trading on December 1, bringing digital asset trading under Russia’s formal regulatory framework โ a significant institutional step for crypto in a major emerging market.
โก Crypto & Markets: Bitcoin broke above $84,000, hitting a new milestone as the leading cryptocurrency extends its historic rally amid strong market momentum.
๐ก Key Takeaway: Bitcoin’s surge past $84K and Russia’s move toward regulated crypto trading signal accelerating institutional adoption, while the U.S. regulatory tug-of-war over prediction markets underscores ongoing jurisdictional uncertainty.