Today's news highlights key developments in the crypto and blockchain space, including new political betting markets on the U.S. presidency, a pioneering cross-chain technology launch, and Detroit's innovative crypto payment system.
Kalshi Launches Political Betting Contracts for Trump Presidency
Prediction market Kalshi has expanded its offerings to include political betting contracts, allowing users to speculate on potential outcomes during President-elect Donald Trump's upcoming term. These contracts cover a range of political events, from possible impeachment proceedings to staffing choices. Following a legal victory against the CFTC, Kalshi became the first authorized platform for U.S.-based political event markets.
Hyperbridge Launches on Polkadot for Cross-Chain Communication
Hyperbridge, an interoperability protocol, launched on Polkadot, enabling scalable and secure cross-chain communication. This technology allows for the seamless transfer of assets and data across networks like Ethereum and BNB Chain, opening up versatile opportunities for decentralized applications. The architecture enhances security with zk-proof technology and on-chain finality validation.
Detroit to Enable Crypto Tax Payments via PayPal in 2025
Detroit announced a new initiative to allow residents to pay taxes and city fees using cryptocurrency through PayPal. Set to launch in mid-2025, this move positions Detroit as the largest U.S. city to adopt crypto payments, marking a significant step toward mainstream adoption.
These developments highlight the diverse applications of blockchain technology. From prediction markets to cross-chain solutions and local government adoption, blockchain innovation is driving progress across sectors for broad integration into society and the economy.
