Today's news highlights key developments in the crypto and blockchain space, from new political betting markets on the U.S. presidency to a pioneering cross-chain technology launch, and Detroit’s forward-thinking crypto payment system.
Kalshi Rolls Out 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. After a legal win against the U.S. Commodity Futures Trading Commission (CFTC) in September, Kalshi became the first platform legally authorized to operate U.S.-based political event markets.
Hyperbridge Launches on Polkadot
Hyperbridge, a blockchain interoperability protocol, launched on Polkadot, enabling scalable and secure cross-chain communication. This technology allows users and developers to transfer assets and data seamlessly across networks like Ethereum, Optimism, and others.
Detroit to Enable Crypto Tax Payments in 2025
Detroit announced that residents will soon have the option to pay taxes and city fees using cryptocurrency through PayPal's secure payment platform. Set to go live in mid-2025, this initiative makes Detroit the largest U.S. city to adopt crypto payments.
Today's developments demonstrate the wide-ranging applications of blockchain technology. From political prediction markets to cross-chain solutions and local government adoption, blockchain continues to drive innovation and push boundaries.
