Today's news highlights key events 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's Political Betting Markets 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. 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. Leading up to the 2024 election, political betting surged, with companies like Robinhood and Interactive Brokers also entering the market.
Hyperbridge Launches on Polkadot
Hyperbridge, a blockchain interoperability protocol, launched on Polkadot, enabling scalable and secure cross-chain communication. This development promises to accelerate the growth of decentralized finance (DeFi), DAOs, and multichain assets.
Crypto Tax Payments in Detroit by 2025
Detroit announced that residents will soon have the option to pay taxes and city fees using cryptocurrency through PayPal's secure payment platform starting mid-2025. This makes Detroit the largest U.S. city to adopt crypto payments, following municipalities like Miami Lakes, Florida, and Williston, South Dakota.
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.
