This morning, I read a few things about prediction markets: Top-tier hype is in full swing (Polymarket) Trump Jr.'s fund, 1789 Capital, led Polymarket's latest $1 billion funding round. 1789 Capital threw in $300 million, instantly boosting its valuation to $21 billion. ️ Compliance bros are taking hits (Kalshi) The U.S. Ninth Circuit Court ruled 3-0 that Kalshi's sports event contracts fall under the category of sports betting and should be regulated by individual states, not the CFTC. This directly targets the lifeline of their 72% sports revenue... On-chain regulatory arbitrage might just pull a fast one (Hyperliquid) HIP-4 permissionless deployment is live on mainnet. (As long as I don’t let U.S. users in, subpoenas from judges and politicians can’t catch me for now. ‍♂️) - Outcome dropped a $1M liquidity subsidy, covering markets for crypto, stocks, indices, commodities, and economic events, including BTC, HYPE, S&P 500, Nasdaq, gold, silver, WTI, and the September Fed decision. - Skew secured $500K staking from Hyperion to launch hourly BTC up/down markets.