Hey crypto addicts,

Kraken’s parent company, Payward, has reportedly pushed its long-awaited IPO to the second quarter of 2027 at the earliest. The company had already paused its listing plans earlier this year as weaker crypto prices, trading volumes and valuations created a tougher market for new listings.

Despite the delay, Payward continues to show solid business growth, with second-quarter adjusted revenue reaching $508 million, up 17% year over year. The company also saw funded accounts rise 42% to 6.6 million, showing that demand for its platform remains strong.

The delay highlights the difficult environment facing crypto companies looking to enter public markets. Kraken still appears committed to going public, but the company may be waiting for stronger market conditions before making its next move.☕

What we’ve covered for you today:

Kalshi’s battle over sports prediction contracts is heading toward the U.S. Supreme Court, putting the growing prediction-market industry under the spotlight. The dispute centers on whether federal regulators can allow sports-related contracts despite challenges from state authorities.

The case could have major implications for how prediction markets operate across the U.S. and where federal and state powers draw the line. A ruling in Kalshi’s favor could strengthen the company’s ability to expand its sports contracts nationwide.

With prediction markets growing rapidly, the Supreme Court’s decision could help define the legal boundaries of an emerging financial sector and determine how much room these platforms have to operate in the future.☕

OpenSea is bringing Solana NFT trading back to its platform through OS2, marking another step in its broader push beyond Ethereum-based digital collectibles. The integration allows users to buy, sell and trade Solana NFTs directly through the updated marketplace.

The move comes as OpenSea looks to rebuild its position in the NFT market by supporting more blockchains and expanding its overall ecosystem. Solana has become an important network for digital collectibles, with a large and active NFT community.

The bigger picture is that NFT marketplaces are becoming increasingly multichain. By adding Solana, OpenSea is positioning itself to capture activity across different ecosystems rather than relying on a single blockchain.☕

Ondo is pushing U.S. regulators to allow stock perpetual contracts, arguing that the products could give investors more flexible and around-the-clock access to traditional equities.

The proposal would bring perpetual-style trading into the world of stocks, potentially allowing investors to gain exposure to equities without directly owning the underlying shares. Ondo believes regulated versions could expand access while keeping the products within established financial rules.

The bigger picture is another step toward blending traditional markets with crypto-style infrastructure. If regulators approve these products, stock trading could become more accessible, global and increasingly connected to the onchain economy.☕

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Kalshi is facing a legal dispute in New Jersey over its sports prediction contracts, with the state Supreme Court weighing whether state authorities can restrict the products despite Kalshi operating under federal oversight from the CFTC. New Jersey argues the contracts function like sports betting and should fall under state gambling laws,

Ondo is urging U.S. regulators to create a framework that would allow stock perpetual contracts to operate onshore, arguing that these products could give investors around-the-clock access to U.S. equities. The company says regulated stock perps could offer greater flexibility and potentially bring trading activity

G20 members are moving toward clearer regulatory frameworks for digital assets, with finance officials emphasizing the need to support innovation while addressing risks across crypto markets. The discussions focus on improving regulatory coordination, strengthening oversight and creating more consistent rules

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