Hyperliquid backs the SEC’s repeal of the trade-through rule, calling for the establishment of best execution guidelines for on-chain markets.

Data from prediction market platform Predict.fun shows that for the forecast question "What will be the market capitalization of meme coin Niu Lai before November 2026?", the probability that Niu Lai’s market cap reaches $50 million is currently the highest at 94%; the probabilities of hitting $75 million, $100 million, and $150 million are 52%, 32%, and 20% respectively. Note: Prediction market probabilities may change in real time with market trades, please refer to the latest data on the platform.

The U.S. Department of the Treasury has issued a notice of proposed rulemaking, soliciting public comments on the payment stablecoin regulatory framework under Section 3 of the GENIUS Act. Per the legislation, starting January 18, 2027, any individual issuing payment stablecoins in the U.S. must obtain a federal or state license; digital asset service providers are prohibited from offering foreign-issued payment stablecoins unless the foreign issuer has the technical capability to comply with U.S. laws and reciprocal arrangements. Starting July 18, 2028, all payment stablecoins that service providers offer or sell to persons within the U.S. must be issued by a licensed issuer. Treasury Secretary Scott Bessent stated, “Trump and Congress passed the GENIUS Act, establishing a landmark framework and clear rules for payment stablecoins, and the Treasury is moving quickly to implement it.” The core of this proposed rule is to define the specific meanings of “issuing payment stablecoins in the U.S.” and “offering or selling to persons within the U.S.,” clarifying for the industry when a license is required and how to operate compliantly in the U.S. market. The public may submit comments within 60 days of the notice’s publication in the Federal Register. This rulemaking builds on a prior notice issued by the Treasury last September, marking the transition of stablecoin regulation from a framework act to the implementation of enforceable rules, which will directly impact the compliance paths of major stablecoin issuers including USDC and USDT, as well as trading platforms.

According to market data from BIT (bit.com), U.S. stocks opened with the Dow Jones Industrial Average down 0.3%, the S&P 500 nearly flat, and the Nasdaq up 0.2%. The U.S. storage sector saw broad gains, with Seagate Technology (STX) rising 1.19%, Western Digital (WDC) up 2.4%, SanDisk (SNDK) climbing 5.4%, Micron Technology (MU) increasing 4.3%, and SK Hynix ADR gaining 3.8%.

According to market data from BIT (bit.com), crypto-related stocks posted broad gains at the opening of the US stock market. Specifically: Strategy (MSTR) rose 3.2% — it did not add Bitcoin holdings last week, instead selling $334 million worth of stocks, pushing its dollar reserves to $4.8 billion. Coinbase (COIN) gained 1.07%, Circle (CRCL) climbed 1.6%, BitMine Immersion (BMNR) advanced 2.6%, and SharpLink Gaming (SBET) increased 1.42%.

According to BIT (bit.com) market data, the US stock market’s optical communication sector led gains at opening, with: Roundhill Optical Module ETF (LYTE) up 3.53%; Pure Photonics ETF (FOTO) up 0.73%; Corning (GLW) up 1.34%; Coherent (COHR) up 3.54%; Marvell Technology (MRVL) up 5%; Lumentum Holdings (LITE) up 0.7%; and Ciena Corporation (CIEN) up 0.75%.

JPMorgan Chase notified Polymarket in October 2025 that it would terminate its partnership over regulatory concerns. Polymarket has since shifted its banking operations to another unnamed lender. However, the two parties have not completely severed ties; JPMorgan stated it intends to pursue an underwriting role if Polymarket launches an initial public offering (IPO) in the future. A source familiar with the matter said, "They don't want to burn all bridges." Polymarket, in turn, pushed back against claims that the two sides have largely cut ties, stressing that it maintains "close, active relationships with JPMorgan across multiple entities, operational integrations, and the substantial handling of customer cash flows." Prediction markets are seeing explosive growth, with their nominal transaction volume exceeding $250 billion in 2026. This growth has also drawn heightened regulatory scrutiny, with more than 12 U.S. states filing lawsuits against Polymarket and Kalshi, accusing them of operating illegal sports betting. Recently, the U.S. Commodity Futures Trading Commission (CFTC) invoked emergency powers to order Kalshi to keep operating in New York, as a jurisdictional dispute between federal and state authorities continues to escalate. Meanwhile, the U.S. government is conducting "debanking" investigations into multiple large banks; former President Donald Trump has himself sued JPMorgan Chase and its CEO Jamie Dimon, alleging they closed his accounts for political reasons. JPMorgan’s dual stance—balancing existing banking relationships with potential business opportunities—reflects the caution traditional financial institutions are exercising as the regulatory boundaries for prediction markets remain unclear.