Author: Trader Edge

TLDR Blockchain investigator ZachXBT teased a major insider-trading investigation dropping February 26, naming no target Polymarket traders bet nearly $3 million on which crypto firm he will expose Solana-based Meteora leads the odds at 43%, followed by Pump.fun, Axiom, MEXC, and Jupiter World Liberty Financial entered the market after its USD1 stablecoin briefly depegged on February 23 Polymarket odds reflect trader speculation only — no confirmed evidence against any named firm Blockchain investigator ZachXBT posted on X that he will release a “major investigation” on February 26 into one of crypto’s most profitable businesses, alleging insider trading. He named no…

TLDR Six Democratic senators wrote to the CFTC urging a clear ban on prediction market contracts tied to death or injury The letter was led by Sen. Adam Schiff and sent to CFTC Chairman Michael Selig Federal rules already ban contracts linked to terrorism, assassination, and war — senators want death-related contracts added explicitly The letter called out Polymarket contracts on a NASA explosion, Venezuela’s Maduro, and Russia’s Ukraine invasion The CFTC recently reasserted exclusive federal jurisdiction over commodity derivatives markets Six Democratic senators are calling on the Commodity Futures Trading Commission to explicitly ban prediction market contracts that are…

TLDR ARK ETFs sold 480,919 DraftKings (DKNG) shares worth $11.16 million on February 19, continuing a two-day selling streak Needham cut its DKNG price target from $52 to $35, keeping a Buy rating after a Q4 2025 earnings miss Northland lowered its target from $30 to $24 with a Market Perform rating, citing heavy investment cycles TD Cowen slashed its target from $45 to $30, noting the stock sold off despite Q4 results beating expectations Multiple analysts flagged DraftKings’ weaker 2026 guidance as the core concern, driven by prediction market spending DraftKings (DKNG) had a rough week. The stock is…

TLDR Seven casino stocks are seeing high trading volume: DraftKings, MGM Resorts, Red Rock Resorts, Rush Street Interactive, PENN Entertainment, Super Group, and Melco Resorts. DraftKings holds a 34% share of the U.S. online sports betting market and grew revenue 30% to $4.77 billion in 2024, but remains unprofitable. MGM posted record revenue of $17.2 billion in 2024, with its online arm BetMGM on track for $2.75 billion in revenue in 2025. PENN Entertainment ended its ESPN Bet deal early in November 2025 after results missed expectations. Las Vegas Sands shut down its digital gaming arm in October 2025 to…

TLDR Trump directed agencies to identify and release government files on aliens, UAPs, and UFOs Former President Obama sparked the move by saying “aliens are real” on a podcast Prediction market odds of alien confirmation before 2027 jumped from ~11% to over 26% Trading volume on Polymarket and Kalshi reached millions of dollars after Trump’s announcement The Pentagon said in 2024 it found “no evidence” the U.S. government had encountered alien life President Donald Trump announced Thursday he would direct federal agencies to release government files on aliens, UAPs, and UFOs. The announcement triggered a sharp rise in prediction market…

TLDR A federal judge in Tennessee granted Kalshi a preliminary injunction, blocking state officials from enforcing local sports betting laws against it. Judge Trauger ruled Kalshi’s sports event contracts qualify as swaps under the Commodity Exchange Act (CEA), giving them federal protection. The court found Kalshi cannot comply with both state licensing rules and CFTC regulations at the same time. Courts in Maryland and Nevada have denied Kalshi similar injunctions, while New Jersey and now Tennessee have granted them. The CFTC has also filed a brief asserting exclusive federal jurisdiction over prediction markets in a related case. Prediction market platform…

TLDR Polymarket has acquired Dome, a Y Combinator-backed startup building a unified API for prediction markets Dome raised $500K from Y Combinator and $4.7 million in seed funding before the acquisition The deal gives Polymarket stronger developer tools to connect multiple prediction market platforms This is Polymarket’s first acquisition focused on developer infrastructure, following its earlier QCEX acquisition Polymarket has been expanding rapidly, with partnerships at Yahoo Finance, Google Finance, MLS, and the NHL Polymarket has acquired Dome, a startup backed by Y Combinator that was building a unified API for prediction markets. Both companies confirmed the deal on X…

TLDR The Trump administration’s CFTC is backing prediction markets Kalshi and Polymarket against state bans Nevada sued Kalshi after a federal appeals court rejected its request to pause state enforcement CFTC Chairman Michael Selig argues prediction market contracts are federal derivatives, not gambling Donald Trump Jr. has invested in Polymarket and is a strategic advisor for Kalshi, raising conflict of interest questions Several states including Nevada, Massachusetts, and Tennessee have filed lawsuits or cease-and-desist orders against these platforms The Trump administration has taken sides in a growing legal fight over whether prediction markets like Kalshi and Polymarket are financial products…

TLDR Novig raised $75M in a Series B round led by Pantera Capital, valuing it at $500M The platform operates commission-free, peer-to-peer sports trading with $4B+ annualized volume Novig has applied to the CFTC to become a licensed Designated Contract Market, legal in all 50 states About 23% of Novig users are profitable, versus roughly 2% on traditional sportsbooks Rivals Kalshi and Polymarket are valued at $11B and $9B respectively; DraftKings and FanDuel stocks have fallen 50%+ in six months Sports prediction market Novig has closed a $75 million Series B funding round, bringing its total raised to over $105…

TLDR Director Harry Sloan bought 100,000 DraftKings shares for ~$2.19 million at $21.85 each on February 17, 2026 Following the purchase, Sloan now holds 350,219 shares total DraftKings stock edged up 1.7% in premarket trading Wednesday before pulling back 2.20% Analysts trimmed price targets following cautious 2026 guidance, rising costs, and uncertainty around prediction markets DraftKings is down 36.85% year-to-date, with a current market cap of $19.38 billion DraftKings (DKNG) director Harry Sloan purchased 100,000 shares of Class A Common Stock on February 17, 2026, spending approximately $2.19 million. DraftKings Inc., DKNG The shares were bought at $21.85 each. Sloan…