Arbitrum-based DuelNow receives $11M funding as Web3 betting heats up

The US Commodity Futures Trading Commission submitted two proposed rules to the White House on September 28, intending to include event contracts in the definition of "swaps" and exclude casino style gambling products. The former rule will be publicly solicited for opinions, while the latter is a temporary final rule that is planned to take effect after publication and subsequently solicit opinions. Currently, the text of the rule has not been released yet. The definition of exchange is related to the jurisdictional dispute between the prediction market and state-level gambling regulatory agencies. The Sixth Circuit Court of Appeals recently ruled that Kalshi's sports contract does not constitute a swap. The Third Circuit Court supports Kalshi, the Ninth Circuit Court supports Nevada, and New Jersey has requested the United States Supreme Court to resolve the dispute between the circuit courts. (Source: Bitcoin.com News)

On chain analyst Darkfost stated that the scale of stablecoin inflows exceeding $1 million into Binance has increased recently, with a cumulative inflow of over $21.7 billion in 30 days increasing to $30.5 billion, an increase of over 40%. The inflow of stablecoins into exchanges corresponds to potential buying pressure, but the current deployment scale of funds by Giant Whale is lower than the $61 billion in October last year.

The United States will release its September non farm payroll report at 20:30 on Friday. According to a Reuters survey, the number of non farm payrolls in the United States is expected to increase by 90000 in September, lower than the 162000 in August, and the unemployment rate is expected to remain at 4.1%. (Source: Reuters) AI interpretation: The non farm payroll report is a core indicator for measuring the momentum of the US economy, directly determining the marginal shift of the Federal Reserve's monetary policy. The expectation of slowing employment growth reflects a substantial cooling of the supply and demand relationship in the labor market, which provides necessary data support for further easing by the Federal Reserve. The market will confirm the quality of the economic soft landing through this data and recalibrate the pricing of the interest rate path accordingly. The release of this data will trigger severe fluctuations in the financial market and become a core indicator for subsequent asset allocation.

Paul Atkins, Chairman of the US Securities and Exchange Commission (SEC), stated in an interview that he hopes the stock market will move towards on chain and believes that the tokenization super cycle is in its early stages.

The US SEC proposes allowing investment advisors to hold clients' cryptocurrency assets on their own without a qualified custodian, and allowing state trust companies to act as cryptocurrency custodians.