The Commodity Futures Trading Commission has proposed rules classifying prediction markets as derivatives, which would pull event contracts covering sports, politics, culture and weather under its existing swaps framework. The significance is less about any single platform than about which rulebook applies, since derivatives classification brings registration, reporting and customer protection obligations that these venues have largely operated without. Elsewhere on the regulatory map, Hong Kong plans a crackdown on unlicensed payment platforms, and Argentina's central bank reaffirmed its crypto ban. Separately, XRP treasury company Evernorth completed its SPAC merger and is scheduled to list on Nasdaq Monday.