Morning Crypto Market Overview: US gambling lobby vs prediction platforms, Trump's WLFI receives banking license, Coinbase launches stock transfers
The digital asset market enters Tuesday, June 17, in a sideways trend, but the event background continues to heat up. While Bitcoin consolidates near $65,858 and Ethereum hovers around $1,793, several significant processes are unfolding on the regulatory and institutional fronts.
Gambling Lobby vs. Prediction Markets
The largest U.S. gambling industry associations have sent a letter to the Senate demanding a ban on sports and casino-like prediction platforms as part of the new crypto regulation bill. In their view, services like Kalshi and Polymarket have triggered "the largest expansion of gambling in the country's history," disguising bets as regulated financial products.
The key document remains the Clarity Act, which has already passed the Senate Banking Committee and awaits a full floor vote. Gambling lobbyists insist that the CFTC lacks both the expertise and infrastructure to oversee this sector. Pressure is mounting: several states have filed lawsuits against Kalshi and Polymarket, which could fundamentally reshape the landscape of decentralized prediction markets.
World Liberty Financial: A Banking License in the Bag?
The crypto project linked to the Trump family — World Liberty Financial — is one step away from obtaining a federal banking license as a national trust bank. According to insiders, OCC head Jonathan Gould is ready to announce a decision soon, and approval is considered "virtually guaranteed."
The license would allow WLFI to independently issue and redeem the USD1 stablecoin, manage reserves, and store digital assets under a single federal regulator — without intermediaries. This would significantly strengthen the project's position but also spark new debates about conflicts of interest: the Trump family holds a substantial stake, and 75% of revenue from WLFI token sales goes to a structure controlled by the president.
Coinbase Becomes a Universal Broker
The exchange has taken another step toward becoming a full-fledged financial super-service. Users can now transfer existing stock portfolios from other brokerage firms to the platform via the ACATS system — without needing to sell their assets.
The feature complements stock and ETF trading (around 6,000 securities) launched earlier this year. Clients are offered commission-free trading, fractional shares, and up to 3.5% annual yield on USDC balances. This directly intensifies competition with traditional brokers and is another signal that crypto exchanges are increasingly encroaching on classical finance.
Analytical Commentary from Cryptalist: The prediction market is under dual pressure — from regulators and the traditional gambling lobby. However, such "borderline" sectors often become catalysts for clearer legislation. As for WLFI, obtaining a banking license could set a precedent for a whole wave of politically affiliated crypto projects. Coinbase, meanwhile, is methodically building a bridge between TradFi and DeFi — and this is a long-term bullish signal for the entire ecosystem.