Morning Crypto Market Digest: June 17 — Gambling Lobby vs. Prediction Markets, Banking License for World Liberty Financial, and New Coinbase Features
The market started the day in a sideways trend. Bitcoin (BTC) is trading around $65,858, temporarily stuck between support at $65,315 and resistance at $66,928. Ethereum (ETH) is also flat at $1,793. However, the main events are unfolding not on the charts, but in the regulatory and institutional landscape.
US Gambling Industry vs. Sports Prediction Markets
Major US gambling industry associations have sent a letter to the Senate demanding a ban on sports and casino-like prediction markets as part of the upcoming crypto regulation bill. In their view, platforms like Polymarket have triggered the "largest expansion of gambling in US history," disguising bets as regulated financial products. The gambling lobby insists that the CFTC lacks both the expertise and infrastructure to oversee sports betting.
The key document remains the Clarity Act, which has already passed the Senate Banking Committee. Against this backdrop, several states have filed lawsuits against Kalshi and Polymarket, increasing pressure on the sector. Prediction markets are clearly moving into a zone of high turbulence.
World Liberty Financial: A Step Toward a Federal Banking License
A crypto project affiliated with the Trump family is close to obtaining a national trust bank charter from the Office of the Comptroller of the Currency (OCC). According to insiders, approval is virtually guaranteed. The license will allow World Liberty to independently issue and redeem the USD1 stablecoin, manage reserves, and store digital assets under a single federal regulator—without intermediaries.
This step will inevitably intensify political debates over conflicts of interest: the Trump family holds a significant stake in the project, and 75% of revenue from WLFI token sales goes to a structure controlled by the president. In any case, obtaining a federal license will be a powerful signal for the entire stablecoin market.
Coinbase Transforms into a Universal Financial Supermarket
The exchange has allowed users to transfer existing stock portfolios from other brokerage firms to the platform via the ACATS system—without needing to sell assets. This complements the stock and ETF trading launched earlier this year, covering approximately 6,000 securities.
Users are offered commission-free trading, fractional shares, and up to 3.5% annual yield on USDC balances. Coinbase is steadily moving toward the status of a full-fledged financial service, combining traditional and digital assets in a single interface. This is a strategically sound move that could significantly expand the user base by attracting conservative investors.
My view: The market is in a consolidation phase, but regulatory signals are becoming increasingly clear. The battle over the right to regulate prediction markets and the banking license for World Liberty Financial are not just news—they are indicators of what the crypto industry will look like in 12–18 months. Institutional integration continues, and those who ignore these trends will have to catch up.