Polymarket and Kalshi are in talks with the UK's Financial Conduct Authority (FCA) as they explore opportunities to enter the UK market. This engagement comes amid discussions about potentially easing the current ban on binary options for retail investors in the Square Mile. The move could help trading platforms expand their international presence, although regulatory challenges remain.

Singapore is grappling with the rise of Hyperliquid Labs, whose highly leveraged perpetual futures have drawn scrutiny as regulators seek to balance digital-asset innovation with retail investor protection. Hyperliquid says it is based in Singapore, while the Monetary Authority of Singapore has warned that its perps are not regulated by the agency, highlighting uncertainty over oversight of decentralized crypto platforms.

Coinbase Financial Markets has integrated Deribit to form the Coinbase Global Exchange, creating a single regulated liquidity pool that connects US and international crypto derivatives markets. The integration gives traders access to more than $30 billion in Bitcoin options open interest and more than $1 trillion in trading volume from last year.

Ion Platform has assured creditors it will not use aggressive tactics to manage its $11 billion debt, aiming instead to repay lenders in full. This reassurance comes amid increased scrutiny of Ion's capital structure following a decline in bond prices earlier this year. Ion's third-quarter results show a 7% increase in revenue and a significant rise in net profit.

US fund managers have significantly reshuffled their dealer books amid record trading volumes, with Citi seeing a $13.8 billion reduction in FX forwards positions and a $3.5 billion drop in FX options. Mutual funds and exchange-traded funds increased their forwards book to $1.52 trillion, while FX options volumes fell by 18%. Vanguard and Fidelity were notable for expanding their forwards positions, with Wells Fargo and Bank of America benefiting the most.

JPMorgan Chase CEO Jamie Dimon has raised concerns about the increased cybersecurity risks posed by Anthropic PBC's Mythos AI model, stating that risks have surged tenfold. The AI model has been found to create vulnerabilities, including attempts to insert harmful code into online software. Despite these challenges, Dimon emphasizes a proactive approach to addressing the issues rather than succumbing to panic.

Kalshi is adding low-volume tags, Brier scores and live activity feeds to its election contracts to show traders how active markets are and how closely implied probabilities match outcomes. The changes come as election markets grow faster than football contracts and as more users browse midterm markets than trade them. Kalshi also introduced a perpetual future contract tied to its US 500 index, which tracks 500 major US companies, and is currently seeking approval for 10-year US Treasury perps.

Research from the National Bureau of Economic Research reveals that prediction markets, despite attracting demographically skewed participants, do not exhibit systemic political bias. The study, covering data from 1880 to 2025, credits financial incentives for maintaining market accuracy. These insights emerge as US regulators intensify their focus on potential market manipulation and insider trading within these platforms.

Financial firms are set to increase their spending on derivatives market data, driven by the need for real-time information and AI-enabled trading workflows, according to a study by Crisil Coalition Greenwich and SIX. The research found that 73% of firms expect to boost their data budgets over the next 12 to 18 months, with a significant focus on lowering latency and enhancing data quality for AI applications.

Efforts to pass comprehensive crypto legislation have faced significant obstacles, as highlighted by the failure of industry-backed bills in the Senate. Despite efforts from the CFTC and the SEC to enforce regulation, the real barrier seems to be the industry's reluctance to submit to traditional regulations. This ongoing legislative gridlock underscores the challenge of reconciling industry demands with existing legal frameworks.

The Monetary Authority of Singapore (MAS) has introduced guidelines for AI risk management to ensure responsible AI adoption in the financial sector. These guidelines apply to all financial institutions and AI technologies, establishing a scalable risk-proportionate standard. Key requirements include board oversight, risk assessment and accountability for third-party AI services.