Mars Financial News, according to BBX data, the prediction market faced a pincer attack yesterday, with traditional exchange infrastructure accelerating on-chain integration. Key developments are as follows: Robinhood Markets, Inc. (NASDAQ: $HOOD), operating within the prediction market/event contract ecosystem, suffered a dual regulatory blow yesterday: First, the U.S. Commodity Futures Trading Commission (CFTC) has launched a full investigation into Polymarket (privately held), covering its social media activities and suspected wash trading behavior; second, a Michigan court has ruled to prohibit Kalshi (privately held) from offering sports betting services to residents in Michigan. Although these two incidents directly target Polymarket and Kalshi, their strategic importance to Robinhood cannot be overlooked—Robinhood, through its subsidiary Robinhood Derivatives LLC, offers event contract products linked to KalshiEx LLC or ForecastEx LLC, making it the largest distribution channel for prediction markets among regulated U.S. brokers. The escalation of CFTC investigations and enforcement actions against similar platforms will directly impact the compliance structure and product expansion pace of Robinhood's event contract business; the average daily trading volume in this sector hit a record high in June. Nasdaq, Inc. (NASDAQ: $NDAQ) announced yesterday that it has selected Pyth Network (an on-chain price oracle protocol) as the on-chain distribution partner for its TotalView (Nasdaq's full market depth data product). This marks the first time Nasdaq has integrated its core institutional-level market data into the blockchain network—TotalView provides full-level bid/ask quotes and transaction data for the U.S. stock market, historically available only to traditional financial institutions via paid subscription; on-chain distribution means that DeFi protocols, decentralized exchanges, and smart contracts can, for the first time, access Nasdaq-level real-time equity market data as the basis for on-chain pricing. The Pyth Network token (PYTH) subsequently rose over 6%, with the market interpreting this as a historic fusion point between traditional securities market infrastructure and decentralized finance.

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CFTC launches comprehensive investigation into Polymarket, including allegations of wash trading, impacting the Robinhood event contract ecosystem; Nasdaq distributes TotalView market data on-chain via Pyth Network for the first time.

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