责任编辑：陈钰嘉 美国内华达州博彩监管局对加密货币交易平台Coinbase提起民事诉讼，指控该平台通过旗下预测市场产 品，在未取得相关牌照的情况下提供体育博彩服务，违反了该州相关法律。 诉状显示，内华达州博彩管制委员会本周正式提起诉讼，要求叫停Coinbase推出的与体育赛事结果挂钩 的事件型合约，并称这类合约属于博彩行为，平台开展相关业务必须持有该州的博彩经营牌照。 Coinbase的预测市场平台支持用户交易与体育、政治等各类现实事件挂钩的合约产品。内华达州监管机 构认为，无论相关合约的结构设计或名称标注如何，只要其标的为体育赛事结果，就属于该州博彩法规 的监管范畴。 此次诉讼距Coinbase与Kalshi合作在全美推出预测市场产品仅过去数周——双方合作后，该类产品已在 美国全部50个州上线。 彼时Coinbase曾辩称，这类合约属于联邦层面监管的事件市场产品，并非传统博彩；该平台此前还因类 似的监管执法行动，对密歇根州、伊利诺伊州和康涅狄格州的监管机构提起诉讼，称各州的博彩监管规 则与联邦商品交易法存在冲突。 而内华达州此次的诉讼直接驳斥了这一观点，坚称与体育赛事挂钩的合约仍受州级监管机构管辖。诉状 显 ...

Core Insights - Interactive Brokers (IBKR.US) reported better-than-expected earnings for Q4 2025, driven by strong customer trading volume and interest income, showcasing operational resilience in a volatile market environment [1][2] Financial Performance - Total net revenue reached $1.64 billion, in line with market consensus, and up from $1.61 billion in the previous quarter and $1.39 billion year-over-year [1] - Adjusted earnings per share (EPS) were $0.65, exceeding the market expectation of $0.59, and significantly higher than $0.57 in Q3 and $0.35 in the same quarter last year [1] Operational Metrics - Daily Average Revenue Trades (DARTs) increased by 30% year-over-year to 4.04 million, also higher than 3.62 million in Q3 [2] - Commission income rose by 22% to $582 million, driven by increased customer trading volume, with options, futures, and stock trading volumes growing by 27%, 22%, and 16% respectively [2] - Net interest income remained stable at $966 million, nearly unchanged from Q3 ($967 million) and significantly up from $807 million year-over-year [2] Customer Growth - Total customer accounts grew to 4.4 million, up from 4.13 million in the previous quarter and 3.34 million year-over-year [2] Cost Management - Execution, clearing, and distribution expenses for Q4 were $91 million, a 21% decrease year-over-year and slightly lower than the previous quarter [3] Strategic Initiatives - The company is expanding its cryptocurrency and prediction market product offerings, recently allowing customers to fund their brokerage accounts using USDC stablecoin, enhancing transaction speed and flexibility [3] - As of the beginning of December, customer accounts reached 4.399 million, a 32% year-over-year increase, with daily average revenue trades at 3.384 million, up 4% year-over-year but down 21% from November [3]

Core Insights - Gemini Space Station's derivatives exchange application has been approved by the U.S. Commodity Futures Trading Commission (CFTC) [1] - The approval allows Gemini to potentially enter the prediction market space and increase the number of native crypto companies in the industry [1] Company Summary - Gemini Space Station's stock rose by 13.6% to $12.91 in pre-market trading following the CFTC approval [1] - The company has not publicly disclosed which products it plans to trade on the new exchange, but regulatory documents mentioned various prediction markets [1]

Group 1 - Gemini Space Station (GEMI.US) shares rose by 13.6% to $12.91 in pre-market trading following the approval of its derivatives exchange application by the Commodity Futures Trading Commission (CFTC) [1] - The company has not publicly disclosed which products it plans to trade on the exchange, but regulatory filings mentioned various prediction markets [1] - This approval positions Gemini to potentially enter the prediction market space and increase the number of native crypto companies in the industry [1] Group 2 - The closing price of Gemini Space Station on December 10 was $11.360, with a pre-market price of $12.910 reflecting a gain of $1.550 [2] - The stock's trading volume was 2.767 million, with a market capitalization of $1.337 billion [2] - The stock has a 52-week high of $45.890 and a low of $9.674, indicating significant volatility [2]