Core Insights - Enlivex, a Nasdaq-listed biopharma company, announced its acquisition of $212 million worth of Rain, the native token of the Rain Protocol, aiming to become the largest corporate holder of Rain and activate it for yield [1] - Rain Protocol, launched in 2023 on the Arbitrum blockchain, has a current market valuation of $1.8 billion [2] Industry Overview - Prediction markets are gaining traction, with significant investor interest and regulatory scrutiny, highlighted by Kalshi's recent $1 billion funding round, raising its valuation to $11 billion, and Polymarket's similar funding round valuing it at $8 billion pre-money [3] - Major platforms in the prediction market space reported over $3 billion in trading volume last quarter, a fivefold increase from the previous year, contributing to a total of over $28 billion in trading volume this year, with projections reaching $95.5 billion in the next decade [4] Regulatory Landscape - Despite growth potential, regulatory challenges are emerging, particularly in the US, where state gaming regulators are contesting the operations of platforms like Kalshi, alleging they function as unlicensed gambling platforms [5] - Kalshi has faced at least seven cease-and-desist orders from state regulators this year, while Polymarket, previously banned in Romania, is set to re-enter the US market after receiving CFTC approval [6]

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