News

Odaily reports that Polymarket, after leaving the US market for four years, is attempting to re-establish its domestic operations by acquiring a derivatives and futures exchange that already holds a US license, thereby returning to the regulatory framework, and has appointed Justin Hertzberg to oversee its US business. However, the latest developments show that Polymarket's US business progress is falling short of expectations, with its market share significantly lagging behind main competitor Kalshi. It is reported that Justin Hertzberg serves more as a "nominal CEO" within the company, with his main responsibilities focused on signing regulatory documents, and the actual operational and expansion capabilities of the US business are limited. Overall, Polymarket's return to the US market still faces dual challenges in terms of regulation and execution.

BlockBeats news, on May 7, Garrett Jin, the agent of the "BTC OG Insider Whale", published an article titled "Polished Ceasefire", pointing out that although the market appears calm on the surface, underlying risks are accumulating and traders should not relax. Following Trump's recent state visit to China (April 14 to 15), the US-Iran military window may reopen at any time. Ceasefire is not the beginning of good news, but a postponement of genuine conflict escalation. For now, everything looks optimistic on the surface: Saudi Arabia and Iran signed a 14-point memorandum, Apple's Q3 guidance far exceeded expectations, AMD's data center revenue hit a new high, Korean stocks set new records, Bitcoin is approaching 82-83k, and risk sentiment remains. However, the underlying market credit has begun to weaken: data analytics company Qualtrics aims for a large transaction but no one is willing to take it; US Spirit Airlines recently went bankrupt, an obvious signal of difficulties for low-cost carriers; banks, worried about escalation in the US-Iran war, have preemptively set aside bad debt provisions to safeguard against potential war risks. Berkshire's cash reserves hit a record high, and so on. Garrett Jin believes that the false peace between US and Iran will be polished until it can no longer be maintained, with late May possibly marking a turning point. However, if tech giants continue to outperform expectations, the market’s strong performance could last until the July earnings season, thus delaying the risk window further.

```htmlJinse Finance reported that on May 7, Michael Saylor, founder of the Bitcoin treasury company Strategy, posted on X that Strategy is transforming digital capital Bitcoin into digital credit (STRC) and digital equity (MSTR), further emphasizing its Bitcoin-centric capital market strategy.```