News & Updates
The latest news and updates from companies in the WLTH portfolio.
Bitget Gives Traders Pre-IPO Exposure to SpaceX
Bitget has opened a new route into the SpaceX IPO narrative with SPCXUSDT, a pre-IPO perpetual contract designed for traders seeking early exposure to one of the most watched private companies in the world. The move does not give users actual SpaceX shares. It gives them a market instrument tied to expectations around a possible public listing, price discovery, and future valuation scenarios. Bitget's new SPCXUSDT contract arrives as retail traders increasingly look beyond pure crypto exposure, a shift already visible in Bitget's broader push toward equities, commodities, and AI-driven investing. SpaceX sits at the center of that appetite. Rockets, satellite internet, defense infrastructure, and commercial space are no longer distant ideas. They are becoming part of the next digital economy. The product is settled in USDT and runs on a 24/7 trading schedule. That matters because private-market expectations do not move only during Wall Street hours. News, rumors, funding rounds, and valuation estimates can reshape sentiment at any time. Bitget is using this launch to strengthen its Universal Exchange model. The idea is simple but ambitious. Crypto, tokenized assets, traditional financial exposure, commodities, and pre-IPO themes are being pulled into one trading environment. SPCXUSDT is not just another contract. It is a sign of how exchanges are trying to widen the borders of crypto trading. The key detail is easy to miss. SPCXUSDT offers exposure to SpaceX-related market dynamics, but it does not represent equity ownership in SpaceX. Traders are not buying shares. They are taking positions on a synthetic market that reflects expectations before any potential IPO. This distinction is crucial. Pre-IPO perpetual contracts can create a public-facing price signal before the official market exists. That can be useful for speculation and sentiment tracking. It can also become noisy, because the final IPO structure, share count, valuation, and timing remain uncertain. The contract supports up to 5x leverage, with funding fees settled every eight hours, according to Bitget's product details. This gives traders more flexibility, but also increases risk. In this kind of market, excitement can move faster than fundamentals. The launch fits into a wider debate around tokenized private markets. Earlier discussions around tokenized exposure to private companies such as OpenAI showed how sensitive this new segment can be. Investors want access. Regulators want clarity. Platforms want liquidity. SpaceX gives this debate an even sharper edge. The company is not a small startup looking for attention. It is one of the most valuable private technology companies in the world. Its name alone can attract traders who would normally never touch pre-IPO instruments. For Bitget, that creates both opportunity and pressure. A successful product can reinforce its image as a multi-asset exchange. A poorly understood product, however, can expose users to confusion. The line between access and ownership must stay clear. SpaceX attracts attention because it is more than a rocket company. Falcon launches, Starlink, and Starship have made it a reference point for the broader space economy. For many investors, SpaceX has become a shortcut for the entire sector. That sector is growing quickly. Satellite services, launch infrastructure, connectivity, navigation, defense, and data applications are pulling space into mainstream finance. The old image of space as a distant scientific field no longer works. It is now a commercial battlefield. This is why Bitget's move is strategically timed. The company is not only listing a speculative product around a famous name. It is capturing a bigger narrative: private tech giants are becoming tradable stories before they become listed stocks. That is where crypto exchanges see an opening. For Bitget, the opportunity is obvious. Pre-IPO markets were once reserved for venture capital funds, institutions, and wealthy investors. Products like SPCXUSDT bring part of that conversation to a much broader audience. That can democratize access to market expectations. But this is not a normal stock investment. A perpetual contract linked to a private company can move sharply, especially when leverage enters the equation. Traders may be attracted by the SpaceX name, but the instrument remains speculative by design. Bitget's SpaceX product may therefore become a useful test for the next phase of crypto trading, especially after its earlier experiments with IPO Prime products linked to high-profile private companies. The promise is early exposure. The condition is discipline. Without that, innovation can quickly turn into noise.
RaillyNews - SpaceX Brings Starlink to the Moon
Revolutionizing Deep Space Communication with Laser Technology SpaceX is pioneering a new era in deep space communication by developing high-bandwidth laser links capable of maintaining robust data connections with lunar bases and beyond. This cutting-edge technology aims to replace traditional radio frequency systems, offering exponential improvements in data transfer speeds and reliability for moon missions and future interplanetary exploration. Using optical laser beams instead of radio waves allows for faster, more efficient, and more secure data transmission across the vast distances of space. While radio systems are susceptible to atmospheric interference and require larger antennas, laser communication systems operate at near-infrared wavelengths, dramatically reducing latency and increasing bandwidth capacity. SpaceX has already demonstrated the immense potential of laser-based data links through its Starlink constellation. With over 9,000 laser-equipped satellites, the network can transfer more than 42 petabytes of data daily with 99.9% uptime. Individual links facilitate data speeds of up to 200 Gbps per connection, demonstrating the scalability and robustness of this technology. The next step involves adapting this high-capacity laser network for Moon missions. Unlike Earth-orbit satellites, lunar communication systems must compete with greater distances -- approximately 384,400 kilometers from Earth -- and the challenges posed by the lunar environment. Implementing laser links for the Moon involves overcoming obstacles like atmospheric distortion, alignment precision, and signal attenuation over long distances. When successfully deployed, laser communication networks will transform how data travels across space. They will enable instantaneous high-resolution video feeds, real-time scientific data analysis, and seamless communication for astronauts on lunar bases and Mars expeditions. Such a system will act as the backbone for humanity's future in deep space exploration, providing the high-capacity, low-latency links necessary for complex operations beyond Earth. Enhanced communication capacity will unlock new possibilities for commercial enterprises, such as deep space mining, planetary tourism, and scientific research stations. Governments and private firms will access unprecedented data bandwidth, aligning with growing interest in lunar resource utilization and sustainable space habitation. This network will empower scientists and engineers to conduct near-instant data sharing, accelerating discoveries and innovations in space technology.
WATCH REPLAY: SpaceX Falcon 9 Rocket Thundered into Memorial Day Monday Morning Sky - Space Coast Daily
By Space Coast Daily // May 25, 2026 Monday's mission marked the 35th launch from Florida's Space Coast in 2026 SpaceX Falcon 9 rocket launches on Memorial Day from Cape Canaveral with Starlink satellites (Spaceflight Now) BREVARD COUNTY * CAPE CANAVERAL SPACE FORCE STATION -- A SpaceX Falcon 9 rocket thundered into the Memorial Day morning sky Monday, giving residents and visitors along the Space Coast an early holiday spectacle as another batch of Starlink internet satellites headed to orbit. Liftoff for the Starlink 10-47 mission occurred on time at 7:48 a.m. from Launch Complex 40 at Cape Canaveral Space Force Station. The Falcon 9 climbed on a northeast trajectory, streaking across a mostly clear morning sky after overnight showers moved out of the region ahead of launch. The mission carried SpaceX's latest group of Starlink broadband satellites, continuing the company's rapid expansion of its global internet constellation. The launch produced the familiar roar heard across much of Brevard County as beachgoers, residents, and holiday visitors watched the rocket arc over the Atlantic Ocean. Monday's mission marked the 35th launch from Florida's Space Coast in 2026, continuing one of the busiest launch paces in the region's history. No sonic booms were heard in Brevard County following the launch. After stage separation, the Falcon 9 first-stage booster successfully landed aboard SpaceX's drone ship, "A Shortfall of Gravitas," stationed in the Atlantic Ocean downrange from the launch site. The successful mission adds to an increasingly active year for SpaceX operations on the Space Coast, where launches from Cape Canaveral and nearby Kennedy Space Center have become a near-weekly occurrence.
Indonesia blocks Polymarket after president's exit bets
Indonesia has blocked predictions market Polymarket as part of its crackdown on online gambling, its communications and digital ministry said, days after the site took bets on a premature end of Prabowo Subianto's presidency. Gambling is illegal in Indonesia and authorities have been clamping down on online wagering Ministry of Communication and Digital Affairs official Alexander Sabar said Polymarket was classified by Indonesia as an online gambling platform and its activities "contain betting and speculation over events that are inconclusive," therefore violating Indonesian law. Polymarket attracted attention on social media in Indonesia last week after a bet opened on when Prabowo would be "out as president". His term expires in 2029. The wager was launched on May 21, the day after Prabowo announced a major plan to centralise control of Indonesia's most prized commodity exports, such as coal and palm oil. Prabowo's administration has been under scrutiny from investors this year over its economic policy. Indonesia's government was combing over all social media accounts affiliated with Polymarket, ministry official Sabar said. The official said the decision was aimed at protecting the public, whom it urged "not to access or engage in speculative activities based on digital betting". "Activities like Polymarket's involve financial betting and speculation on events with uncertain outcomes, thus violating applicable Indonesian law," the statement added. The website maintains the bet titled "Prabowo Subianto out as President of Indonesia by...?", which has opened the door to speculation, some of which point to May 31, June 30 or December 31 of this year. Prediction platforms such as Polymarket allow users to profit from predictions on events such as sports and elections, in what is a multibillion-dollar industry. Some opponents, including some US states, have argued prediction markets are illegal and unlicensed under their local laws. At the end of April, the Brazilian government announced the blocking of prediction market platforms with bets on politics, culture and climate, such as Polymarket, which it considered "illegal" for not complying with current legislation.
Anthropic Co-Founder Warns AI Could Replace Human Labour At Massive Scale
He also said, 'The questions raised by AI are bigger than the AI research community.' Olah also called for earnest, thoughtful critics who could challenge companies and aid in steering the creation of powerful new systems in a positive direction. Olah also focused on three areas he said required urgent attention - the risk of widespread job losses, the requirement to ensure that AI benefits are extended worldwide, and the unresolved question of how to interpret increasingly complex and sometimes opaque system behaviour. He also raised a pretty important question - AI development is concentrated in a handful of wealthy nations. How can we ensure the gains of AI are shared globally?
Analyst Links DWF Labs to ESPORTS Market Making After $13.9M Kraken Deposit
An on-chain analyst has reportedly linked DWF Labs to market making activity involving the ESPORTS token after a $13.9 million token deposit was directed to the Kraken exchange, raising questions about the firm's involvement with the gaming-focused cryptocurrency. The claim, attributed to an analyst tracking blockchain fund flows, connects DWF Labs to a large deposit of ESPORTS tokens on Kraken. The $13.9 million figure represents a significant transfer relative to the token's typical trading volume, drawing attention from traders monitoring exchange inflows for signals of upcoming liquidity shifts. It is important to note that the connection between DWF Labs and the deposit remains an analyst-sourced claim, not an officially confirmed arrangement. Neither DWF Labs nor Kraken has publicly commented on the alleged market making relationship as of press time. Large token deposits to centralized exchanges are closely watched by market participants because they can precede several different types of activity. Kraken listed ESPORTS for trading on its platform, providing the infrastructure for the token to be traded against major pairs. A deposit of this size to an exchange could indicate liquidity provisioning, where a market maker places inventory on an order book to tighten spreads and improve trading conditions. It could also signal preparation for large-scale selling, which would create downward price pressure. The distinction matters significantly for traders. Liquidity provisioning typically stabilizes price action by reducing slippage on both buy and sell orders. Directional selling, by contrast, can trigger cascading sell pressure, particularly in tokens with thinner order books, similar to dynamics observed when exchanges adjust leveraged trading pairs and liquidity shifts rapidly. Market making, at its core, involves continuously quoting buy and sell prices to facilitate trading. A designated market maker profits from the spread between bid and ask prices while providing liquidity that benefits other participants. When an analyst publicly links a well-known firm like DWF Labs to market making on a specific token, sentiment effects can be immediate. Traders often interpret the presence of a large market maker as a sign of institutional confidence in the token's near-term trading viability. However, the label "market making" can also mask other activities. Without transparency into the specific terms of any arrangement, market participants cannot distinguish between neutral liquidity provision and arrangements that may involve token sales on behalf of a project, a distinction that matters for understanding potential sell pressure. Platforms offering on-chain data query tools can help traders investigate such flows independently. Confirmation or refutation of the analyst's claim will depend on observable on-chain and exchange-level activity in the coming days. Traders tracking this situation should watch for several specific signals. First, wallet tracking tools can reveal whether the depositing address has historical ties to known DWF Labs wallets. Patterns of prior transactions, token approvals, and interactions with DWF-linked contracts would strengthen or weaken the analyst's attribution. Second, changes in ESPORTS order book depth on Kraken would indicate whether the deposited tokens are being used for two-sided market making or positioned for directional selling. A sudden increase in both bid and ask liquidity would suggest the former. Third, any official statement from DWF Labs or the ESPORTS project team would provide definitive clarity. In the absence of such confirmation, the connection remains speculative, and traders should weigh it accordingly. Programs that reward liquidity providers have become increasingly common across the industry, making market making arrangements more frequent but not always publicly disclosed. No. The link between DWF Labs and ESPORTS market making activity is based on an analyst's interpretation of on-chain data. Neither DWF Labs nor the ESPORTS project has issued a public statement confirming or denying the relationship. Large deposits to centralized exchanges like Kraken signal that tokens are being moved from private wallets to a venue where they can be traded. This can mean the depositor intends to sell, provide liquidity as a market maker, or facilitate other trading operations. The size of the deposit relative to normal trading volume determines how much attention it receives. Market making involves continuously placing buy and sell orders on an exchange to provide liquidity. Market makers profit from the spread between their bid and ask prices. In cryptocurrency markets, designated market makers often work with token projects to ensure sufficient liquidity on exchanges, reducing price slippage for retail traders. Additional source references: source document 1. Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
Indonesia blocks Polymarket after president's exit bets
Indonesia has blocked predictions market Polymarket as part of its crackdown on online gambling, its communications and digital ministry said, days after the site took bets on a premature end of Prabowo Subianto's presidency. Gambling is illegal in Indonesia and authorities have been clamping down on online wagering Ministry of Communication and Digital Affairs official Alexander Sabar said Polymarket was classified by Indonesia as an online gambling platform and its activities "contain betting and speculation over events that are inconclusive," therefore violating Indonesian law. Polymarket attracted attention on social media in Indonesia last week after a bet opened on when Prabowo would be "out as president". His term expires in 2029. The wager was launched on May 21, the day after Prabowo announced a major plan to centralise control of Indonesia's most prized commodity exports, such as coal and palm oil. Prabowo's administration has been under scrutiny from investors this year over its economic policy. Indonesia's government was combing over all social media accounts affiliated with Polymarket, ministry official Sabar said. The official said the decision was aimed at protecting the public, whom it urged "not to access or engage in speculative activities based on digital betting". "Activities like Polymarket's involve financial betting and speculation on events with uncertain outcomes, thus violating applicable Indonesian law," the statement added. The website maintains the bet titled "Prabowo Subianto out as President of Indonesia by...?", which has opened the door to speculation, some of which point to May 31, June 30 or December 31 of this year. Prediction platforms such as Polymarket allow users to profit from predictions on events such as sports and elections, in what is a multibillion-dollar industry. Some opponents, including some US states, have argued prediction markets are illegal and unlicensed under their local laws. At the end of April, the Brazilian government announced the blocking of prediction market platforms with bets on politics, culture and climate, such as Polymarket, which it considered "illegal" for not complying with current legislation.
Claude Code Plugins Get Official Directory: Anthropic Flags Unverified MCP Risks
The 20,000-star repository ships two-tier plugin verification and a one-command install path. Anthropic has formalized its Claude Code plugin ecosystem with an official, company-managed directory on GitHub -- giving the tool's fast-growing developer community a single vetted source for extensions, while issuing an explicit warning that even listed plugins may load unverified third-party software. The repository, anthropics/claude-plugins-official, launched May 22 and has accumulated over 20,000 stars as developers seek a reliable alternative to the scattered community marketplaces that preceded it. The directory organizes two classes of plugins. An internal /plugins folder contains extensions built and maintained by Anthropic's own team, covering 12-language language server protocol support, pull-request review tooling, git workflow automation, output formatting, and code quality checks. A separate /external_plugins folder holds third-party contributions from partners including GitHub, GitLab, Linear, Asana, Firebase, Playwright, Terraform, and Discord. Third-party submissions must pass quality and security screening before inclusion and can be submitted via a form at clau.de/plugin-directory-submission. Before this week's launch, Claude Code's extension landscape was fragmented. Useful plugins existed, but locating and evaluating them required digging through independent GitHub repositories, community forums, and informal word-of-mouth recommendations. The new official directory changes that by giving developers a single, authoritative starting point. The structural shift mirrors what happened to other developer platforms when centralized marketplaces arrived. When the Visual Studio Code marketplace consolidated extensions in one place, adoption of the editor accelerated substantially. The official claude-plugins-official repository now functions as that consolidation point for Claude Code -- a curated index rather than an unfiltered firehose. Installation is a single terminal command: /plugin install {plugin-name}@claude-plugins-official. Developers who already have Claude Code running will find the official marketplace pre-registered by default -- no additional setup is required before browsing. The full plugin catalog is also viewable at claude.com/plugins. Anthropic applies two levels of scrutiny to plugins in the directory. All submissions go through basic automated screening before inclusion. Plugins that pass a stricter, additional review earn an "Anthropic Verified" badge, which signals higher confidence in both quality and safety. Plugins without that badge have cleared automated checks only. This distinction matters, and Anthropic says so directly. The official plugin page states: community plugins "may install unverified, third party software that could be malicious or result in unintended behavior." Users are advised to review each plugin's linked source code before installing. That caveat has real-world precedent. Research published in January 2026 by SentinelOne documented a class of attack in which a malicious Claude Code marketplace plugin redirects a developer's dependency installation to an attacker-controlled source, embedding trojanized code that persists silently across sessions. In the same period, security firm PromptArmor demonstrated how an injected plugin could steer Claude Code into performing unauthorized actions without triggering standard security tooling. Earlier still, in December 2025, Cato Networks researcher Inga Cherny showed that a modified Claude Code skill plugin could download and execute ransomware -- specifically the MedusaLocker variant -- by inserting a single seemingly benign function into an otherwise legitimate extension. A February 2026 security audit by Snyk of the broader Claude Code agent-skills ecosystem found that 13 percent of agent-skills packages contained critical security flaws. These findings do not implicate the official directory specifically -- none of the documented attacks involved claude-plugins-official listings. They do establish that plugin installation is a supply-chain decision, not a convenience one, and that the official directory's curation reduces but does not eliminate risk. A Claude Code plugin is a packaging format, not a single type of extension. Each plugin can bundle any combination of four components: slash commands (custom shortcuts for recurring operations), agents (purpose-built subagents for specialized tasks), Model Context Protocol (MCP) servers (connections to external tools and data sources), and hooks (automated behaviors that fire at specific points in the coding workflow, such as after a file edit or before a commit). The plugin system was first introduced as a public beta in October 2025 via an Anthropic announcement. The official directory now centralizes the best-vetted examples of that system in action. Developers who want to understand the plugin format in detail can consult the official plugin documentation. Because plugins execute with the installing user's system permissions, they can read and write files, access environment variables, and connect to external network services. This is what makes them powerful -- and what makes permission review essential before installation. Anthropic's official security documentation recommends reviewing what permissions a plugin requests before installation and verifying that those permissions are proportionate to the plugin's stated function. A plugin that formats commit messages has no legitimate reason to request broad filesystem access or network connectivity. A plugin that connects to a cloud infrastructure provider will, by definition, need both -- and the source code should make clear exactly where those connections go. For plugins listed in the official directory, each entry links directly to its source repository, making code review straightforward. For community-sourced plugins from outside the official directory, the due-diligence bar is higher, because automated screening is not guaranteed. The "Anthropic Verified" badge is the most reliable signal currently available within the directory. It does not guarantee that a plugin is free of all risk -- Anthropic's own language stops short of that claim -- but it does indicate the plugin has passed a human review stage that automated scanning alone does not cover. How do I install Claude Code plugins from the official directory? Open Claude Code and run /plugin install {plugin-name}@claude-plugins-official in the terminal, replacing {plugin-name} with the name of the plugin you want. The official marketplace is pre-registered in all current Claude Code installations, so no additional setup is required before browsing. You can also view all available plugins at claude.com/plugins. Are Claude Code plugins in the official directory safe to install? Anthropic applies automated security screening to all directory submissions and awards an "Anthropic Verified" badge to plugins that pass additional human review. However, Anthropic explicitly states it cannot verify all software that a plugin may install or connect to, particularly third-party MCP servers bundled by external plugins. Users should review each plugin's source code, check what permissions it requests, and install only from developers they trust. What is the Anthropic plugin directory and how is it different from community marketplaces? The anthropics/claude-plugins-official GitHub repository is Anthropic's curated, company-maintained index of Claude Code plugins. Every listing has passed at minimum an automated security review before inclusion, and Anthropic-built internal plugins appear alongside vetted third-party submissions. Community marketplaces exist outside this directory and may or may not apply consistent review standards. How does a Claude Code plugin differ from a Claude Code skill? A plugin is a distribution and packaging format; a skill is a specific type of content a plugin can contain. Installing a plugin gives you everything bundled inside it -- which may include skills (instruction sets Claude applies automatically to relevant tasks), slash commands, agents, MCP server configurations, and hooks. Skills are the reusable instruction sets; plugins are how those sets get installed and managed.
XAI Building Money Printing AI Data Centers Faster and Cheaper While Others Are Canceled or Delayed
XAI Building Money Printing AI Data Centers Faster and Cheaper While Others Are Canceled or Delayed An active AI Gigawatt of data center in the hand is worth $20 billion per year while an under construction Gigawatt data center is bleeding $5-15 billion per year of cash. XAI is building them for about $30-40 billion per gigawatt while competitors need $50 billion and add on another $10 billion or more in extra financing costs for a multi-year project. Data center project cancellations more than quadrupled to 25 in 2025 from six in 2024. Between a third and a half of all US data centers planned for 2026 are likely to be delayed or totally cancelled, Bloomberg reports, amid ongoing supply chain challenges and campus location concerns. The original plan might have been four years but now it could be longer or never. There was an estimated 12-16GW of planned capacity in 2026. Only 5GW is currently under construction and many projects remain having been announced, but with no physical progress yet. Of the 5 GW, XAI is 1-2 GW of the under actual construction or completed. OpenAI's $500 billion Stargate Project has been stalled, downsized or delayed from the original 4 year timeline. Amazon AI revenue run rate last quarter was $15 billion per year. XAI matched the $15 billion per year with the Anthropic deal. IF XAI were to rent out the rest of Colossus 2 that would be another $15-20 billion per year. Cloud computing margins have been great and have been the envy of other businesses. Traditional cloud margins (AWS - Amazon Web Services) are stable and high at ~35% operating margins, Bitcoin mining margins are volatile/compressed (often breakeven or negative in 2025-2026), and AI cloud margins (CoreWeave, SpaceXAI, Amazon AI) offer the highest unit economics with ~75%+ gross and ~60% EBITDA margins despite heavy growth capex. Competitors are still waiting for permits, poring concrete and waiting on transformers. XAI Capex pays itself off in 12 months instead of 3-5 years. AI multi-year demand stays insatiable. XAI capture it first. It's the ultimate build faster, rent sooner, kick ass. xAI recycles tens of billions into the next project 1 to 3 years earlier. XAI is compounding returns while others are still in risky construction. Risk reduction is from shorter exposure to technology obsolescence, energy price volatility, regulatory delays, or demand shifts. A 4-year build window carries far more execution and market risk.
Gain Exposure to Innovative AI Chipmaker Cerebras With Less Risk Through These ETFs | The Motley Fool
In one of the most highly anticipated initial public offerings (IPOs) of 2026, Cerebras (CBRS 8.90%) made its debut on the public market on May 14 to considerable fanfare. Shares of the artificial intelligence (AI) chipmaker soared on their first day of trading. The company priced its stock at $185 for the IPO, and shares closed that session at $311.07. While this maker of massive wafer-scale chips has attracted incredible investor interest, many are wary of the share price volatility that's likely to occur in the weeks and months ahead. Fortunately, exchange-traded funds (ETFs) that hold Cerebras stock provide lower-risk ways to gain exposure to it. Investors can choose from two Ark Invest funds for exposure to AI specialist Cerebras. Targeting disruptive companies, the Ark Innovation ETF (ARKK 0.29%) is a closed-end interval fund with $6.5 billion in net assets and a 0.75% expense ratio. Cerebras accounts for just a small slice of the fund, with a 0.9% weighting as of Friday. The fund, however, is actively managed, and it would be no surprise if Wood adds to its Cerebras position in the near future. Interval funds can be lucrative because managers periodically offer to repurchase their shares from investors, though shareholders are not obligated to participate. For those seeking slightly greater Cerebras exposure coupled with exposure to other companies that are facilitating the migration of digital infrastructure to the cloud, the Ark Next Generation Internet ETF (ARKW 0.07%) is a great choice. Its Cerebras stake accounted for 1.1% of the fund's assets as of Friday. It's just one of many AI stocks held in the ETF, including Advanced Micro Devices and Nvidia, which have weightings of 8.9% and 1.1%, respectively. The Ark Next Generation Internet ETF has about $1.7 billion in net assets and a 0.76% expense ratio. Cerebras has only been publicly traded for a few days, so those investors who would like some exposure to it, but who don't want to pick up one of those Ark Invest ETFs, will not be frustrated for long. Cerebras stock will undoubtedly soon appear in the portfolios of numerous other funds that are focused on the AI and semiconductor markets, such as the VanEck Semiconductor ETF. And when it does, investors will be able to perform their due diligence to see if these ETFs are right for them.
SpaceX related party maze puts Valor and Musk in creditors' spotlight
Fortune's investigation into SpaceX and Antonio Gracias's Valor Equity Partners reveals more than $20 billion in related party GPU leasing deals reclassified as debt, a governance tangle that could reverberate through Musk linked AI and potentially crypto risk capital. According to Fortune, Valor entities controlled by Antonio Gracias collectively own more than 500 million Class A shares of SpaceX, about 7.3 percent of the company, making him the second largest individual shareholder after Elon Musk. At the $1.75 trillion valuation SpaceX is targeting in its IPO, that stake would be worth roughly $90 billion, and if the company lists closer to $2 trillion, the value jumps past $140 billion, instantly placing Gracias in the global wealth elite. The same reporting details that, beginning last October, an xAI subsidiary inside SpaceX called CTC signed an equipment lease agreement with Valor for high end AI infrastructure hardware, specifically Nvidia GPUs used to power xAI data centers. Two more GPU leases followed in January and April, and together the three Valor agreements obligate the xAI unit to pay close to $20 billion over their terms, with SpaceX itself guaranteeing the payments if the subsidiary cannot cover them. Fortune notes that Valor entities have already collected about $885 million from the leases in 2025 and another $857 million in the first two months of 2026, turning the structure into a substantial income stream for Musk's long time ally ahead of the IPO. Auditors at PwC concluded that the transactions "were loans in substance, not leases," forcing SpaceX to record around $9 billion of the arrangement as related party debt owed to Valor on its balance sheet. That reclassification lands on top of an already heavy debt load, after earlier reporting showed SpaceX's total debt climbing to roughly $23 billion in 2025, much of it tied to lease style financing for xAI's GPU buildout. This means IPO investors are not just betting on rockets and satellites but on a deeply intertwined capital stack where Musk's AI venture, Valor's compute funds, and SpaceX's own guarantees all sit on top of the same risk pyramid. The GPU leasing deals with Valor do not exist in a vacuum; they sit alongside xAI's pursuit of up to $20 billion in additional chip financing, structured through vehicles where Valor, Apollo, Nvidia and other creditors fund Nvidia hardware that is then leased back to xAI. In one such structure described by Bloomberg and summarized by CryptoRank, roughly $7.5 billion of equity and up to $12.5 billion of debt would be used to buy GPUs, with xAI leasing them for five years and Nvidia itself contributing as much as $2 billion of equity. Apollo meanwhile has announced a $3.5 billion capital solution for Valor Compute Infrastructure to support a $5.4 billion acquisition and lease of data center hardware, including Nvidia GB200 GPUs, to an xAI subsidiary, underscoring how much Wall Street credit is now tied to Musk's AI stack. As ChainCatcher's summary of the Fortune report points out, this lattice of leasebacks and guarantees raises classic governance questions, because one of SpaceX's directors stands on both sides of the trade and collects debt service from a company he helps oversee. If regulators, ratings agencies, or public market investors decide that these arrangements are too close to self dealing or that the leverage profile is under disclosed, the immediate impact would be a higher cost of capital or tighter covenants for Musk linked AI and infra vehicles. That in turn filters into the broader risk complex where Musk names occupy outsize mindshare, from xAI tokens and AI infrastructure plays on public markets to private rounds for data center projects that often overlap with crypto, edge computing and decentralized infrastructure pitches. Any serious hit to the perceived integrity or solvency of the SpaceX xAI Valor triangle would likely compress valuations and risk appetite across adjacent narratives, reducing the marginal dollar available for speculative bets, including Musk inspired AI and crypto crossovers. /Given how quickly capital rotates between AI, meme driven crypto and high beta tech, a governance scandal around these leases might not be a chain level shock, but it would be a liquidity and trust event for one of the main narrative engines driving flows into the riskiest parts of the market.
Indonesia blocks Polymarket after president's exit bets
Indonesia has blocked predictions market Polymarket as part of its crackdown on online gambling, its communications and digital ministry said, days after the site took bets on a premature end of Prabowo Subianto's presidency. Gambling is illegal in Indonesia and authorities have been clamping down on online wagering Ministry of Communication and Digital Affairs official Alexander Sabar said Polymarket was classified by Indonesia as an online gambling platform and its activities "contain betting and speculation over events that are inconclusive," therefore violating Indonesian law. Polymarket attracted attention on social media in Indonesia last week after a bet opened on when Prabowo would be "out as president". His term expires in 2029. WA's biggest courts and crime stories to your inbox Sign-up to our weekly newsletter for free Sign up The wager was launched on May 21, the day after Prabowo announced a major plan to centralise control of Indonesia's most prized commodity exports, such as coal and palm oil. Prabowo's administration has been under scrutiny from investors this year over its economic policy. Indonesia's government was combing over all social media accounts affiliated with Polymarket, ministry official Sabar said. The official said the decision was aimed at protecting the public, whom it urged "not to access or engage in speculative activities based on digital betting". "Activities like Polymarket's involve financial betting and speculation on events with uncertain outcomes, thus violating applicable Indonesian law," the statement added. The website maintains the bet titled "Prabowo Subianto out as President of Indonesia by...?", which has opened the door to speculation, some of which point to May 31, June 30 or December 31 of this year. Prediction platforms such as Polymarket allow users to profit from predictions on events such as sports and elections, in what is a multibillion-dollar industry. Some opponents, including some US states, have argued prediction markets are illegal and unlicensed under their local laws. At the end of April, the Brazilian government announced the blocking of prediction market platforms with bets on politics, culture and climate, such as Polymarket, which it considered "illegal" for not complying with current legislation. with EFE Get the latest news from thewest.com.au in your inbox. Sign up for our emails
Indonesia blocks Polymarket after president's exit bets
Indonesia has blocked predictions market Polymarket as part of its crackdown on online gambling, its communications and digital ministry said, days after the site took bets on a premature end of Prabowo Subianto's presidency. Gambling is illegal in Indonesia and authorities have been clamping down on online wagering Ministry of Communication and Digital Affairs official Alexander Sabar said Polymarket was classified by Indonesia as an online gambling platform and its activities "contain betting and speculation over events that are inconclusive," therefore violating Indonesian law. Polymarket attracted attention on social media in Indonesia last week after a bet opened on when Prabowo would be "out as president". His term expires in 2029. The wager was launched on May 21, the day after Prabowo announced a major plan to centralise control of Indonesia's most prized commodity exports, such as coal and palm oil. Prabowo's administration has been under scrutiny from investors this year over its economic policy. Indonesia's government was combing over all social media accounts affiliated with Polymarket, ministry official Sabar said. The official said the decision was aimed at protecting the public, whom it urged "not to access or engage in speculative activities based on digital betting". "Activities like Polymarket's involve financial betting and speculation on events with uncertain outcomes, thus violating applicable Indonesian law," the statement added. The website maintains the bet titled "Prabowo Subianto out as President of Indonesia by...?", which has opened the door to speculation, some of which point to May 31, June 30 or December 31 of this year. Prediction platforms such as Polymarket allow users to profit from predictions on events such as sports and elections, in what is a multibillion-dollar industry. Some opponents, including some US states, have argued prediction markets are illegal and unlicensed under their local laws. At the end of April, the Brazilian government announced the blocking of prediction market platforms with bets on politics, culture and climate, such as Polymarket, which it considered "illegal" for not complying with current legislation.
Anthropic Co-Founder Urges Outside Scrutiny of AI Development at Vatican Event - EuropeTimes
Anthropic co-founder Chris Olah stated on Monday that the development of artificial intelligence cannot be left entirely to technology companies, calling for increased oversight from religious leaders, civil society, and governments. Speaking at the Vatican alongside Pope Leo XIV during the presentation of the pope's first encyclical on AI, Olah warned of "a real possibility" that AI could displace human labor on a massive scale. He emphasized that if widespread job displacement occurs, supporting those affected will become a moral imperative of historic proportions. Olah acknowledged that frontier AI laboratories operate under intense commercial, geopolitical, and personal pressures that can conflict with the broader interests of society. He noted that even well-intentioned researchers are influenced by these constraints, making independent outside scrutiny absolutely essential to steer the technology safely. As the creator of the Claude AI tools, US-based Anthropic has previously clashed with President Donald Trump's administration by insisting on guardrails that restrict its models from being utilized for autonomous weapons targeting or domestic surveillance. Welcoming the Catholic Church's engagement, Olah highlighted three critical areas requiring urgent global attention: the risk of widespread job losses, the challenge of interpreting complex and opaque AI system behaviors, and the need to ensure AI benefits are shared globally rather than remaining concentrated in a handful of wealthy nations. He asserted that the ethical questions raised by AI extend far beyond the engineering community, calling for earnest critics to help guide the creation of these powerful systems. The event marked a unique convergence between the tech sector and the Church, which is actively positioning itself as a moral authority on AI advancement.
Anthropic Says Its AI Mythos Model Has Already Found Over 10,000 Vulnerabilities
AI company Anthropic says its unreleased cybersecurity-focused model, Claude Mythos Preview, has already helped uncover more than 10,000 software vulnerabilities just one month after launching its Project Glasswing initiative. The company shared the early results in an initial report on Project Glasswing, a program introduced in April that uses AI systems to identify and prevent cyberattacks before they can be exploited. Anthropic says partner organizations using Mythos Preview have each discovered hundreds of critical and high-severity flaws in their software, with overall bug-finding rates increasing by more than ten times, according to Anthropic's research report. Among the companies participating in the initiative, Cloudflare reportedly identified around 2,000 vulnerabilities, including roughly 400 classified as critical or high severity. Mozilla also said it found and fixed 271 vulnerabilities in Firefox using Mythos Preview, a dramatic increase compared to earlier Claude-powered testing systems. Anthropic says it also scanned 1,000 open-source software projects over recent months, identifying more than 6,200 high- and critical-severity vulnerabilities out of over 23,000 total findings. The results highlight how rapidly AI-assisted cybersecurity tools are evolving from experimental research projects into large-scale vulnerability discovery platforms. The company has not publicly released Mythos Preview, citing concerns that models with advanced offensive cybersecurity capabilities could be abused if adequate safeguards are not in place. Anthropic says it intends to eventually release "Mythos-class" systems once stronger protections and monitoring frameworks are developed. The report also signals growing alignment between major AI companies and government cybersecurity initiatives. Anthropic says it plans to expand Project Glasswing in collaboration with governments and enterprise partners, including Amazon Web Services, Apple, Google, NVIDIA, and JPMorganChase. The findings arrive as software vendors face mounting pressure to secure increasingly complex systems against AI-assisted attacks. Major patch releases across the industry are becoming larger and more frequent as automated vulnerability discovery accelerates. Anthropic linked Microsoft's recent comments about growing patch sizes to bugs identified through Mythos Preview. The cybersecurity push also comes during a strong financial period for Anthropic. Reports suggest the company could become profitable for the first time since its founding in 2021, though executives reportedly expect future profits to fluctuate as spending on compute infrastructure and AI development continues to rise.
Gain Exposure to Innovative AI Chipmaker Cerebras With Less Risk Through These ETFs
Shares of the AI chipmaker will likely pop up in many other AI-focused and semiconductor-centric ETFs before long. In one of the most highly anticipated initial public offerings (IPOs) of 2026, Cerebras (NASDAQ: CBRS) made its debut on the public market on May 14 to considerable fanfare. Shares of the artificial intelligence (AI) chipmaker soared on their first day of trading. The company priced its stock at $185 for the IPO, and shares closed that session at $311.07. While this maker of massive wafer-scale chips has attracted incredible investor interest, many are wary of the share price volatility that's likely to occur in the weeks and months ahead. Fortunately, exchange-traded funds (ETFs) that hold Cerebras stock provide lower-risk ways to gain exposure to it. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue " Image source: Getty Images. Investors can choose from two Ark Invest funds for exposure to AI specialist Cerebras. Targeting disruptive companies, the Ark Innovation ETF (NYSEMKT: ARKK) is a closed-end interval fund with $6.5 billion in net assets and a 0.75% expense ratio. Cerebras accounts for just a small slice of the fund, with a 0.9% weighting as of Friday. The fund, however, is actively managed, and it would be no surprise if Wood adds to its Cerebras position in the near future. Interval funds can be lucrative because managers periodically offer to repurchase their shares from investors, though shareholders are not obligated to participate. For those seeking slightly greater Cerebras exposure coupled with exposure to other companies that are facilitating the migration of digital infrastructure to the cloud, the Ark Next Generation Internet ETF (NYSEMKT: ARKW) is a great choice. Its Cerebras stake accounted for 1.1% of the fund's assets as of Friday. It's just one of many AI stocks held in the ETF, including Advanced Micro Devices and Nvidia, which have weightings of 8.9% and 1.1%, respectively. The Ark Next Generation Internet ETF has about $1.7 billion in net assets and a 0.76% expense ratio. Cerebras has only been publicly traded for a few days, so those investors who would like some exposure to it, but who don't want to pick up one of those Ark Invest ETFs, will not be frustrated for long. Cerebras stock will undoubtedly soon appear in the portfolios of numerous other funds that are focused on the AI and semiconductor markets, such as the VanEck Semiconductor ETF. And when it does, investors will be able to perform their due diligence to see if these ETFs are right for them. Before you buy stock in Cerebras Systems, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now... and Cerebras Systems wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $477,813!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,320,088!* Now, it's worth noting Stock Advisor's total average return is 986% -- a market-crushing outperformance compared to 208% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors. Scott Levine has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices and Nvidia. The Motley Fool has a disclosure policy.
Indonesia Blocks Polymarket as Online Gambling Crackdown Widens - FinanceFeeds
Indonesia has blocked access to Polymarket after authorities classified the crypto-native prediction market platform as online gambling under national law. The Ministry of Communication and Digital said the platform's activities involve "betting and speculation on uncertain outcomes," placing it in violation of Indonesian law. Gambling is illegal in the country, giving regulators a direct legal basis to restrict access rather than treat the platform only as a financial or crypto product. The ministry is also tracing social media accounts affiliated with Polymarket to support wider access restrictions. Officials said they plan to block similar services suspected of facilitating prediction market activity, framing the action as part of a broader effort to protect the public, especially younger digital users, from financial losses and regulatory breaches. The trigger appears to have been partly political. Polymarket gained attention in Indonesia after users opened contracts tied to when President Prabowo Subianto would be "out as president," even though his current term runs through 2029. The market opened on May 21, one day after Prabowo announced plans to centralize control of key commodity exports, including coal and palm oil. Indonesia's action shows how quickly prediction markets can fall outside crypto and derivatives regulation when national gambling laws are strict. Platforms such as Polymarket allow users to wager on political, economic, legal, sporting, and geopolitical outcomes. That makes them difficult to classify neatly as either information markets, trading venues, or betting services. For regulators, the core issue is not the blockchain infrastructure behind the platform. It is the activity itself. When users place money on uncertain future events, authorities may treat the product as gambling if the platform lacks a local betting license, financial market authorization, or approved derivatives structure. That legal framing matters because it changes the regulatory response. A derivatives violation may lead to licensing demands, disclosure requirements, market surveillance rules, or enforcement actions against the operator. A gambling classification can lead directly to website blocks, app-store restrictions, payment bans, and social media takedowns. Indonesia's move also shows the political sensitivity of prediction markets. Contracts tied to a sitting president's tenure can be seen by regulators as more than speculative trading. They can raise concerns around political stability, misinformation, public order, and retail betting behavior. Indonesia is now part of a wider group of jurisdictions restricting Polymarket and other event-contract platforms. The common concern is whether prediction markets are operating as unlicensed gambling venues, unapproved derivatives platforms, or both. Brazil moved against Polymarket and Kalshi in April after regulators said the platforms failed to comply with local derivatives trading rules and raised concerns over investor protection and market integrity. Finance Minister Dario Durigan said roughly 28 betting platforms were banned as part of a wider campaign against online gambling activity. Argentina also ordered nationwide restrictions on Polymarket in March after a Buenos Aires court directed internet service providers, Google, and Apple to block access to the platform. Authorities alleged the site operated as an unlicensed betting system without sufficient identity and age verification controls. In the United States, prediction markets remain under legal scrutiny despite a more permissive federal environment for event contracts. On May 22, a Ninth Circuit panel rejected bids by Kalshi and Polymarket to halt gambling-related enforcement actions in Nevada and Washington, where state authorities argue sports-event contracts amount to unlicensed gambling products. The Indonesian block increases the pressure on prediction market operators to localize compliance rather than rely on a single global access model. Platforms expanding across markets now face different tests in each jurisdiction: gambling law, derivatives law, consumer protection, age verification, identity checks, political betting restrictions, and online content controls. For Polymarket, the immediate issue is access. National blocks can limit user growth, reduce liquidity, and make it harder to support politically sensitive markets in countries with strict gambling regimes. Even where users find technical workarounds, payment access and local visibility can weaken. For rival platforms, the lesson is broader. Prediction markets are becoming more visible to regulators because their contracts increasingly touch elections, government decisions, sports events, and major macroeconomic outcomes. That visibility can support growth, but it also makes platforms easier targets for agencies looking to police online gambling and unauthorized financial activity. The international pattern is clear. Regulators are not waiting for prediction markets to mature before acting. They are using existing gambling, derivatives, and consumer protection laws to block or restrict platforms now. That creates a difficult operating backdrop for companies trying to build liquid global markets around real-world events. The result is a market with strong user interest but uneven legal footing. Prediction platforms may continue to expand, but Indonesia's block shows that political event contracts and gambling classifications can quickly turn market growth into a regulatory flashpoint.
Indonesia blocks Polymarket after president's exit bets
Indonesia has blocked predictions market Polymarket as part of its crackdown on online gambling, its communications and digital ministry said, days after the site took bets on a premature end of Prabowo Subianto's presidency. Gambling is illegal in Indonesia and authorities have been clamping down on online wagering Ministry of Communication and Digital Affairs official Alexander Sabar said Polymarket was classified by Indonesia as an online gambling platform and its activities "contain betting and speculation over events that are inconclusive," therefore violating Indonesian law. Polymarket attracted attention on social media in Indonesia last week after a bet opened on when Prabowo would be "out as president". His term expires in 2029. The wager was launched on May 21, the day after Prabowo announced a major plan to centralise control of Indonesia's most prized commodity exports, such as coal and palm oil. Prabowo's administration has been under scrutiny from investors this year over its economic policy. Indonesia's government was combing over all social media accounts affiliated with Polymarket, ministry official Sabar said. The official said the decision was aimed at protecting the public, whom it urged "not to access or engage in speculative activities based on digital betting". "Activities like Polymarket's involve financial betting and speculation on events with uncertain outcomes, thus violating applicable Indonesian law," the statement added. The website maintains the bet titled "Prabowo Subianto out as President of Indonesia by...?", which has opened the door to speculation, some of which point to May 31, June 30 or December 31 of this year. Prediction platforms such as Polymarket allow users to profit from predictions on events such as sports and elections, in what is a multibillion-dollar industry. Some opponents, including some US states, have argued prediction markets are illegal and unlicensed under their local laws. At the end of April, the Brazilian government announced the blocking of prediction market platforms with bets on politics, culture and climate, such as Polymarket, which it considered "illegal" for not complying with current legislation.
SpaceX investors beware: Musk's Mars plan may be pie in the sky - AOL
Elon Musk's space empire is going public in the biggest share offering of all time. A company valuation of $1.75tn (£1.3tn) will hand $75bn to Space Exploration Technologies Corporation, as SpaceX likes to be known. The magnificent rockets are Musk's greatest achievement, and last week it announced its biggest yet, Starship 3, along with a glossy share prospectus. Sending things into orbit used to be a premium, boutique operation. SpaceX has turned it into a bus service by proving you don't have to throw away the entire rocket each time it is launched. By 2024, SpaceX was launching more rockets than everyone else in the world combined, and dominated the market even more by volume of material launched. It has also allowed Musk to create a global telecoms company, Starlink, which is the one part that consistently generates cash. The glossy prospectus reminds us, however, SpaceX is not a cash cow. Not only did it lose nearly $5bn last year, but is now under pressure from mounting competition. The US government is seemingly growing wary of its dependency on one very volatile tycoon.The mammoth Starship rocket was designed for missions like the Artemis programme. However, Nasa also chose a consortium to work alongside it, made up of Boeing and Lockheed Martin, and Airbus. "SpaceX is the only company that has cracked the code on accessing space at scale," the prospectus boasts, but that is no longer true. The New Glenn rocket from Jeff Bezos's Blue Origin is also designed to be reusable, and can carry a greater payload than SpaceX's trusty workhorse, Falcon Heavy. The newer Starship can carry twice as much as New Glenn, but it's still a work in progress. It then needs to be refuelled once in orbit. The United States is building up rivals where it can, with Blue Origin also being given the contract for a lunar lander alongside SpaceX. And today, there are engineer entrepreneurs doing to Musk what Musk once did to the complacent incumbents like Boeing. The most exciting of these is Peter Beck's Rocket Lab, with over 80 missions completed, and eight so far this year. Japan's JAXA space agency and defence ministry are using them. "The space race has only just started," says one industry veteran. "I'm confident that by 2030, the competitors will be just as good." Starship has had some high profile failures but the Starlink department needs it to work, as the IPO prospectus tells us: "Our current operational rockets, including Falcon 9 and Falcon Heavy, are not capable of deploying [Starlink] V3 satellites and V2 Mobile satellites." Then there's money. It is worth recalling that Musk was reluctant to float SpaceX because it imperilled his goal of reaching Mars. "I am hesitant to foist being public on SpaceX, especially given the long term nature of our mission," he emailed his employees in 2013. How things change. Now he just needs the cash, and fast. Even with its technological lead and healthy 70pc margins, the launch business is not a terribly lucrative market. It's the Starlink division that generates real cash flow with over 9,600 satellites and more than 10 million global customers. The satellites don't last long, however, because of the friction of a low Earth orbit, and the fleet needs to be constantly replenished. Musk has encumbered SpaceX with his xAI venture, which develops the Grok AI, which almost nobody wants to use, and Twitter, now X. AI is incinerating cash at an astonishing rate. This means SpaceX is likely to burn through the capital raised from the IPO very rapidly. Elsewhere, the SpaceX prospectus waxes lyrical about the potential of data centres in space. Musk argues that energy is free once in space as solar panels can keep power-hungry chips running. Overall, SpaceX claims enterprise computing is an addressable market worth $22.7tn, roughly the size of the entire digital economy today. Yet this isn't credible. And YouTube science channels are full of elementary physics lessons about the difficulty of cooling a hot object. One of then demonstrates how difficult it is to disperse heat through a vacuum by explaining that it would take a human body a day to freeze in space, despite the "outside" temperature out of sunlight being -270C. Millions of square meters of panels are therefore needed for an typically-sized data centre. With computing becoming a commodity, it's an absurd proposition. However, there certainly are wonderful commercial opportunities in space. For example, our own SpaceForge puts tiny factories into orbit to produce materials of such quality they can't be grown economically on Earth. But space tourism and asteroid mining - both mentioned in the IPO brochure - are either very small markets, or very far away. SpaceX rhapsodises about its mission "to make life multiplanetary, to understand the true nature of the universe, and to extend the light of consciousness to the stars". But the reality may be far from it. Investors beware.
Indonesia blocks Polymarket after president's exit bets - Michael West
Indonesia has blocked predictions market Polymarket as part of its crackdown on online gambling, its communications and digital ministry said, days after the site took bets on a premature end of Prabowo Subianto's presidency. Gambling is illegal in Indonesia and authorities have been clamping down on online wagering Ministry of Communication and Digital Affairs official Alexander Sabar said Polymarket was classified by Indonesia as an online gambling platform and its activities "contain betting and speculation over events that are inconclusive," therefore violating Indonesian law. Polymarket attracted attention on social media in Indonesia last week after a bet opened on when Prabowo would be "out as president". His term expires in 2029. The wager was launched on May 21, the day after Prabowo announced a major plan to centralise control of Indonesia's most prized commodity exports, such as coal and palm oil. Prabowo's administration has been under scrutiny from investors this year over its economic policy. Indonesia's government was combing over all social media accounts affiliated with Polymarket, ministry official Sabar said. The official said the decision was aimed at protecting the public, whom it urged "not to access or engage in speculative activities based on digital betting". "Activities like Polymarket's involve financial betting and speculation on events with uncertain outcomes, thus violating applicable Indonesian law," the statement added. The website maintains the bet titled "Prabowo Subianto out as President of Indonesia by...?", which has opened the door to speculation, some of which point to May 31, June 30 or December 31 of this year. Prediction platforms such as Polymarket allow users to profit from predictions on events such as sports and elections, in what is a multibillion-dollar industry. Some opponents, including some US states, have argued prediction markets are illegal and unlicensed under their local laws. At the end of April, the Brazilian government announced the blocking of prediction market platforms with bets on politics, culture and climate, such as Polymarket, which it considered "illegal" for not complying with current legislation.
