US States Set Crypto Policy Without Congress
Without a federal market-structure law, US states will keep writing their own crypto and prediction-market rules in opposite directions. Some will expand public-fund exposure and others will apply gambling or money-transmission law to operators. The result is a fragmented state-by-state compliance map that raises operating costs and litigation risk for national venues until Congress preempts it.
forming · confidence 35 · Emerging (watchlist) · tracking since November 12, 2026 · updated November 12, 2026
Why the conviction moved
- Nov 12Strengthened
A Texas bill would let cities and counties put up to $10 million each into crypto. In New York, a judge ruled against prediction-market operator Novig by applying the state's gambling law. These are two opposite state-level moves made in the absence of federal market-structure legislation.
Source trail
Supporting · November 12, 2026
Texas Bill Would Let Cities and Counties Put $10 Million Each Into Crypto as a New York Judge Rules Against Novig
A Texas bill would let cities and counties put up to $10 million each into crypto. In New York, a judge ruled against prediction-market operator Novig by applying the state's gambling law. These are two opposite state-level moves made in the absence of federal market-structure legislation.
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