The Commodity Futures Trading Commission’s first Innovation Advisory Committee meeting convened on Thursday to discuss the latest in prediction markets regulation, including growing concerns on “mention markets” found on the platforms.

The CFTC’s Chairman Michael Selig, who is the only official on the federal agency’s typically five-member commission board, said the committee’s role would be to provide input on CFTC’s decisions which would strengthen regulations on markets. 

Consisting of over 30 members, the committee includes top brass from Robinhood, Nasdaq and CME. The group first discussed the regulation landscape on crypto and artificial intelligence, but the most impassioned discussions revolved around prediction markets.

Polymarket’s CEO and founder, Shayne Coplan and Kalshi’s co-founder Luana Lopes Lara, were also present at the roughly three-hour-long meeting. 

Key concerns that came up at Thursday’s meeting include self-certification for event contracts, as well as “mention markets” — contracts where traders speculate on certain words being used in a speech or an earnings call — and their susceptibility to manipulation. Committee members also discussed a regulatory roadmap for prediction markets.

Duffy also highlighted recent instances of insider trading on prediction markets. This includes the April arrest of a U.S. soldier following bets on the capture of Venezuelan leader Nicolás Maduro and a teleprompter operator facing federal investigation in connection with bets…

Prediction market platform Polymarket is preparing for what’s expected to be a busy fall season for event contract exchanges by making high-profile hires and restructuring its marketing strategy. 

Polymarket hired Travis VanderZanden, founder of E-Scooter startup Bird in 2017, as its chief growth officer. VanderZanden previously worked at Uber Technologies and Lyft as well.

Polymarket CEO Shayne Coplan “is the visionary of the prediction market space, and this is a massive market opportunity,” VanderZanden said in a statement to CNBC. “It’s an exciting time to come in as we build out the executive team to help guide the next stage and make sure we’re buttoned up for the long haul.”

Bloomberg first reported VanderZanden’s appointment last week.

VanderZanden will also oversee Polymarket’s marketing, a person familiar with the matter said. That’s an area of the company’s business that came under scrutiny following a Wall Street Journal investigation that claimed the company conducted misleading marketing campaigns. 

The Journal said Polymarket ensured it looked as though content creators it used were winning on the platform when, in fact, they were not using any of their own money. That report led to an investigation by the Commodity Futures Trading Commission — the federal regulator for prediction markets.

Polymarket has implemented a new organizational structure for the marketing team set to be led by VanderZanden, updated its guidelines for promotional partners and conducted training sessions with staff to inform them of new policies, the person familiar with the matter said. The company is now working with a third-party consulting firm to monitor content released by promotional partners and confirm that it follows the new guidelines, the person said.

Other prominent managers have been added to strengthen Polymarket in 2026 as well.

Megan McGrath, formerly of Robinhood, is now the chief compliance officer of Polymarket’s U.S. exchange, and Natalie Oblazny, formerly at Coinbase, heads regulatory affairs for the domestic platform. Polymarket’s U.S. exchange debuted in May and operates separately from the international market.

Polymarket also hired Shana Bautista, a former FBI official who worked at Coinbase, as its global head of investigations and intelligence, while Paul Jordan joined from Nasdaq and will serve as the chief risk officer for Polymarket U.S.

All of the new staff come as prediction market platforms prepare for two major drivers of traffic this fall. The start of the NFL season in September and the runup to midterm elections in November are expected to boost trading volumes after domestic and international activity dipped following the end of the…

Countries are racing to expand their spy satellite fleets, as the war in Ukraine forces them to reconsider the intelligence they would rely on in a conflict, the CEO of a space-tech firm told CNBC. 

Russia’s full-scale invasion of Ukraine in 2022 marked a “pivotal moment” for the space industry, ICEYE co-founder and CEO Rafal Modrzewski told CNBC on Tuesday. 

Europe, as well as Japan, India and Brazil, are now looking to substantially expand their satellite fleets, he said.

The market has “suddenly tenfolded in size,” Modrzewski said, adding that countries increasingly view the technology as critical to securing their sovereignty.

Space, he added, is shifting from a capability that merely supports military operations to “a primary asset that will determine who is going to win or lose.”

European nations’ spending on space rose 12% to 13.5 billion euros in 2025, “mainly due to increased national defence spending,” led by Germany, according to a European Space Agency report published last month.

ICEYE makes radar-imaging satellites that governments can use for surveillance, reconnaissance and intelligence gathering, using a technology called synthetic aperture radar, or SAR.

SAR satellites use radar rather than conventional cameras to image the Earth’s surface, allowing them to collect data at night, through clouds, and during poor weather.

The Finnish-Polish firm raised €450 million in new capital in June at a valuation of more than €10 billion. The total Series F transaction exceeded €1 billion, including secondary share sales, the company said.

The round marked the first investment by the EU’s new Scaleup Europe Fund, the roughly 5-billion-euro initiative established to address Europe’s shortage of growth capital to help promising European technology companies scale.

Modrzewski said access to capital has been one of the hurdles preventing European startups from becoming long-term global leaders capable of competing with U.S. and Chinese rivals. 

It comes as Europe’s defense sector is scrambling to build its defense industrial base after years of underinvestment and reliance on U.S. security guarantees that have been called into question under President Donald Trump.

NATO allies last year agreed to spend 5% of GDP on defense and defense-related infrastructure by 2035, as leaders emphasize the growing threat of Russia.

At the same time, wars in Ukraine and Iran have demonstrated the growing role of technologies like drones, artificial intelligence and space-based surveillance in modern warfare. 

Modrzewski said the company is not ruling out an eventual listing on the U.S. Nasdaq, but has not decided when or where it could go public.

He said Europe’s fragmented capital markets could factor into that decision.

“We are clearly a European company working for European sovereignty. We would have loved to be able to list in Europe, but of course there are other considerations,”…

President Donald Trump on Monday morning rang the opening bell of the stock market from the White House Oval Office in a first-of-its-kind joint ceremony with the New York Stock Exchange and the Nasdaq.

The event marking the launch of “Trump Accounts,” the administration’s new tax-advantaged investment vehicles for U.S. kids, was attended by an array of CEOs and other officials who are supporting the new accounts.

They include: Dell chief Michael Dell and his wife, Susan Dell, who together pledged to donate more than $6 billion to the program; Brad Gerstner, Altimeter Capital and CEO and founder of the Invest America charitable foundation, which pushed for the accounts; Intercontinental Exchange CEO Jeffrey Sprecher; Sen. Ted Cruz, R-Texas; Treasury Secretary Scott Bessent; U.S. Securities and Exchange Commission Chair Paul Atkins; and NYSE President Lynn Martin.

“This makes real the promise of the American dream, not for some but for everybody,” Gerstner, a major proponent of the accounts, told CNBC’s “Squawk Box” before the event.

The Trump Accounts, which are available for all children age 18 or younger, include a one-time $1,000 pilot program contribution from the U.S. Treasury Department for babies born from 2025 through 2028.  

Robinhood CEO Vlad Tenev, arriving at the White House before the opening bell, called the accounts potentially “life changing.”

This is developing news. Please check back for updates.

Cerebras said revenue almost doubled in the AI chipmaker’s first earnings report since its initial public offering last month. The stock fell 5% in extended trading.

Here’s how the company did:

• Loss per share: 22 cents
• Revenue: $193.4 million

The company’s revenue increased 92% in the first quarter from $99.5 million a year earlier, according to a statement. Net loss shrank to $14 million from $23.9 million, or 46 cents per share, a year ago.

Capitalizing on investor interest in infrastructure for running AI models, Cerebras went public on the Nasdaq in May. After pricing its IPO at $185, Cerebras saw its stock open at $350 and close at $311.07.

The shares have since dropped 28%, closing on Tuesday at $226.72.

Founded in 2015, the Cerebras raised over $6 billion in the offering, the most for a U.S. technology company since Uber‘s debut in 2019.

For the second quarter, Cerebras said it expects core revenue growth of 88% from a year earlier to $914 million. And the company said full-year core revenue will be between $855.5 million and $865 million, representing 69% growth at the midpoint.

Cerebras is trying to challenge AI chip leader Nvidia in one corner of the market, and it also operates a service for running AI models through data centers filled with its processors.

Cerebras enjoys a performance advantage in part by packing many times more SRAM memory on its chip than Google’s latest tensor processing unit or the Groq 3 LPU chip that Nvidia announced in March, Mizuho said in a June 8 note to clients.

During the first quarter, Cerebras said its chips will go inside Amazon Web Services’ data centers, and it announced a deal worth over $20 billion to supply OpenAI with computing power.

Executives will discuss the results with analysts on a conference call starting at 5 p.m. ET.

WATCH: Options Action: Big moves priced into Micron and Cerebras options

Days after Elon Musk’s SpaceX made its debut on the Nasdaq, much ink has been spilt over the company, the valuation, and its place in the burgeoning tech space.

The company’s stratospheric IPO has made founder Elon Musk the world’s first trillionaire, and if the first day’s price action is anything to go by, investors are still very optimistic. SpaceX closed at $161, jumping 19% from its offer price of $135 per share.

Speaking to CNBC’s “Squawk Box Asia,” Steve Westly, founder and managing partner of The Westly Group and a former board member of Musk’s Tesla, noted that the company attracted a lot of retail investors, but added that it have to deliver results, and fast.

“Retail investors bought $100 billion in shares, and you’ve got to ask the question, are some of them going to get panicky if SpaceX misses a few quarters, because this stuff is not easy to do.”

In a now-deleted post on X, Musk said that SpaceX “might be able” to reach approximately $1 trillion in revenue by 2030, and added that he would be “surprised” if revenue is not greater than that figure by 2031.

“Investors at SpaceX, I believe, will get pretty grumpy after three or four quarters if he doesn’t meet some of the growth projections that they made in the S1,” Westly added, referring to the SEC filing used by companies planning on going public.

Some views that the trillion-dollar IPO were overvalued were swirling ahead of SpaceX’s debut.

Matthew Maley, Chief Market Strategist at asset management firm Miller Tabak. said that “we’ll merely say that we agree [the IPO] went very well, but we also think it is much too overvalued.”

While the stock does not have a formal price-to earnings ratio, Musk’s $1.75 trillion valuation currently reflects a P/E ratio of almost 100 times.

In comparison, Nvidia, arguably the world’s most valuable company, trades with a P/E ratio of just over 31 times, while Apple trades at about 35 times.

This overvalued view is also shared by Morningstar equity analyst Nicolas Owens, who said last week that the stock is “significantly overvalued.”

The firm has a fair value estimate for SpaceX of $63 per share, and said on June 11 that the company had only a 7% chance of hitting its “moonshot” scenario of $154 a share.

Nonetheless, the stock could prove to be a good buy if investors are willing to ride it out.

“We do believe that very long-term investors will do fine,” Maley said, with Westly also expressing optimism on the company’s future path.

“No one’s going to hand this to them. He and the team there, I think Gwynne Shotwell is extraordinary, have some tough hills to climb, but if anybody can do it, it may be the combination of Gwynne and Elon,” Westly said, referring to SpaceX’s president and chief…