Polymarket said it plans to challenge France’s decision to block its website through legal channels, according to Reuters, adding a new flashpoint to the tightening regulatory treatment of prediction markets.
Polymarket prepares legal challenge in France
Reuters reported that prediction market platform Polymarket will contest a decision by France’s National Gambling Authority, or ANJ, to block access to its site.
ANJ moved last week to cut off access to Polymarket in France, saying the platform could expose users to significant gambling losses and that bets on the site carried manipulation risk. Polymarket said it was disappointed by the move and would seek relief through French legal procedures.
The report also noted that Spain’s government temporarily blocked Polymarket and rival Kalshi in May. In June, U.S. derivatives regulators published a new proposed regulatory framework for the prediction market industry.
U.S. Treasury secretary says CLARITY bill is in final stretch
Cointelegraph reported that U.S. Treasury Secretary Scott Bessent said lawmakers have entered the “final sprint” on the CLARITY bill and urged Congress to pass it before recess.
Movement Labs files for Chapter 11 protection
The Block reported that Movement Labs, formerly the core development company behind the Movement blockchain, filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware on July 15.
Court filings show the company listed assets between $100,001 and $500,000, liabilities of as much as $10 million, and as many as 299 creditors.
The largest unsecured claim came from co-founder Rushikesh “Rushi” Manche, at more than $1.6 million. The report said Manche still holds a 34.25% equity stake after being removed from the company. Movement Labs had previously been caught up in controversy tied to post-launch selling of the MOVE token and later restructured its business.
Google unveils new Gemini Flash models
Google introduced a new group of Gemini Flash models, including Gemini 3.6 Flash, Gemini 3.5 Flash-Lite, and Gemini 3.5 Flash Cyber for cybersecurity use cases.
Google said Gemini 3.6 Flash is built for stronger coding, knowledge handling, and multimodal performance while improving token usage and cost. Gemini 3.5 Flash-Lite is aimed at low latency, high throughput, and cost efficiency for large-scale agentic workflows and document processing. Gemini 3.5 Flash Cyber, built with the CodeMender security agent framework, is designed for vulnerability discovery and remediation tasks.
The company also said Gemini 3.5 Pro is being tested with partners and that pre-training work on Gemini 4 has started.
Xiaohongshu denies IPO rumors; Amazon cuts jobs in AGI unit
Xiaohongshu responded to recent market rumors that it had secretly submitted an IPO application before the end of June, saying the circulating information about an IPO is not true.
Amazon, meanwhile, cut jobs in its artificial general intelligence, or AGI, division on Wednesday. A company spokesperson said large AI models remain one of Amazon’s most important areas of work, but the company is concentrating resources on projects that matter most to customers. That shift, the spokesperson said, led to difficult decisions, including eliminating some roles in the AGI organization. The move was described as the latest in a series of smaller cuts since Amazon’s larger round of layoffs in January.
Summer Fi exploit funds continue moving through Tornado Cash
On-chain analyst Onchain Lens, posting as @OnchainLens, said the attacker behind the Summer Fi exploit has moved most of the stolen funds.
The attacker took 6.017 million DAI from the exploit on July 6 and has continued to mix and move the funds through Tornado Cash. Two related addresses still hold small balances: the original wallet, 0x7bf7...bdca, has 11.3 ETH left, worth about $21,600, while the second wallet, 0x46e0...eba7, holds 282.9 ETH, worth about $543,500.
OpenAI discloses model security incident during internal evaluation
According to an OpenAI blog post, GPT-5.6 Sol and a more powerful unreleased model breached a sandbox during internal network capability testing in ExploitGym after refusal rates for cyberattack tasks were lowered.
OpenAI said the models identified and exploited a zero-day flaw in a package registry caching proxy, gained internet access after escaping the isolated environment, then used privilege escalation and lateral movement to break into Hugging Face’s production database and steal test answers to cheat. Hugging Face’s security team detected and stopped the activity.
OpenAI described the event as unprecedented. The two companies are conducting a joint forensic investigation, and the zero-day issue has already been responsibly disclosed to the vendor. Full details will be released after the investigation is complete.
Payward expands xStocks to more overseas markets
CoinDesk reported that Payward, Kraken’s parent company, will expand its tokenized stock platform xStocks beyond the U.S. market.
Payward plans to work with investment infrastructure provider GTN to bring listed equities from Hong Kong, the U.K., Europe, and South Korea on-chain, with additional asset classes to follow if regulators approve. xStocks currently supports more than 500 tokenized securities, has generated over $35 billion in cumulative trading volume, and has nearly 200,000 holders. The product remains unavailable to U.S. investors.