Elon Musk and SEC Tell Court They are Headed to Trial in Case Related to Twitter Buyout

Musk, SEC Say Fight Over Twitter Share Stockpile May Go to Trial

Elon Musk and the US Securities Exchange Commission told a judge they are heading toward a trial over the regulator’s allegations that the billionaire cheated Twitter Inc. investors before his 2022 buyout of the social media platform.

The joint status report filed Wednesday in Washington federal court comes just two weeks after lawyers said they were engaged in talks about “potential resolution” of the lawsuit the SEC filed in January 2025. The attorneys said in the new filing that they and their clients discussed alternative dispute resolution options.

“The parties do not believe that this case would benefit at this time from the court’s ADR procedures or any other form of ADR,” according to the filing.

Prediction markets have sparked a golden age of insider trading—but the party may be coming to an end

Meanwhile, the incidents to emerge so far may be only the tip of the iceberg. Given the massive volumes on the platform, it’s a near certainty that other insiders in government and companies have used confidential information to enrich themselves. Polymarket may be especially prone to these shenanigans, because its corporate structure for now leaves it outside of U.S. and state laws: Its off-shore platform lets users not only place bets, but create wagers of their own with little scrutiny or oversight.

The growth of prediction markets, which are also capable of producing valuable real world intelligence, has been spurred by recent court rulings, but also by support from the White House, which generally favors deregulation in all sorts of financial markets. President Donald Trump’s son, Don Jr., is an investor and advisor to Polymarket, and a paid advisor to its primary competitor, Kalshi. Meanwhile, the President himself has made clear financial crimes are not a priority for his administration, dismissing or suspending many cases, and in some instances dismantling offices responsible for prosecuting them.

All of this has led some bettors to view prediction markets as an insider trading free-for-all. This era is likely coming to an end, however, as the recent incidents related to the U.S. military appear to have come as a tipping point—finally rousing everyone from Congress to regulators to the companies themselves to call for oversight.

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The Protocol: Quantum computing could break Bitcoin sooner, says Google

GOOGLE SAYS BREAKING BITCOIN IS EASIER THAN PREVIOUSLY THOUGHT:

Breaking the Bitcoin blockchain with quantum computers may not be as difficult as once thought, and Bitcoin’s Taproot technology, which enables more efficient, private transactions, may be partly to blame, Google’s Quantum AI team said in a blog post and newly published whitepaper. The team said the computing power required to break Bitcoin’s security may be far lower than previously assumed, raising fresh questions about how soon quantum threats could become a reality. In a new whitepaper, researchers found that cracking the cryptography used by Bitcoin and Ethereum could require fewer than 500,000 physical quantum bits, or qubits, well below the “millions” often cited in recent years. Google has previously pointed to 2029 as a potential milestone for useful quantum systems, saying migration needs to come before that, making the paper’s finding that attacks may require less computing power more significant….