SpaceX · Donald Trump · Tokenization · White House · Cointelegraph
Crypto Biz: SpaceX fuels tokenization’s next boom
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Tokenized RWAs surge despite crypto volatility, Kraken launches SpaceX IPO xStocks, prediction markets outpace onchain gambling and Sam Bankman-Fried seeks a Trump pardon.
Key facts
- Prediction markets surpassed onchain gambling for the first time in the first quarter of 2026, generating $36.6 billion in volume compared with gambling’s $14 billion, according to blockchain
- While so-called high rollers, who averaged $13,558 per bet and $378,000 in lifetime gambling volume, still account for most betting volume, casual bettors and daily users are driving the fastest
- According to Kraken, investors who received an allocation will be issued SPC, a tokenized representation backed 1:1 by the underlying equity and tradable 24/7 across participating platforms
- Elsewhere, prediction markets surpassed onchain gambling for the first time, and former FTX CEO Sam Bankman-Fried formally asked US President Donald Trump for a pardon
Summary
Crypto prices have spent much of the year reacting to macro headlines and regulatory uncertainty, but tokenization has remained one of the industry’s few consistent growth stories. That momentum was on full display this week as Kraken rolled out tokenized access to the highly anticipated SpaceX IPO, offering eligible users in more than 110 markets a chance to participate through xStocks. Elsewhere, prediction markets surpassed onchain gambling for the first time, and former FTX CEO Sam Bankman-Fried formally asked US President Donald Trump for a pardon. At the same time, traditional financial institutions are expanding their blockchain initiatives, from Apex Group’s tokenized fund services to The Clearing House’s planned tokenized deposit network, highlighting growing adoption beyond crypto-native companies.