Elon Musk’s artificial intelligence startup xAI is partnering with regulated prediction market Kalshi to bring its chatbot Grok into the world of real-money event forecasting, the companies said Thursday.

The collaboration will allow Grok to analyze news, historical data and economic indicators in real time to support users trading on Kalshi’s federally regulated platform. Kalshi traders can place bets on specific outcomes of events like Federal Reserve interest rate decisions, Senate control, or monthly inflation figures — making Grok’s ability to summarize information quickly a potential edge.

“Kalshi and xAI are partnering to bring Grok to prediction markets. Two of the fastest growing companies in America are now on the same team,” xAI said in a post on X.

The deal brings together Musk’s latest AI venture, known for its irreverent chatbot Grok, and Kalshi, the only U.S.-regulated prediction market that offers tradable event contracts. While details of how Grok will be integrated weren’t disclosed, Bloomberg previously reported (and then retracted) in May that both companies are committing “significant engineering resources” to the project.

The announcement also adds complexity to xAI and Musk’s broader prediction market strategy.

Earlier this year, xAI and X named Polymarket — an unregulated crypto-based competitor to Kalshi — as their official prediction market partner. Now, with Kalshi and Polymarket effectively operating in parallel under Musk’s orbit, the market appears to be a testing ground for Grok’s AI capabilities across different regulatory frameworks.

Grok’s most recent version, Grok 4, was unveiled earlier this month, promising major upgrades in reasoning and information retrieval.

Polkadot’s DOT staged a strong recovery after slumping as much as 7%, bouncing from $3.91 to $4.08 amid high trading volumes, according to CoinDesk Research’s technical analysis model.

The model showed that DOT navigated substantial price swings during the 24-hour period from July 23 19:00 to July 24 18:00, oscillating between $3.91 and $4.20 before settling at $4.08.

Earlier this week, the Securities and Exchange Commission (SEC) withdrew its accelerated approval for a Bitwise crypto exchange-traded fund (ETF) that plans to include DOT among its top holdings by market cap.

The bounce in Polkadot came as the wider crypto market also rose, with the broader market gauge, the Coindesk 20, recently up 1.4%.

In recent trading, DOT was 2% lower over 24 hours, trading around $4.09.

Technical Analysis:

• Overall trading range of $0.28 representing 7% volatility between $4.20 maximum and $3.91 minimum.
• Critical support level established at $3.96 with high volume confirmation exceeding 4.28 million average.
• Resistance zone identified at $4.10 level showing price rejection patterns.
• Volume spike of 73,061 during decline phase indicating institutional selling pressure.
• Recovery pattern suggests potential continuation toward $4.13 target level.
• Net decline of 2% from opening despite strong bounce from overnight lows.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

The creator of the Bored Ape Yacht Club non-fungible tokens (NFTs) needs to better prove that a «satirical» version of these tokens was meant to mislead would-be buyers, a U.S. appeals court said Wednesday, overturning a lower court ruling and sending the case back to that lower court for a new trial.

The U.S. Court of Appeals for the Ninth Circuit ruled that a District Court finding that Ryder Ripps’ NFT collection harmed Yuga Labs’ trademarked NFTs needs to be reconsidered, though without weighing in on whether there was indeed trademark infringement — only that Yuga needed to do a better job of demonstrating that under the law at a new trial, a court document said.

Ryder Ripps and Jeremy Cahen, the duo behind the RR/BAYC NFT collection, had previously argued that their tokens were meant to be a satirical response to the actual BAYC. Yuga Labs sued in 2022, alleging trademark infringement and cybersquatting.

A partial summary judgement by a district judge found that Yuga does own trademarks to its Bored Ape Yacht Club NFT collection and that Ripps’ RR/BAYC NFT collection did cause confusion as the images did look similar. Ripps appealed the final ruling, which included an over $8 million fine to be paid to Yuga. The appeals court said that while Yuga does have priority on the trademark due to being the first to use «the Bored Ape Yacht Club marks,» it had not proven that Ripps’ NFTs were causing confusion.

Nevertheless, Yuga Labs must return to trial. «Yuga may ultimately prevail on these claims, but to do so it must convince a factfinder at trial,» the filing said.