Quantum X Inc. announces strategic advisory collaboration with Ostium to support platform growth. Oct 21, 2026, 09:30 ET Quantum X to provide strategic advisory services supporting Ostium's commercial growth and expansion across global financial markets. LOCUST VALLEY, N.Y., Oct. 21, 2026 /PRNewswire/ - Quantum X Inc. (OTC: QUTX) ("Quantum X" or the "Company"), a publicly traded company advancing opportunities in quantum technology and artificial intelligence applications, today announced its ongoing strategic advisory collaboration with Ostium, a high-growth leveraged trading platform providing access to global financial markets through stablecoin-based infrastructure. Ostium is backed by over $27 million from venture capital and market-making firms including General Catalyst, a prominent global investment and transformation firm that manages over $43 billion in assets under management (AUM), as well as Jump Crypto, Susquehanna (SIG), and LocalGlobe. Through this relationship, Quantum X is providing targeted strategic advisory support designed to accelerate Ostium's ongoing growth initiatives, scale its commercial opportunities, and expand its footprint among professional market participants. Ostium operates a trading platform offering leveraged exposure to currencies, commodities, cryptocurrencies, and equities, with settlement in stablecoins. Its recently introduced Gateway platform extends this infrastructure to professional market participants, exchanges, fintech companies, and other financial service providers through API-based access to trading and hedging capabilities. The collaboration complements Quantum X's broader strategy at the intersection of advanced computing and financial markets. Through initiatives exploring artificial intelligence, quantitative modeling, and emerging quantum computing techniques, Quantum X is evaluating how innovative technologies may support the analysis of complex financial data. Ostium's trading infrastructure represents a complementary area of the financial technology ecosystem, connecting traditional global markets with modern digital trading and settlement capabilities. The relationship reflects Quantum X's broader interest in emerging financial technologies and market infrastructure, particularly businesses developing innovative approaches to accessing and participating in global financial markets. The advisory arrangement is designed to align Quantum X's interests with growth in trading activity across Ostium's platform. Emil Assentato, Chief Executive Officer of Quantum X, commented: "We are pleased to collaborate with Ostium and support the company's growth across global financial markets. The Ostium team has developed a compelling platform that bridges traditional market access with stablecoin-based financial infrastructure. We see significant opportunity to contribute through our strategic advisory capabilities, supporting Ostium's commercial growth and the broader adoption of its trading infrastructure. We look forward to building on this collaboration and creating meaningful value together." The collaboration provides Quantum X with an opportunity to participate in the growth of an emerging financial technology platform while continuing to evaluate strategic opportunities across the broader technology sector. About Ostium Ostium is a leveraged trading platform for global markets, giving traders access to currencies, commodities, crypto and equities with stablecoin settlement. Its new Gateway platform gives CFDs, exchanges, prosumers, and fintechs API access to its infrastructure, enabling them to trade and hedge exposure against deep liquidity. Ostium has raised over $27 million from investors including General Catalyst, Jump Crypto, Susquehanna (SIG) and LocalGlobe. About Quantum X Inc. Quantum X Inc. (OTC: QUTX), formerly Two Hands Corporation, is a publicly traded company focused on multi-vertical opportunities in quantum technology and artificial intelligence applications. The Company is currently advancing a strategic transition toward quantum-focused opportunities while continuing to evaluate related emerging technology verticals. The Company's common stock trades in the U.S. over-the-counter market under the symbol QUTX. Forward-Looking Statements This news release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements include, but are not limited to, statements concerning the anticipated benefits, scope, and development of the strategic advisory collaboration with Ostium; the Company's ongoing transition toward emerging technology, financial technology infrastructure, and artificial intelligence and quantum technology opportunities; and the anticipated contributions of the Company's management and technical personnel. Forward-looking statements are based on the Company's current expectations, estimates, assumptions, and projections and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. These risks and uncertainties include, but are not limited to, the success and growth trajectory of Ostium's trading platform and stablecoin-based infrastructure; market acceptance of emerging financial technologies; access to qualified personnel and financial resources; reliance on third-party platforms and infrastructure; competition within the financial technology and digital asset sectors; regulatory developments affecting digital assets, stablecoins, and leveraged trading platforms; and the Company's ability to execute its overarching business strategy. There can be no assurance that any contemplated strategic objective, commercial deployment, or collaborative outcome will be achieved. Readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statement except as required by applicable law. SOURCE Quantum X Inc

Utah sues Kalshi, seeks up to $61M over alleged illegal betting. By anonymous - October 21, 2026 Utah has filed a civil lawsuit against prediction market operator Kalshi and several trading firms, seeking to recover up to $61.2 million in allegedly unlawful fees and stop the platform from offering event contracts to state residents. Attorney General Derek Brown accused Kalshi and its affiliates of facilitating illegal gambling since September 2024, in an October 20 court complaint. The case, filed in Utah's Third District Court, names two Susquehanna trading companies alongside the prediction market operator. Meanwhile, the lawsuit seeks an injunction against contracts covering sports, elections, politics, culture and mentions, along with restitution and the surrender of profits the state alleges were obtained illegally. Utah targets Kalshi over $61 million in alleged betting fees. Brown's office estimates that Kalshi collected between $30.6 million and $61.2 million in fees from accounts associated with Utah through October 19. The calculation relies on the state's estimate of more than three billion wagers placed by those accounts, with Kalshi collecting roughly one to two cents per transaction. The complaint estimates that more than 32,000 verified users were based in Utah, a figure dating to February. It separately alleges that residents lost approximately $5.5 million through individual wagers. Those amounts are estimates presented by the state. They have not been established as damages by a court, and the requested recovery could change as the parties exchange financial records. At an October 20 press conference, Brown characterized the operation as a public nuisance that harmed Utah residents. "We're also asking the court to make the defendants give up the profits that they have made," Brown said, describing the state's request for restitution and other remedies. Utah wants the defendants to implement court-approved geolocation measures that would prevent residents from accessing the disputed markets. Susquehanna trading firms face claims alongside exchange operator. The case goes beyond Kalshi's role in listing event contracts. Utah named Susquehanna International Group and Susquehanna Government Products, accusing the trading firms of participating in transactions that the state considers unlawful wagers. According to the complaint, Kalshi Trading and the Susquehanna defendants acted as counterparties to customer positions, receiving money when customers lost. The state argues that the defendants' involvement resembles a gambling operation, even when transactions are described as event contracts and executed through a federally registered derivatives venue. Kalshi disputes that characterization. Its spokesperson, Jacki McGavick, said the exchange operates under federal oversight and allows customers to trade against one another while determining market prices. "As a national derivatives market overseen by the CFTC, Kalshi answers to federal law," McGavick said in a statement responding to the lawsuit. She maintained that individual states should not control access to the federally regulated platform and said the new state-court case would not affect Kalshi's existing federal litigation. Federal court ruling leaves prediction market appeal unresolved. Kalshi sued Utah officials in February, arguing that the federal Commodity Exchange Act prevented the state from applying its gambling restrictions to the platform's sports contracts. On August 4, U.S. District Judge Robert Shelby rejected that argument and granted summary judgment to Utah. The court's written order found that federal commodities law did not preempt enforcement of the state's gambling statutes. Kalshi appealed to the Tenth Circuit. In September, the appeals court denied its request for emergency protection against state enforcement while the appeal proceeded. As crypto.news reported in September, that decision allowed Utah to enforce its gambling restrictions without waiting for the appeal's final resolution. The October civil lawsuit is a separate proceeding seeking monetary remedies and restrictions on the defendants' activities within the state. New Jersey Supreme Court petition adds to legal uncertainty. Courts elsewhere have reached different conclusions about whether federal oversight prevents states from regulating prediction markets. In New Jersey, the Third Circuit previously sided with Kalshi at the preliminary-injunction stage. State officials subsequently petitioned the Supreme Court to review the federal jurisdiction question. The National Football League later supported New Jersey's petition, arguing that sports integrity and consumer protections require continued state authority. The Supreme Court has not agreed to hear the dispute. Kalshi's response to the petition is due November 9. Other states have pursued financial remedies through similar litigation. In July, New York sued the prediction market, seeking penalties over event contracts that officials alleged violated state gambling laws. Utah's latest complaint asks the state court to order restitution, surrender of alleged unlawful profits and additional relief after the defendants' financial records are examined.

Utah sues Kalshi and Susquehanna to halt alleged illegal betting. Utah's lawsuit could reshape prediction markets by challenging their classification, potentially deterring liquidity providers and impacting growth.