diff --git a/entities/internet-finance/kalshi.md b/entities/internet-finance/kalshi.md
index c1d10657..e9708a83 100644
--- a/entities/internet-finance/kalshi.md
+++ b/entities/internet-finance/kalshi.md
@@ -43,6 +43,7 @@ CFTC-designated contract market for event-based trading. USD-denominated, KYC-re
 
 - **2026-01-XX** — Targeting $20B valuation alongside Polymarket as prediction market duopoly emerges
 - **2025-XX-XX** — Positioned for retail adoption through traditional broker integration with native CFTC approval
+- **2026-02-19** — Tennessee federal court ruled in Kalshi's favor, finding sports contracts are 'swaps' under CEA exclusive jurisdiction and conflict preemption applies. Circuit split emerges as Nevada, Massachusetts, and Maryland courts rule against federal preemption.
 ## Competitive Position
 - **Regulation-first**: Only CFTC-designated prediction market exchange. Institutional credibility.
 - **vs Polymarket**: Different market — Kalshi targets mainstream/institutional users who won't touch crypto. Polymarket targets crypto-native users who want permissionless market creation. Both grew massively post-2024 election.
diff --git a/inbox/archive/.extraction-debug/2026-02-01-coindesk-pudgypenguins-tokenized-culture-blueprint.json b/inbox/archive/.extraction-debug/2026-02-01-coindesk-pudgypenguins-tokenized-culture-blueprint.json
new file mode 100644
index 00000000..82188d08
--- /dev/null
+++ b/inbox/archive/.extraction-debug/2026-02-01-coindesk-pudgypenguins-tokenized-culture-blueprint.json
@@ -0,0 +1,35 @@
+{
+  "rejected_claims": [
+    {
+      "filename": "mainstream-first-acquisition-funnels-outperform-crypto-first-funnels-for-community-owned-IP.md",
+      "issues": [
+        "missing_attribution_extractor"
+      ]
+    },
+    {
+      "filename": "cultural-penetration-metrics-can-exceed-revenue-by-orders-of-magnitude-when-virality-precedes-monetization.md",
+      "issues": [
+        "missing_attribution_extractor"
+      ]
+    }
+  ],
+  "validation_stats": {
+    "total": 2,
+    "kept": 0,
+    "fixed": 5,
+    "rejected": 2,
+    "fixes_applied": [
+      "mainstream-first-acquisition-funnels-outperform-crypto-first-funnels-for-community-owned-IP.md:set_created:2026-03-16",
+      "mainstream-first-acquisition-funnels-outperform-crypto-first-funnels-for-community-owned-IP.md:stripped_wiki_link:progressive-validation-through-community-building-reduces-de",
+      "mainstream-first-acquisition-funnels-outperform-crypto-first-funnels-for-community-owned-IP.md:stripped_wiki_link:community-ownership-accelerates-growth-through-aligned-evang",
+      "cultural-penetration-metrics-can-exceed-revenue-by-orders-of-magnitude-when-virality-precedes-monetization.md:set_created:2026-03-16",
+      "cultural-penetration-metrics-can-exceed-revenue-by-orders-of-magnitude-when-virality-precedes-monetization.md:stripped_wiki_link:information-cascades-create-power-law-distributions-in-cultu"
+    ],
+    "rejections": [
+      "mainstream-first-acquisition-funnels-outperform-crypto-first-funnels-for-community-owned-IP.md:missing_attribution_extractor",
+      "cultural-penetration-metrics-can-exceed-revenue-by-orders-of-magnitude-when-virality-precedes-monetization.md:missing_attribution_extractor"
+    ]
+  },
+  "model": "anthropic/claude-sonnet-4.5",
+  "date": "2026-03-16"
+}
\ No newline at end of file
diff --git a/inbox/archive/2026-02-01-coindesk-pudgypenguins-tokenized-culture-blueprint.md b/inbox/archive/2026-02-01-coindesk-pudgypenguins-tokenized-culture-blueprint.md
index 7e8dc14a..b64e7288 100644
--- a/inbox/archive/2026-02-01-coindesk-pudgypenguins-tokenized-culture-blueprint.md
+++ b/inbox/archive/2026-02-01-coindesk-pudgypenguins-tokenized-culture-blueprint.md
@@ -7,10 +7,14 @@ date: 2026-02-01
 domain: entertainment
 secondary_domains: [internet-finance]
 format: report
-status: unprocessed
+status: null-result
 priority: high
 tags: [pudgy-penguins, community-owned-IP, tokenized-culture, mainstream-first, Web3-entertainment, IPO]
 flagged_for_rio: ["Token economics of community-owned IP at public market scale — PENGU tokenomics, Pengu ETF, IPO pathway"]
+processed_by: clay
+processed_date: 2026-03-16
+extraction_model: "anthropic/claude-sonnet-4.5"
+extraction_notes: "LLM returned 2 claims, 2 rejected by validator"
 ---
 
 ## Content
@@ -49,3 +53,20 @@ CoinDesk Research deep-dive on Pudgy Penguins as a blueprint for tokenized cultu
 PRIMARY CONNECTION: [[community ownership accelerates growth through aligned evangelism not passive holding]]
 WHY ARCHIVED: Most comprehensive data set on community-owned IP at scale; the mainstream-first strategy is a specific innovation worth capturing as a claim
 EXTRACTION HINT: Focus on the STRATEGY (mainstream-first funnel) and the TENSION (IPO vs community ownership). The numbers validate existing claims but the strategy and tension are novel.
+
+
+## Key Facts
+- Pudgy Penguins generated $13M+ in physical retail revenue through Walmart, Target, and Walgreens
+- Pudgy Penguins sold 1M+ physical units
+- Pudgy Penguins achieved 123% CAGR through 2025
+- Pudgy Penguins has 28.5K GIPHY uploads generating 65.1B views
+- PENGU token was airdropped to 6M+ wallets in December 2024
+- PENGU has 7%+ of meme token CEX volume share
+- 710M PENGU tokens unlock monthly for 36 months starting December 2025
+- Pudgy Penguins FDV is ~$1.1B at ~22x revenue
+- Pudgy Penguins distributed ~$1M in royalties to NFT holders
+- Pudgy Party achieved 500K+ downloads in 2 weeks
+- Pudgy World has 160K users
+- SEC acknowledged Pengu ETF structure in July 2025
+- Pudgy Penguins targets 2027 IPO
+- Pudgy Penguins is in 2000 Walmart stores and 2000 Walgreens locations