Kalshi Uses CFTC Order To Build Case For NY Shield

By Alex Lawson

Kalshi intensified its push for the Second Circuit to shield it from a New York state lawsuit targeting its sports event contracts Wednesday, arguing a new U.S. Commodity Futures Trading Commission directive demonstrates the company's need for protection.

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NYC Probes Polymarket, Kalshi Over Ads Targeting Minors

By Sarah Jarvis

The New York City Council announced Wednesday that it is investigating Kalshi, Polymarket, Coinbase and Gemini Titan for potentially false, deceptive or abusive advertising tactics for their prediction market platforms, expressing concerns about marketing directed toward young people.

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Lender Groups 'Wrong' On Interest Opt-Out Law, Ore. Says

By Jon Hill

Oregon is pushing back against financial industry groups' request to halt the state's new law aimed at capping interest rates on loans from out-of-state banks, arguing the lender trade groups suing in federal court over this so-called opt-out law are trying to impose limits on it that Congress never intended.

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Novig Loses Bid To Halt NY Action Over Prediction Market

By Sydney Price

A New York federal judge has refused to grant a temporary restraining order that would block the state from taking action against prediction market Novig, stating she was following the lead of another judge in her district who issued a similar ruling against Kalshi.

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Newrez Pays $15.5M Over Force-Placed Insurance Charges

By Gina Kim

Rithm Capital-owned mortgage servicer Newrez LLC will pay $15.5 million to resolve allegations that force-placed insurance charges were erroneously levied against customers, following a multistate mortgage loan servicing examination, according to an announcement Wednesday from the New York State Department of Financial Services.

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In 'Close' Call, 7th Circ. Backs FDIC In-House Enforcement

By Lauren Berg

In what the court called a "close and challenging call," the Seventh Circuit on Wednesday ruled the Federal Deposit Insurance Corp. could use in-house proceedings to adjudicate claims of unsound banking practices, rejecting a former Illinois community bank chairman's contention that such proceedings violate his right to trial by jury.

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PayPal Wins Final Dismissal Of Merchant Rules Antitrust Suit

By Sydney Price

PayPal on Wednesday beat for good a proposed class action over its alleged restrictive merchant agreements, with a California federal judge finding that the third version of the suit still fails to establish the consumers' standing to bring antitrust claims.

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WSJ Says Binance Sued Because It's Unhappy With Facts

By Stewart Bishop

The publisher of the Wall Street Journal on Wednesday urged a Manhattan federal judge to deep six a defamation suit brought by Binance over reporting about internal investigators at the crypto exchange who were allegedly fired after flagging Iranian sanctions violations, saying the company is just unhappy with the way the Journal reported the facts.

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Goldman Sachs To Buy NEOS Investments For Up To $2.25B

By Al Barbarino

Goldman Sachs said Wednesday that it has agreed to acquire NEOS Investments, a provider of options-based income exchange-traded funds, for up to $2.25 billion in cash and equity, in a transaction steered by three law firms. 

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What Regulatory 'Reputation Risk' Purge Means For Banks

Banks should expect closer scrutiny of account closures and service denials after federal regulators recently stripped "reputation risk" from supervisory guidance, and should tie customer decisions to documented, objective legal and financial criteria to protect against debanking-related enforcement, say attorneys at Troutman.

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How Axing SEC Trade-Through Rule Could Reshape Markets

The proposed elimination of a Securities and Exchange Commission rule that mandates a price benchmark for equity securities trades could allow blockchain-based trades to compete with legacy frameworks in registered markets, potentially serving as a test case for updated regulatory models, say Alex Zozos at Superstate, and Lewis Rinaudo Cohen and Edward Leaf at Cahill Gordon.

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Are your summer associates prepared for a legal career?

How does your firm shape the summer associate experience and mentor new talent? Invite your summer associates to share their perspectives in this year’s Law360 Pulse Summer Associates Survey.

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Trial Firm Reid Collins To Award 3rd Set Of Associate Bonuses

By Jake Maher

Texas-based trial boutique Reid Collins & Tsai LLP is planning to dole out a third round of bonuses for the year to associates, raising their total bonus pay to between $130,000 and $170,000 on the year so far, with another round expected later in 2026.

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Aperture Expands Litigation Finance Platform To $1B

By Ryan Boysen

Alternative asset manager Aperture Investors is expanding its litigation finance platform to $1 billion in total investment capacity, mostly deployed as direct loans to plaintiffs firms.

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Deal Reached In Class Action Over Botched Calif. Bar Exam

By Emily Sawicki

A settlement has been reached in a proposed nationwide class action brought by bar applicants against the proctor of the botched February 2025 California bar exam, one month after the California State Bar settled its claims against the proctor.

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Law Grad Says Hofstra Ignored Heart Attack Mid-Bar Exam

By Andrea Keckley

A Fordham University School of Law graduate accused Hofstra University in New York state court of failing to intervene in time when she had a heart attack in the middle of the July 2025 Bar Exam, refusing to stop the test and discouraging her peers from rendering aid.

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$190K Or $1.9M? Goldstein, DOJ 'At Impasse' Over Forfeiture

By Jeff Overley

Tom Goldstein and the U.S. Department of Justice aired dramatically divergent views Wednesday of a looming financial penalty for his fraud convictions, with the famed appellate advocate voicing constitutional objections to the DOJ's request for almost $2 million and revealing that prosecutors spurned a far smaller offer.

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Analysis

DOJ Settlements Perceived As Flouting Litigation Norms

By Britain Eakin

A trend of settlements between the Trump administration and friendly parties in fast-track lawsuits to pursue policy changes has legal experts concerned about the endurance of a longstanding norm that federal courts can only hear genuine disputes between opposing parties.

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BakerHostetler Faces Possible RICO Claim From Ex-Client

By Emily Johnson

A trustee who has accused BakerHostetler and an Atlanta-based attorney of legal malpractice has asked a Georgia federal court to allow him to accuse the former de facto general counsel and business adviser of a nonprofit of violating the Georgia RICO Act.

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Q&A

She Has A Point: Shutts & Bowen's Jodi-Ann Tillman

By Dani Kass

Jodi-Ann Tillman of Shutts & Bowen LLP was brought into patent infringement litigation over drum technology just months before trial, and her performance earned high praise from opposing counsel, Foley & Lardner LLP partner Laura Ganoza.

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Trent McCotter Follows Blanche As DOJ's 2nd-In-Command

By Courtney Bublé

Following confirmation of Todd Blanche as attorney general, U.S. Department of Justice official Trent McCotter is taking his former post as deputy attorney general on a temporary basis.

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Trump, DOJ Say Firing Seattle US Atty Was Within Their Rights

By Emily Sawicki

The White House and the U.S. Department of Justice are fighting a demand for immediate reinstatement brought by Seattle's former top federal prosecutor, who was fired within an hour of a court appointing him to the role, arguing his due process rights were not violated.

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