CFTC Sues Minnesota Over Law Banning Prediction Markets

By David Steele

The U.S. Commodity Futures Trading Commission sued Minnesota on Tuesday to block a newly enacted ban on prediction markets, the sixth state the CFTC has taken to federal court to assert control over regulation of the markets.

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Trump Banking Orders Boost Fintechs, Block Immigrants

By Lauren Berg

President Donald Trump on Tuesday signed a pair of executive orders aimed at preventing undocumented immigrant workers from using the U.S. financial system and expanding financial technology firms' access to Federal Reserve payment accounts and services.

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Sen. Warren Presses OCC On Crypto Trust Charter Approvals

By Aislinn Keely

Sen. Elizabeth Warren, D-Mass., is demanding Comptroller of the Currency Jonathan Gould share documents and communications related to the approval of national trust charters for cryptocurrency firms, which Warren argues are "seemingly ineligible" since the firms' business plans appear to wade into traditional banking activities.

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SEC Eyes Public Market Reforms With 2 New Proposals

By Jessica Corso

The U.S. Securities and Exchange Commission on Tuesday introduced a pair of proposals that could make it easier for publicly traded companies to raise capital through so-called shelf offerings while also reducing disclosure requirements for more issuers, arguing the proposals would bolster the public markets. 

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Brief

NJ Plans To Take 3rd Circ. Kalshi Loss To US Supreme Court

By George Woolston

New Jersey plans to seek U.S. Supreme Court review of a recent Third Circuit decision that upheld an injunction on the state's attempt to ban sports prediction markets, according to a joint status report filed by the state and KalshiEx LLC in New Jersey federal court. 

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NC Judge OKs DOJ, RealPage Deal In Antitrust Suit

By Grace Dixon

A North Carolina federal judge signed off on the U.S. Department of Justice's settlement with RealPage, the latest development in a suit alleging landlords coordinated to inflate rental prices via the company's algorithmic pricing software.

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Ex-Trader Says Crypto Co.'s Bid For Sanctions Is 'Unfounded'

By Hayley Fowler

A former trader said a cryptocurrency company is using an "unfounded" characterization of his deposition conduct to seek sanctions and lend credence to facts it hasn't otherwise been able to prove in its suit accusing him of usurping $8.1 million in digital assets.

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Bitcoin ATM Co. Says Compliance Measures Sent It To Ch. 11

By Rick Archer

Counsel for cryptocurrency automatic teller machine Bitcoin Depot told a Texas bankruptcy judge Tuesday that regulatory pressure and self-imposed anti-fraud measures caused a sharp drop in revenue that sent the company into Chapter 11.

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What Model Risk Guidance Update Means For Banks

Federal prudential regulators recently issued new model risk management guidance for banks that is designed to reduce prescriptive supervisory expectations and instead focus more on material financial risk, so banking organizations should reassess their model inventories, apply the new materiality framework and update their internal policies, say attorneys at Orrick.

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Operational AI Washing: The Section 220 Information Strategy

Plaintiffs filing AI washing claims will likely use Section 220 of the Delaware General Corporation Law to obtain internal board records, but 2025 amendments have fundamentally changed the landscape of presuit shareholder document demands in ways that create both risk and opportunity for companies, say attorneys at Akerman.

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Becoming The Biz-Savvy GC That Portfolio Companies Need

Candidates for general counsel roles at private equity-backed portfolio companies should prioritize proving their sector-specific experience, commercial judgment and ease with uncertainty — and attorneys hoping to be candidates in five to 10 years should start working on those skills now, says Dimitri Mastrocola at Major Lindsey.

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OpenAI Says ChatGPT Misuse Is Users' Responsibility

By Emily Sawicki

OpenAI has asked a federal judge in Chicago to end an insurance company's suit alleging it practices law without a license, arguing the complaint should be directed toward individuals who misuse the company's ChatGPT bot to file faulty motions, and not the generative AI platform itself.

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2 Fla. County Courts Requiring AI Disclosure In Court Filings

By Sarah Martinson

Two Florida circuit courts in Miami-Dade and Broward counties are requiring attorneys and self-represented litigants to disclose when they use generative text tools to prepare their court filings and to certify they checked the generated content for accuracy.

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2nd Circ. Pick Questioned At Hearing On Role As Trump Lawyer

By Courtney Bublé

Matthew Schwartz, a nominee for the Second Circuit, was questioned by Democratic senators Wednesday about whether his current job as the president's personal attorney while his nomination process is underway poses a conflict of interest.

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Atty Withdrawals Not Limited To Fee Conflicts, ABA Says

By Emily Sawicki

Lawyers whose clients fail to hold up their end of valid engagement agreements are clear to cease their representation, so long as certain criteria are met, according to the American Bar Association's ethics committee's latest guidance, published Wednesday.

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Comey Wants Arraignment Pushed For Dismissal Bid

By Phillip Bantz

Former FBI Director James Comey asked a North Carolina federal court Wednesday to postpone his arraignment on charges alleging he threatened President Donald Trump, telling a judge that he is preparing to seek to have the case thrown out on constitutional grounds.

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Mich. Supreme Court Mulls Remote Court Access Rules

By Susan Smiley

The Michigan Supreme Court held administrative hearings on Wednesday concerning several proposed amendments to Michigan court rules, including adding more specific guidelines for remote hearings, making language services free for civil cases, and allowing law students and recent law graduates to appear on behalf of indigent people in all Michigan courts.

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Hagens Berman Says Apple Smear Job Can't Stop Withdrawal

By Bonnie Eslinger

Hagens Berman Sobol Shapiro LLP urged a California federal judge to allow one of its named plaintiffs to withdraw from an Apple iCloud antitrust case, saying Apple Inc.'s filed opposition is rife with "misdirection and ad hominem" attacks and not about the merits of the dispute but "smearing opposing counsel."

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Blank Rome Adds 2 Infrastructure Pros To LA Office

By Isaac Monterose

Blank Rome LLP has hired two attorneys from Norton Rose Fulbright and Nossaman LLP as partners for its real estate team in Los Angeles, the firm announced Tuesday.

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