9th Circ. Greenlights Blocking Kalshi Contracts On Tribal Land

By Dorothy Atkins

The Ninth Circuit on Wednesday reversed an order denying California tribes' request for a preliminary injunction seeking to block Kalshi and Robinhood from offering sports-event contracts on tribal lands, finding the tribes will likely win their Indian Gaming Regulatory Act claims, and "this is the 'stuff' of sports betting."

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House Panel Advances Digital Asset Tax Framework

By Asha Glover

Congress would create parity between the tax treatment of digital assets and traditional financial assets, as well as institute safeguards against abuse, under a bipartisan digital asset tax framework package passed by the House Ways and Means Committee on Wednesday.

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Underdog Sues To Stop Conn. Crackdown On Event Contracts

By Brian Steele

The prediction market operator Underdog has joined a growing legal fracas with Connecticut officials who are trying to shut down alleged online sports betting in the state, arguing in a new federal lawsuit that only the U.S. Commodity Futures Trading Commission has jurisdiction over such companies.

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CFTC Probing Carbon Credit Markets, Enforcement Chief Says

By Aislinn Keely

U.S. Commodity Futures Trading Commission Enforcement Director David Miller said Wednesday that the division is investigating carbon credit markets as part of his agency's commitment to policing fraud in emerging markets.

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FTX Exec's Wife Headed For Spring Campaign Finance Trial

By Stewart Bishop

A Manhattan federal judge on Wednesday set a new trial date for a crypto-lobbyist/attorney turned Republican congressional candidate who's accused of plotting with her husband, jailed former FTX executive Ryan Salame, to take illegal campaign cash from the bankrupt exchange.

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State Bank Supervisor Group Issues AI Exam Framework

By Jon Hill

The Conference of State Bank Supervisors on Wednesday unveiled a new oversight framework for artificial intelligence at financial firms, rolling out resources aimed at giving state examiners a common roadmap for reviewing how their regulated institutions are deploying the technology.

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States Say DOJ's RealPage Deal Doesn't Affect Their Claims

By Isaac Monterose

A group of states told a North Carolina federal court to reject property management software company RealPage Inc.'s argument that its rent price-fixing settlement with the federal government moots the states' antitrust claims.

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SEC Fines Ex-Okta Employees In Insider Trading Case

By Katryna Perera

Two former Okta sales managers have reached settlements with the U.S. Securities and Exchange Commission to resolve claims that they traded Okta stock on insider information before the company announced that its financial plan for the year needed adjustment.

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OE Fed Credit Union's $2.3M 'Boilerplate' Breach Deal Denied

By Bonnie Eslinger

A California federal judge on Wednesday withheld preliminary approval for a $2.3 million settlement over a cyberattack on OE Federal Credit Union, blasting the filing for its "boilerplate language" and "generic statements" and saying it lacked information to determine whether it's a good deal for the consumer class members.

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Philly Says DraftKings Suit Seeks To Block Consumer Probe

By Bonnie Eslinger

Philadelphia has urged a Pennsylvania federal judge to throw out DraftKings' suit challenging the city's consumer protection ordinance, telling the court that although it's investigating how the online betting platform markets its product to residents, the complaint is premature since the city hasn't taken any enforcement action.

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Debevoise-Led Portage Wraps $600M Venture Fund

By Jade Martinez-Pogue

Debevoise & Plimpton LLP-advised financial technology investment platform Portage on Wednesday revealed that it clinched its fourth fund after securing $600 million of investor commitments.

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4 Words In A 1980 Law Could Redraw Bank Lending

The Tenth Circuit's interpretation of a single phrase in the Depository Institutions Deregulation and Monetary Control Act could reshape interstate bank lending, requiring banks and fintechs to document loan-making functions, monitor repayment triggers, and reassess true lender and contractual risks, say attorneys at Sheppard.

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Series

Law School's Missed Lessons: Cultivating Good Judgment

Law schools generally overlook the role that solid judgment skills play in real-world practice, but attorneys can bridge the gap by strengthening their abilities to assess a case’s strengths and weaknesses, develop and execute effective strategies, and provide clear recommendations to clients, says Manny Caixeiro at Venable.

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Burford Exec, Holland & Knight Adviser Open AI-Native Firm

By Andrea Keckley

Two veterans of the legal industry announced on Wednesday that they have teamed up to launch FairPlay Law, an AI-native firm based in Manhattan and focused on representing employees.

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Michael Best Combines With NY-Based Kane Kessler

By Kevin Penton

Michael Best & Friedrich LLP announced Wednesday that it is combining with New York-based firm Kane Kessler PC, adding 36 attorneys and a Big Apple presence to a firm that ranked 143rd on Law360's list of the nation's largest law firms.

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Protesters Say Feds' Fight Shows Need For Misconduct Probe

By Lauraann Wood

The U.S. government's opposition to a special investigation of prosecutorial misconduct that "poisoned" a now-dismissed criminal conspiracy case suggests Chicago prosecutors are still shielding critical details regarding the extent of official communications preceding the prosecution, underscoring the probe's necessity, protesters argued Tuesday.

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Apple Backs Its $132K Fee Ask Over 'Bad Faith' Subpoenas

By Bonnie Eslinger

Apple has urged a California federal magistrate judge to grant its $132,700 attorney fee request as a sanction against plaintiff consumers' lead lawyer in antitrust litigation claiming Google muscles out rival search engines, but said Apple's counsel doesn't want to disclose their "highly and competitively sensitive" negotiated legal rates.

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Newman Saga Prompts Bill To Limit Judicial Suspensions

By Courtney Bublé

The long-running saga over Federal Circuit Judge Pauline Newman's fitness to remain on the court has exposed "major flaws" in the judicial accountability system, according to a Republican member of the House who introduced a bill Wednesday to reform it.

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Brief

Senate Panel Weighs 6 Trump Judicial Picks From Red States

By Courtney Bublé

Six nominees for U.S. district judge appeared before the Senate Judiciary Committee on Wednesday for their nomination hearing.

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