CFTC Sues Wisconsin In Latest Prediction Market State Battle

By Aislinn Keely

The U.S. Commodity Futures Trading Commission on Tuesday added Wisconsin to the list of states it's taking to court to assert its "exclusive jurisdiction" over prediction markets after the state accused five platforms of offering illegal bets through their event contract offerings.

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Kalshi Hit With Refer-A-Friend Text Suit In Wash.

By Nadia Dreid

Kalshi has become the latest company to be hit with a lawsuit in Washington federal court over refer-a-friend texts that recipients say violate the state's Commercial Electronic Mail Act by encouraging texts to be sent to people who never consented to receive them.

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Soldier Accused Of Betting On Maduro Raid Pleads Not Guilty

By Cara Salvatore

A U.S. Army sergeant who helped plan the capture of deposed Venezuelan President Nicolás Maduro pled not guilty in Manhattan federal court Tuesday to profiting by at least $365,000 by gambling on the raid on Polymarket.

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Fintech Co. Ryvyl Settles SEC Blockchain Disclosure Suit

By Hailey Konnath

Financial technology company Ryvyl Inc. and its founders have agreed to settle the U.S. Securities and Exchange Commission's allegations that the company made disclosures falsely representing itself as selling blockchain-based payment solutions, according to an announcement.

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Brief

OCC Gives Banking Charter Nod To Fintech Co. For Startups

By Aislinn Keely

Financial technology company Mercury, with Skadden attorneys as its counsel, said Tuesday it received conditional approval from the Office of the Comptroller of the Currency to set up a national bank that will allow Mercury to expand the financial tools it provides to founders and their startups.

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Celsius' Mashinsky Must Pay FTC $10M

By Bonnie Eslinger

A Manhattan federal judge on Tuesday ordered Celsius Network's co-founder to pay $10 million to the U.S. Federal Trade Commission to settle litigation saying he misrepresented the cryptocurrency lender's practices and safety measures, and that she'd suspend a $4.7 billion judgment based on his cooperation with the government.

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Sam Bankman-Fried Loses Bid For New Trial In FTX Case

By Hailey Konnath

A New York federal judge on Tuesday denied Sam Bankman-Fried's request for a new trial, finding that the incarcerated FTX founder hasn't pointed to any evidence that's actually new and saying that his push for a new trial "appears to be one part of a plan to rescue his reputation."

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Cartier Descendant Gets 8 Years For Crypto-Laundering Plot

By Pete Brush

A Manhattan federal judge on Tuesday hit an Argentinian businessman with ties to the family that created jewelry giant Cartier with an eight-year prison sentence, after he admitted lying to banks as his cryptocurrency exchange laundered narcotics proceeds.

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Robinhood Fraudsters Must Pay $432K In SEC Judgment

By Katryna Perera

Two men who pled guilty in 2024 to being involved in a scheme to steal millions of dollars from trading firm Robinhood must pay, in total, more than $432,000 in disgorgement and over $42,000 in prejudgment interest in a parallel civil suit brought by the SEC.

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SPAC Targets Maha Capital In $490M Energy-Fintech Deal

By Jade Martinez-Pogue

Maha Capital AB, a Swiss public company that boasts a portfolio of energy-related assets and fintech operations, on Tuesday revealed it had entered into a letter of intent to merge with special purpose acquisition company Blue Water Acquisition Corp. IV to form a new, publicly traded company.

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Flipcause Converted To Chapter 7 After Sale, Creditor Deal

By Clara Geoghegan

A Delaware judge Tuesday agreed to convert the bankruptcy of charity financial technology group Flipcause to a Chapter 7 liquidation after its Chapter 11 trustee sold its assets and reached a settlement with creditors.

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Small And Midsize Business Finance Faces More State Regs

Recent developments in state credit disclosure, consumer debt collection, and lender licensing and registration requirements suggest that companies extending financing to small and midsize businesses are likely to encounter a significantly more stringent legal climate moving forward, say attorneys at Manatt.

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GrayRobinson Sued Over 'Reckless' Data Security Measures

By Adrian Cruz

GrayRobinson PA has been hit with a proposed class action accusing the Florida-based firm of negligence following the revelation of a March 2025 data breach that exposed the personal data of around 65,000 people.

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Judge Publicly Scolds 'Disgraced' Ex-Prosecutor For AI Errors

By Hayley Fowler

A North Carolina federal judge has eviscerated a former federal prosecutor in a public reprimand for his use of artificial intelligence to draft a response brief that was riddled with hallucinations, calling out the prosecutor's "lack of candor" and saying he "disgraced not only himself, but also the entire office he formerly served."

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Comey Indicted Again As Feds Call Seashell Message 'Threat'

By Phillip Bantz

Former FBI director James Comey was again indicted Tuesday by the Trump administration, this time over a social media post last year of an image of seashells arranged on a North Carolina beach to form the message "86 47," which prosecutors characterized as a threat of violence against the president.

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Maurene Comey Can Sue DOJ Over Firing, Judge Rules

By Phillip Bantz

Former Manhattan federal prosecutor Maurene Comey can move forward with her lawsuit alleging that President Donald Trump's administration fired her because she is the daughter of ex-FBI director and Trump's perceived enemy James B. Comey, a federal judge ruled Tuesday.

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ADT Blasts 'Speculative' Bid To DQ Ogletree From Bias Case

By Gina Kim

ADT LLC urged a Georgia federal judge on Monday to reject an attorney's motion to disqualify Ogletree Deakins Nash Smoak & Stewart PC from defending it against discrimination claims while concurrently defending Microsoft Corp. in the attorney's own pregnancy bias suit, arguing the two matters are wholly separate and unrelated so there's no conflict. 

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Nadine Menendez Says Feds Need To 'Look Into The Mirror'

By George Woolston

Nadine Menendez dug into her bid for bail while she appeals her conviction on a bribery scheme carried out with her ex-politician husband, telling a New York federal court that prosecutors refuse to own up to their handling of the "forced withdrawal" of her counsel.

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Brief

Teleflex Settles Catheter Patent Case Against Medtronic

By Elliot Weld

Medical device company Teleflex and Medtronic have reached a settlement to end a catheter patent dispute from which a judge recused himself after explaining he was "at a loss" on how to proceed.

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