The U.S. Department of Justice and the U.S. Commodity Futures Trading Commission on Wednesday backed Kalshi's assertion that Arizona's gambling laws cannot be applied to federally regulated prediction market platforms, the same day the Phoenix federal court rejected Kalshi's bid to halt enforcement of those state laws.
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TOP NEWS

Feds Move To Block Arizona's Gambling Laws Against Kalshi

By Lauren Berg

The U.S. Department of Justice and the U.S. Commodity Futures Trading Commission on Wednesday backed Kalshi's assertion that Arizona's gambling laws cannot be applied to federally regulated prediction market platforms, the same day the Phoenix federal court rejected Kalshi's bid to halt enforcement of those state laws.

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FinCEN, OFAC Propose AML Rules For Stablecoin Issuers

By Sarah Jarvis

The U.S. Department of the Treasury's Financial Crimes Enforcement Network and Office of Foreign Assets Control issued a joint proposed rule Wednesday to implement the anti-money laundering and sanctions compliance program requirements of the federal stablecoin framework known as the Genius Act.

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Trump Economists Say Stablecoin Yield Ban Won't Help Banks

By Jon Hill

Economists to President Donald Trump said Wednesday that banning cryptocurrency exchanges from paying stablecoin rewards or yield would "do very little to protect bank lending" and leave consumers worse off, findings that come amid a contentious push to tighten yield restrictions.

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SEC Taps Gibson Dunn Partner For Enforcement Director

By Sarah Jarvis

The U.S. Securities and Exchange Commission announced Wednesday that it has appointed a Gibson Dunn & Crutcher LLP partner and former senior enforcement attorney to serve as director of the agency's Division of Enforcement, following the abrupt resignation of the most recent director.

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Binance, Ex-CEO Seek End To $1.8B FTX Clawback Suit

By Rick Archer

Binance and its founder told a Delaware bankruptcy judge Wednesday there are no grounds on which to claw back a $1.76 billion payment to the cryptocurrency platform from its defunct competitor FTX, saying it was a fair deal reached outside her jurisdiction.

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POLICY & REGULATION

SEC Watchdog To Pay Tipsters Who Uncover Agency Waste

By Emilie Ruscoe

The U.S. Securities and Exchange Commission's Office of Inspector General has launched a cash awards program that the agency hopes will incentivize its workers to report fraud, waste and mismanagement.

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PEOPLE

Securities And M&A Litigator Rejoins Latham From Cooley

By Andrea Keckley

Latham & Watkins LLP has announced that a New York litigator has rejoined its ranks after a decade-long stint with Cooley LLP.

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EXPERT ANALYSIS

Understanding The SEC's Consequential Crypto Guidance

The U.S. Securities and Exchange Commission's recent interpretive release — its most comprehensive statement ever on the application of the federal securities laws to crypto-assets — reimagines the Howey test to resolve long-standing questions over what is a security, but leaves many issues unresolved, say attorneys at Cahill.

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LEGAL INDUSTRY

The 2026 Law360 Pulse Lawyer Satisfaction Survey

How is your work-life balance? Are you content with your compensation and opportunities for advancement at work? Take the 2026 Law360 Lawyer Satisfaction Survey and share your thoughts.

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Lewis Brisbois Accused Of Ignoring Racism, Unethical Billing

By Aebra Coe

A former national billing director of Lewis Brisbois Bisgaard & Smith LLP filed a lawsuit in California state court this week accusing the firm of ignoring racist conduct and sexual harassment by partners, and alleging unethical billing practices and even embezzlement.

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Trump Picks Ohio Ex-Solicitor General For 6th Circ.

By Courtney Bublé

President Donald Trump announced Thursday evening that he is tapping Benjamin Flowers, former solicitor general of Ohio, to serve on the U.S. Court of Appeals for the Sixth Circuit.

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DOJ Calls Immigrant Legal Aid Wasteful In Budget Push

By Courtney Bublé

Tucked into the Trump administration's budget request for fiscal 2027, the U.S. Department of Justice is trying once again to take an ax to a program that provides legal assistance to noncitizens.

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Analysis

Calif. AI Guardrails Split From Feds, Other States May Follow

By Madeline Lyskawa

California Gov. Gavin Newsom's recent executive order directing state agencies to implement guardrails for contracting with artificial intelligence companies marks a rift with the Trump administration's deregulatory approach that could proliferate across other states.

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Fed. Circ. Chief Feels 'Bright-Line Rule Coming' For IP Marking

By Dani Kass

As a Federal Circuit panel reprimanded embattled attorney William Ramey on Thursday for the "disrespect" shown in his failed 3D glasses patent litigation against Volkswagen, the Federal Circuit's chief judge suggested precedent may be needed to define the role of marking in admissionless settlements.

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'Mark Of Autocracy': Court Says Pentagon Defied Press Order

By Lauren Berg

The U.S. Department of Defense has not complied with a court order barring the Pentagon from taking press passes away from journalists who report on matters not authorized by the government, a D.C. federal judge ruled Thursday, saying the department's revised rules "achieve that same unconstitutional result."

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Trade Secrets Suit Is A 'Far-Flung Conspiracy,' Law Firm Says

By Adam Lidgett

A Georgia law firm wants a Nevada federal court to throw out a lawsuit accusing it of stealing trade secrets from litigation lead generator Archetype Capital Partners, calling the whole case "a far-flung conspiracy."

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MMA Law Accuses Lawyer, Insurance Co. Of RICO Scheme

By Emily Sawicki

Embattled Texas firm MMA Law has filed nearly a score of complaints amid an ongoing bankruptcy action, including accusing a Louisiana attorney, his wife and an insurer of working together to "target, dismantle and destroy" the firm in an effort to avoid sharing a cut of legal fees stemming from storm damage claims.

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COMPANIES IN TODAY'S NEWS

Amica Center for Immigrant Rights

Anthropic PBC

Binance Holdings Ltd.

Coinbase Global Inc.

Elite

Exxon Mobil Corp.

Gallup Inc.

Google LLC

Life Partners Holdings Inc.

LinkedIn Corp.

NFL Enterprises LLC

NVIDIA Corp.

National Basketball Association Inc.

New York University

Ripple Labs Inc.

State Bar of Texas

The New York Times Co.

The UPS Store

Therapeutics Inc.

Volkswagen AG

LAW FIRMS IN TODAY'S NEWS

Ahmad Zavitsanos

Albright Stoddard

Alexander Morrison & Fehr

Baker & Hostetler

Blank Rome

Cahill Gordon

Connolly Gallagher

Cooley LLP

Dechert LLP

Fabian VanCott

Finnegan

Gibson Dunn

Holland & Knight

Jones Day

Latham & Watkins

Lewis Brisbois

McDonald Carano

Meluney Alleman

Milbank LLP

Morvillo Abramowitz

Pachulski Stang

Pillsbury Winthrop

Ramey LLP

Richards Layton

Sbaiti & Company

Seyfarth Shaw

Sidley Austin

Snell & Wilmer

The Monson Law Firm

Vinson & Elkins

Wachtell Lipton

Walker and Patterson

White & Case

Womble Bond

GOVERNMENT AGENCIES IN TODAY'S NEWS

Arizona Attorney General's Office

Arizona Department of Gaming

California Department of Technology

City and County of San Francisco, California

Commodity Futures Trading Commission

Delaware Court of Chancery

Executive Office for Immigration Review

Federal Deposit Insurance Corp.

Federal Reserve System

Financial Crimes Enforcement Network

Louisiana Department of Insurance

Office of Foreign Assets Control

Office of the Comptroller of the Currency

Ohio Supreme Court

Texas Supreme Court

U.S. Attorney's Office for the District of Arizona

U.S. Bankruptcy Court for the District of Delaware

U.S. Court of Appeals for the Federal Circuit

U.S. Court of Appeals for the Sixth Circuit

U.S. Department of Defense

U.S. Department of Homeland Security

U.S. Department of Justice

U.S. Department of the Treasury

U.S. District & Bankruptcy Courts of Southern District of Texas

U.S. District Court for the District of Arizona

U.S. District Court for the District of Columbia

U.S. District Court for the Eastern District of New York

U.S. District Court for the Western District of Texas

U.S. Securities and Exchange Commission

U.S. Senate

U.S. Supreme Court

United States District Court for the District of Nevada