CFTC, Prediction Market Trade Group Back Kalshi At 6th Circ.

By Aislinn Keely

The U.S. Commodity Futures Trading Commission and a prediction market trade group are pressing the Sixth Circuit to affirm sole federal oversight of event contracts in separate briefs that argued state gambling laws are a poor fit to regulate trading on real-world events.

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Kalshi Says NM Tribes Lack Power Over Its Sports Contracts

By Crystal Owens

Kalshi is asking a New Mexico district court to dismiss a challenge by four Indigenous nations trying to block the prediction market platform from offering online sports betting within Indian Country, arguing that allowing the tribes to exercise regulatory authority will enable hundreds of other tribes to follow suit.

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Sens. Want CFTC Restricted From Prediction Markets Suits

By Katryna Perera

A group of 17 Democratic senators has called on a U.S. Senate subcommittee to prohibit the U.S. Commodity Futures Trading Commission from using federal funds to prevent states and tribes from enforcing their gambling laws against prediction markets as litigation over the legality of their offerings continues to spread.

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FDIC Calls For Narrower Resolution Plans, Assessment Cuts

By Jon Hill

The Federal Deposit Insurance Corp. on Thursday floated new rules that would significantly scale back its resolution-planning requirements for large banks and slash the banking industry's annual deposit insurance assessment bill by $4 billion, or roughly a third.

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CFPB Updates Online Complaint Process To Stem 'Abuse'

By Sarah Jarvis

The Consumer Financial Protection Bureau is updating its complaint submission process, including by requiring those who submit complaints online to verify their email address and phone number, in moves that the National Consumer Law Center said aim to discourage complaints against the major credit reporting companies.

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SEC's Peirce Says Trade Suspension Appeals Belong In Court

By Jessica Corso

The U.S. Securities and Exchange Commission on Thursday denied a request by a penny stock company to terminate a COVID-era trading suspension against it, but Commissioner Hester Peirce wrote in a separate concurrence that she believes suspended companies can appeal directly to a federal appellate court without going through the agency first.

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Fintech Airwallex Valued At $11B After $320M Funding Round

By Jade Martinez-Pogue

Airwallex on Thursday announced that its valuation hit $11 billion after it raised $320 million in the latest investor funding round, capital that the fintech firm said will be used to grow its teams, speed up product development across autonomous finance and agentic commerce, and expand infrastructure.

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Ex-SEC Chief Litigation Counsel Joins Norton Rose

By Jack Rodgers

Norton Rose Fulbright has hired the former assistant chief litigation counsel at the U.S. Securities and Exchange Commission's Division of Enforcement, who has moved to the team after working for several years with Arnold & Porter Kaye Scholer LLP.

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Data Reveals Pivot In Feds' Financial Fraud Priorities

Recent Justice Department data shows fraud prosecutions fell to their lowest rate in a decade in 2025, illustrating a move away from traditional financial cases and toward a targeted mix of healthcare, government program, consumer and sanctions matters, say Paul Hinton and Adrienna Huffman at The Brattle Group.

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Is The SEC Entering Fight Over Prediction Market Oversight?

The U.S. Securities and Exchange Commission had remained largely silent on prediction market regulation until last week, but that trend may be changing, as many event contracts could qualify as security-based swaps, which are subject to the SEC's oversight under current definitions, say attorneys at Bradley Arant.

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Series

Moshing Makes Me A Better Lawyer

Entering a mosh pit is much like entering the practice of law — it is difficult, you have to know both the written and unwritten rules, and conduct yourself according to the expectations of each community, says Christopher Deubert at Constangy Brooks.

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Groombridge Wu Tops Milbank Pay Scale For Associates

By Kevin Penton

Groombridge Wu Baughman & Stone LLP is the latest firm to top the pay scale for associates announced earlier this month by Milbank LLP, with attorneys set to earn as much as $470,000.

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Senate Confirming Judges Faster Than In Trump's 1st Term

By Courtney Bublé

The Senate has confirmed 45 judges in the second Trump term, outpacing the rate of his first administration, Senate Republicans announced on Thursday.

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Attys Urged To Challenge Clients Who Demand AI Research

By Aaron Keller

A Connecticut federal judge urged attorneys during a Thursday sanctions hearing to push back against clients who demand lawyers use generative artificial intelligence tools to conduct legal research, saying the technology is no substitute for professional judgment and discretion because it "aims to please" and can misstate the law.

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Lack Of Evidence Sinks Insurance Fraud Case, Atty Says

By Emily Sawicki

A Louisiana law firm and lawyer found guilty of criminal conspiracy and wire fraud for staging vehicle crashes as part of a scheme to defraud insurance carriers and trucking companies are seeking acquittal or a new trial, arguing that federal prosecutors failed to support their claims with evidence.

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SCOTUSblog Founder Goldstein Blasts 'Inflated' DOJ Tax Math

By Jared Foretek

Convicted SCOTUSblog founder Tom Goldstein and federal prosecutors are clashing again over their dramatically divergent sentencing recommendations, with the defense accusing the government of presenting a "one-dimensional caricature" of the famed lawyer in seeking an eight-year sentence, and prosecutors accusing him of potentially deleting "secret chats" with his gambling backers.

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Feds Say Would-Be Kavanaugh Assassin Was Let Off Easy

By Nadia Dreid

Both federal prosecutors and a Stephen Miller-founded public interest group believe that a Maryland federal judge let a woman accused of trying to kill U.S. Supreme Court Justice Brett Kavanaugh off too easy because of her gender identity and want the Fourth Circuit to order resentencing.

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Quinn Emanuel Says 3M Fee Proposal Undervalues Its Work

By Carolina Bolado

Quinn Emanuel Urquhart & Sullivan LLP has objected to a special master's recommendation on the allocation of common benefit fees in the $6 billion settlement that ended multidistrict litigation against 3M over allegedly faulty combat earplugs, saying the amount doesn't value the "length, extent and impact" of the firm's work.

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