CFTC Warns Prediction Platforms Of 'Mention Market' Risks

By Aislinn Keely

The U.S. Commodity Futures Trading Commission on Tuesday warned prediction market operators that offering wagers on whether a person will say certain words, interact with someone or attend an event comes with heightened manipulation risks that platforms must address before listing.

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Kalshi Seeks CFTC OK For Event Contract Margin Trading

By Aislinn Keely

Kalshi on Tuesday asked the U.S. Commodity Futures Trading Commission to sign off on a framework for allowing certain users to trade with borrowed funds, in a move aimed at drawing more institutional activity to the prediction market platform.

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GOP Sen. Seeks Don Jr., Hunter Biden Biz Dealings Probes

By Rae Ann Varona

Sen. John Curtis urged Senate Judiciary Committee leaders to subpoena Donald Trump Jr. and Hunter Biden to testify about past business dealings with foreign individuals and entities, citing reports of a Russian oligarch and Vladimir Putin associate gifting the wedding after-party of President Donald Trump's oldest son in May.

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Coinbase Halts Mich. Sports Offerings Amid Litigation

By Alex Lawson

Coinbase has agreed to pull its sports event contracts from Michigan while the Sixth Circuit untangles a web of litigation over the legality of prediction market platform sports offerings across two other states.

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Analysis

4 Flashpoints In FDIC's Bid To Revamp Bank Merger Reviews

By Jon Hill

The Federal Deposit Insurance Corp.'s new plan to overhaul its bank merger review process is aimed at delivering faster, more predictable decisions on deals, but some of its key provisions could spark friction as banks and their critics weigh in over the coming weeks.

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SEC E-Delivery Plan Draws Access Concerns, Enviro Praise

By Jessica Corso

State regulators, labor unions and at least one member of Congress are among those urging the U.S. Securities and Exchange Commission to rethink a proposal that would allow issuers and market intermediaries to default to electronic delivery of investor documents, while Wall Street groups and environmental advocates praised the measure.

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DOJ Says Fired NCUA Members Aren't Like Fed Officials

By Katryna Perera

The U.S. Department of Justice is urging the D.C. Circuit to reverse a district court order reinstating ousted National Credit Union Administration board members, arguing Congress didn't impose presidential removal restrictions on the NCUA and that the agency isn't analogous to the Federal Reserve.

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Commerce On The Lookout For Polysilicon Stockpiling

By Jack McLoone

The U.S. Department of Commerce is looking to prevent the stockpiling of imported polysilicon and derivative products ahead of tariffs and price floors that will come into effect in December, it said in new rules Tuesday.

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SEC Fines Broker-Dealer Over System Security Failures

By Sarah Jarvis

The U.S. Securities and Exchange Commission on Tuesday ordered OTC Link LLC to pay $575,000 over allegations that the New York-based broker-dealer did not establish and enforce policies to ensure the security of the technology underpinning one of its alternative trading systems, despite several citations from examiners.

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OppFi SPAC Investors Get OK For $13M Post-IPO Flop Deal

By Katryna Perera

The Delaware Chancery Court on Tuesday approved a $13 million settlement to end litigation accusing special purpose acquisition company FG New America Acquisition Corp. and several of its executives and directors of overselling the value of merger target Opportunity Financial, whose stocks plummeted by some 80% after the take-public transaction.

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Binance Plugs $100M Into Latham-Led Blockchain Co. Circle

By Jade Martinez-Pogue

Global blockchain ecosystem Binance on Tuesday revealed that it has extended its strategic partnership with Circle Internet Group, which is advised by Latham & Watkins LLP, in a deal that includes a $100 million equity investment in Circle.

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Series

Fintech Regulator Outlook: 5 Lessons From Minnesota

Minnesota's recent cryptocurrency kiosk ban and virtual currency custody rules hold several broad compliance lessons: Digital asset companies must map regulated activities, strengthen third-party oversight and engage regulators early to innovate responsibly, says Deputy Commissioner of Financial Institutions Mike Crow at the Minnesota Department of Commerce.

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The Preemption Gap In Prediction Market High Court Petitions

The Supreme Court is considering three certiorari petitions following a split in prediction market litigation between the Third and Ninth circuits, but one of the petitions would not allow the court to reach the express preemption question, which would leave the dispute half-resolved, says Jordan Garman at Withers.

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Tips From Apex Ruling On Handling Workers' Public Criticism

A National Labor Relations Board judge’s recent finding that Apex Fintech Services illegally reined in an employee’s public criticism on LinkedIn should caution employers that overbroad policies and reflexive responses may not only fail to defend the company’s reputation, but compound risks of federal labor charges, say attorneys at Krevolin Horst.

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Tarter Krinsky Data Breach May Have Affected Health Info

By Andrea Keckley

Tarter Krinsky & Drogin LLP said in a letter this month that a data breach last year may have compromised protected health information the firm possessed due to its representation of an unnamed healthcare provider.

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'I'm Tired Of This': Judge Scolds Atty In Romantasy Suit

By Theresa Schliep

A New York federal judge has reprimanded counsel for a writer in a failed copyright infringement lawsuit over the "Crave" book series, insisting the plaintiff answer all questions in a deposition over attorney fees and writing that she was "tired of this" and "indeed being jerked around."

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Goldstein Not Leaving Prison Any Time Soon, 4th Circ. Rules

By Jeff Overley

The Fourth Circuit balked late Wednesday at freeing Tom Goldstein from prison as he fights felony convictions, and it rejected fast-track review of the renowned appellate advocate's trial, indicating he'll likely spend substantial time behind bars even if his appeal succeeds.

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Analysis

Newman's Roadblocks Guide Judicial Conduct Reform Bill

By Dani Kass

The Judicial Conduct and Disability Act has worked well in allowing the judicial branch to govern itself for nearly 50 years, but the ongoing suspension of Federal Circuit Judge Pauline Newman has exposed gaps that could be addressed with newly introduced legislation, attorneys say.

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Senate Confirms Abbott Aide To Texas Federal Bench

By Courtney Bublé

The Senate voted 50-47, along party lines, on Wednesday to confirm Angela Colmenero, deputy chief of staff to Texas Gov. Greg Abbott, to serve on the Southern District of Texas.

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Fed. Panel At Standstill Over ABA Law School Accreditor Role

By Emma Cueto

A key U.S. Department of Education committee deadlocked Wednesday over whether the American Bar Association council responsible for approving law schools should continue as a federally recognized accreditor, tabling the issue until Thursday after different proposals failed to win majority support.

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