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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Roundup

UK Litigation Roundup: Here's What You Missed In London

By Laura Stewart Liberty

The past week in London has seen Michelle Mone sued by PPE Medpro, Broadfield Law sued by the founders of an international aid company, and litigation funder Fortress bring a claim against Edwin Coe and businesses the law firm represented in a cartel claim.

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Chicago IP Duo Leave Winston & Strawn For King & Spalding

By Tracey Read

King & Spalding LLP has added two more Winston & Strawn LLP partners who will reunite with 15 former colleagues who joined the firm earlier this year.

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Q&A

This Pride Month, LGBTQ+ Bar Leader Talks Community, Hope

By Emma Cueto

In 2026, the LGBTQ+ Bar is focused on expanding programs, especially those focused on law students and younger attorneys, and building up community ties at a time of growing legal threats to LGBTQ people.

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Insurer Says NJ Atty Sank Coverage By Not Cooperating

By Christine DeRosa

Hanover Insurance Co. has asked a New Jersey federal court for a declaratory judgment finding that it doesn't have to defend an attorney and his firm in a suit over a real estate deal gone wrong, telling the court that the attorney refuses to cooperate with the firm it hired to defend him in the underlying suit.

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Trump Reportedly Mulls FCC Attorney For DOJ Antitrust Chief

By Matthew Perlman

President Donald Trump is reportedly preparing to nominate the Federal Communications Commission's general counsel to serve as the top antitrust official in the U.S. Department of Justice.

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Judge Stays Jackson Walker RICO Suit Over Sorrento Ch. 11

By Clara Geoghegan

A California federal judge has paused Sorrento Therapeutics shareholders' litigation after a Texas bankruptcy court ruled they lacked standing to pursue racketeering claims over a former Jackson Walker attorney's relationship with the judge who initially oversaw the biotech company's Chapter 11.

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Roundup

GC Cheat Sheet: The Hottest Corporate News Of The Week

By Michele Gorman

A Connecticut federal judge told attorneys to challenge clients who demand use of generative artificial intelligence tools to conduct legal research, and a Kansas federal judge blocked a state law imposing requirements on proxy advisers' voting recommendations. These were among the stories in corporate legal news you may have missed in the past week.

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Scientologists Want 'Ignored' Boies Schiller AI Errors Review

By Emily Sawicki

The Church of Scientology has asked the California Supreme Court to review an appellate order that didn't impose sanctions on Boies Schiller Flexner LLP for filing a brief containing artificial intelligence-generated citation errors in a harassment and retaliation suit pending against the church.

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High Court To Issue Big Decisions In Term's Final Days

By Katie Buehler

As the U.S. Supreme Court enters the final days of its term, the justices still have several major decisions to issue, including some concerning birthright citizenship, the president's power to remove independent agency officials, transgender athletes and election rules. 

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Law360's Legal Lions Of The Week

By Kevin Penton

Clement & Murphy PLLC, Covington & Burling LLP and Bryan Cave Leighton Paisner LLP lead this week's edition of Law360 Legal Lions, after the U.S. Supreme Court handed Monsanto a win in its long-running battle over the labeling of alleged cancer risks of its bestselling weedkiller Roundup.

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Homebuilder Says Colo. Atty Took Its Info To Adversary Firm

By Rachel Konieczny

A Colorado lawyer who represented a homebuilding company for more than a decade stole tens of thousands of the company's files when he went to work for a law firm that is a regular adversary to the homebuilder, the company alleged in Colorado state court. 

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King & Spalding Insists On Fraud Suit Pause Amid 'Conflicts'

By Brian Steele

King & Spalding LLP has urged a Connecticut state court to keep its involvement in a $300 million fraud lawsuit on hold while it challenges the denial of its attorneys' withdrawal from representing several individual defendants, citing "serious, nonwaivable conflicts of interest" that will prevent the firm from proceeding.

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PACER Fees Will Rise To Fund Cyber Defense Upgrades

By Bonnie Eslinger

The federal judiciary announced Friday it will temporarily increase the fees for electronic access to court records to pay for a potential $800 million upgrade that will modernize and strengthen court records systems PACER and CM/ECF, an upgrade it previously said is needed to respond to escalating cyberattacks.

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Analysis

Bosch DOJ Declination Shows Benefits Of Early Self-Reporting

By Sarah Jarvis

The U.S. Department of Justice's recent decision not to prosecute German technology company Bosch for exporting products to a sanctioned Chinese company signals to businesses that prompt self-reporting to the government can help them secure a declination even for serious national security offenses.

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In Case You Missed It: Hottest Firms And Stories On Law360

For those who missed out, here's a look back at the law firms, stories and expert analyses that generated the most buzz on Law360 last week.

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Messner Reeves Says $8.3M Fraud Suit Repeats Utah Case

By Zach Dupont

Colorado law firm Messner Reeves LLP has claimed in federal court that a lawsuit accusing it of stealing more than $8 million as part of a fraudulent loan scheme should be dismissed because the plaintiffs' Racketeer Influenced and Corrupt Organizations Act claims were dismissed by another court with prejudice.

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