Kalshi Seeks Rehearing After 9th Circ. Loss

By Aislinn Keely

Kalshi on Wednesday asked the Ninth Circuit to rehear its dispute with Nevada regulators, arguing the appeals court miscast its sports event contracts as sports bets in an August opinion that cleared the way for the state's gaming regulators to pursue the prediction market platform.

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Crypto Org. Taps Prelogar To Back CFTC's Side In Perps Fight

By Aislinn Keely

A crypto policy group advocating for perpetual derivatives markets hired former U.S. Solicitor General Elizabeth Prelogar to pen a brief backing the U.S. Commodity Futures Trading Commission's approval of bitcoin perpetual contracts as the agency fights a challenge from the Chicago Mercantile Exchange.

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Kalshi Can't Keep Iowa Gaming Regulators At Bay

By Alex Lawson

An Iowa federal judge has declined to shield Kalshi from the state's gambling watchdog, voicing skepticism that the prediction market platform's sports event contracts should be federally regulated as swaps.

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Ringleader Pleads Guilty In $245M Crypto RICO Enterprise

By Joyce Hanson

The 22-year-old ringleader of an international conspiracy that used social engineering to steal more than $245 million in cryptocurrency has pled guilty in D.C. federal court for his role in building "a cybercrime empire," the U.S. Department of Justice said.

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Defunct Tax Startup CEO Charged In $13.3M Investor Fraud

By Gina Kim

The CEO of a defunct tax-compliance startup has been arrested on fraud charges based on allegations she defrauded investors out of more than $13 million by lying about her credentials and her company's revenues, the U.S. Department of Justice said Wednesday.

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Klarna Wants Out Of Investor Action Over Loan Risks

By Sydney Price

Payments company Klarna Group PLC has asked a New York federal court to dismiss it from an investor suit accusing it of damaging shareholders by failing to disclose losses associated with its "buy now, pay later" loans ahead of its 2025 initial public offering, saying its projections were neither inaccurate nor misleading.

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Labaton Reboots Whistleblower Practice With Ex-SEC Chair

By Jessica Corso

Investor-side firm Labaton Keller Sucharow LLP has tapped two former U.S. Securities and Exchange Commission veterans to lead a new practice representing whistleblowers before the SEC and other federal regulators, reviving a service that the firm provided five years ago.

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How 'Swap' Fight Underpins Prediction Market Enforcement

As courts around the country grapple with whether, and under what circumstances, event contracts qualify as swaps, federal enforcement authority hangs in the balance, with implications for companies that need to manage compliance risks during this period of legal uncertainty, say attorneys at Debevoise.

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ABA Study Shows 20% Of Attys Under Severe Mental Distress

By Tracey Read

About one-fifth of attorneys across the country meet moderate-to-extremely severe symptom thresholds for depression, anxiety and stress, according to the largest-ever study of mental health and well-being in the legal profession.

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Mass. Judge Sanctioned Over Handling Of ICE At Courthouse

By Julie Manganis

Massachusetts' highest court on Thursday sanctioned a judge over her handling of a case involving a defendant wanted by immigration agents in 2018, an incident that led to federal charges that were dismissed after the judge agreed to a disciplinary process.

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Ed Martin Reprimanded Over Unauthorized FBI Contacts

By Courtney Bublé

Last summer, when Ed Martin was still head of the weaponization working group at the U.S. Department of Justice, he was reprimanded after his team communicated with the FBI without authorization, according to recently released emails.

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2 At DOJ Sued Over Conn. Immigration Court Record Access

By Christine DeRosa

The American Civil Liberties Union Foundation of Connecticut has filed suit in Connecticut federal court challenging the Hartford Immigration Court's refusal to provide access to immigration court records.

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JPMorgan Aided Ex-Atty Kossoff's $18.5M Theft, Trustee Says

By Hailey Konnath

The Chapter 7 trustee representing bankrupt firm Kossoff PLLC on Wednesday sued JPMorgan Chase Bank NA, claiming the bank helped the firm's principal steal at least $18.5 million from clients, and it "should be made to account."

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Analysis

Executive Privilege Questions Cloud Congressional Probe Prep

By Phillip Bantz

As corporate leaders brace for the possibility of Democrats retaking control of Congress and launching aggressive investigations into the Trump administration's dealings with a vast array of companies, attorneys say a U.S. Justice Department opinion on executive privilege could complicate the probes.

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DOJ Urges High Court To Revisit 9th Circ.'s Bar Of Nev. US Atty

By Madison Arnold

The Justice Department has asked the U.S. Supreme Court to revisit a recent Ninth Circuit ruling disqualifying the Trump administration's top federal prosecutor in Nevada, calling it a decision that imposes "ongoing confusion" in the executive branch.

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Jay-Z Can't Undo Buzbee's Win In Rapper's Defamation Suit

By Y. Peter Kang

A California state appeals court has refused to revive claims that Texas attorney Tony Buzbee defamed and extorted music superstar Jay-Z by roping him into a sexual abuse suit against Sean "Diddy" Combs, saying the case was properly thrown out under California's free speech statute.

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