Analysis

'A Moral Hazard': Kalshi Drug Trial Bets Spark Ethical Qualms

By Chris Villani

Kalshi Inc. opening prediction markets for clinical drug trials has raised a host of compliance concerns for attorneys, including the risk of insider trading among the wide swaths of stakeholders in the know about the trials, as well as the danger of compromising the trials themselves.

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CFTC Proposes Rules To Codify Prediction Market Authority

By Aislinn Keely

The U.S. Commodity Futures Trading Commission on Friday took steps to codify its authority over sports, politics and culture event contracts, in a move to affirm the agency's view that prediction markets are under its "exclusive jurisdiction" and beyond the reach of states.

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Trump Picks Panel To Consider Claims Against Fed's Cook

By Jon Hill

President Donald Trump has established a committee to investigate mortgage fraud allegations against Federal Reserve Gov. Lisa Cook and to determine if they provide sufficient grounds to fire her, according to a memo released Friday by the White House.

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Warren Presses Fed For Details Of Early SVB Report Access

By Jon Hill

The U.S. Senate Banking Committee's top Democrat is calling on Federal Reserve officials for answers after some outside experts were given an early look at a recent independent report on Silicon Valley Bank's collapse, questioning who authorized the access and how recipients were chosen.

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Conn. Says CFTC Rehashing Failed Sports Contract Position

By Ganesh Setty

Connecticut has criticized the Commodity Futures Trading Commission's bid in Connecticut federal court to block the state from regulating prediction market platforms' sports-related offerings, noting the same presiding judge already denied Kalshi's motion seeking such relief.

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Payday Lender Says Baltimore Oversteps Its Power With Suit

By Katryna Perera

Dave Inc. has pushed back on a lawsuit brought by the city of Baltimore, saying the municipality has exceeded its powers by using a local ordinance to accuse the payday lender of charging excessive interest rates on its products.

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Del. Justices Back ATG In Empery Proxy Fight

By Jarek Rutz

The Delaware Supreme Court has upheld a Chancery Court ruling requiring digital asset company Empery Digital Inc. to allow activist investor ATG Capital Opportunities Fund LP's nine board nominees to stand for election, rejecting the company's challenge less than a week before its annual meeting Oct. 14.

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DraftKings Gets Hit With Seminole Tribe Sports-Betting Suit

By Joyce Hanson

The Seminole Tribe of Florida has sued DraftKings in state court on claims that the Boston-based sports gambling company and its chief executive are running an illegal betting operation that diverts regulated bets and revenue into an "underground" sportsbook.

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Taiwanese Tech Co. Asks To Toss Device Update Patent Suit

By Elliot Weld

Taiwanese technology-maker Getac Holdings Corp. has asked a Texas federal judge to dismiss a patent infringement suit brought by Media Key LLC over a patent covering methods of remotely updating smart device applications, saying the suit was nothing more than a threadbare pleading that didn't connect Getac to the patent.

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Where The 3 Prediction Market Appellate Rulings Diverge

Although the recent Third, Sixth and Ninth Circuit opinions concerning prediction markets overlap on some issues, they differ on key statutory questions, deepening a circuit split over both the classification of sports event contracts and the scope of federal preemption, says Levi Giovanetto at Sheppard.

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Series

Calif. Banking Brief: All The Notable Legal Updates In Q3

California's financial regulators spent the third quarter of 2026 focusing on consumer protection enforcement at home while resisting federal efforts to displace state oversight — reinforcing the state's intention to shape the compliance landscape for institutions operating within its borders despite federal deregulatory trends, say attorneys at Ropes & Gray.

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Nelson Mullins Sued In SC Over October Data Breach

By Jake Maher

Nelson Mullins Riley & Scarborough LLP has been hit with a proposed class action in South Carolina federal court over a data breach that took place in early October.

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Justices Won't Eye 'Weaponized' Sanctions Of Election Attys

By Jeff Overley

Despite outrage among Ninth Circuit conservatives, the U.S. Supreme Court declined Tuesday to scrutinize six-figure sanctions of lawyers who challenged Arizona election protocols, leaving intact discipline designed to "send a message."

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Reddit Fights Proskauer's 'Hot Potato' AI Client Bid In IP Suit

By Dorothy Atkins

Reddit Inc. has urged a New York federal judge to block its former law firm Proskauer Rose from defending Perplexity AI in Reddit's suit over alleged data scraping used to train artificial intelligence models, arguing the firm can't represent Perplexity after dropping Reddit as a client like ‌a "hot potato."

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Pa. Firm Can't Toss Uber's RICO Claims Over Insurer Payouts

By Linda Chiem

A Pennsylvania federal judge allowed Uber to pursue Racketeer Influenced and Corrupt Organizations Act claims alleging a Philadelphia personal injury firm schemed with healthcare providers to fabricate medical records and inflate accident claims involving Uber and FedEx drivers, saying Uber doesn't lose standing just because its insurer paid its legal fees in underlying litigation.

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DOJ Cites Privacy Concerns In Rejecting NM Epstein Files Bid

By Courtney Bublé

The U.S. Department of Justice has rebuffed the state of New Mexico's request for the unredacted Jeffrey Epstein files for its investigation into possible crimes at Epstein's Zorro Ranch, saying it would hinder law enforcement operations.

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Case Dropped Against Judge Accused Of Endorsing Violence

By Madison Arnold

Ethics charges against a Florida state court judge in Jacksonville alleging he made comments appearing to endorse violence, convey bias and demean individuals during several proceedings last year have been dropped.

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What The Justices Won't Hear: A Roundup Of Cert Denials

By Taylor Bowie

The U.S. Supreme Court declined to grant a writ of certiorari to another batch of applications Tuesday, including cases involving six-figure sanctions, wine shipment laws and overtime claims. 

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Catching Up With Delaware's Chancery Court

By Jarek Rutz

The Delaware Chancery Court last week saw stockholders challenge Nvidia Corp.'s roughly $20 billion deal with artificial intelligence chipmaker Groq Inc., Hertz Global Holdings Inc.'s electric vehicle strategy and more than $1.5 billion in Humana Inc. stock buybacks.

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