Analysis

Prediction Market Regulators, Bad Actors In AI Arms Race

By Chris Villani

Artificial intelligence is playing an increasingly important role in policing prediction markets, and attorneys say that regulators and investigators are starting to effectively use the same technology that would-be bad actors have leveraged to try to score big with their bets.

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Kalshi Sports Contracts Aren't Financial Swaps, 6th Circ. Says

By Bonnie Eslinger

In a closely watched decision that exacerbates an existing circuit split, a Sixth Circuit panel on Friday rejected Kalshi's assertion that the sports-related transactions made on its platform should be considered federally regulated swaps and not conventional betting subject to state gambling laws.

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DC Circ. Backs Bitcoin Fog Crypto Mixer Conviction

By Aislinn Keely

The D.C. Circuit upheld the conviction of Bitcoin Fog operator Roman Sterlingov in a Friday opinion that found the government adequately tied his conduct to the D.C. venue and introduced sufficiently reliable forensic evidence to link him to the cryptocurrency mixing service.

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Feds' Stablecoin Review Committee Rules On The Horizon

By Aislinn Keely

The White House has completed its review of regulators' planned forms and procedures for reviewing and approving state-level stablecoin licensing frameworks, indicating the U.S. Treasury Department could soon circulate the rules.

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Ore. Judge Rejects CFPB Funding Cutoff Theory

By Jon Hill

An Oregon federal judge ruled Friday that the head of the Consumer Financial Protection Bureau cannot refuse to replenish the agency's funding, handing the Trump administration another loss on a now-suspended policy that almost shuttered the consumer watchdog last year. 

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Ind. Panel Rejects NCAA Call To Ban Pregame Player Bets

By Elaine Briseño

The Indiana Gaming Commission has unanimously rejected a request from the NCAA to ban pregame proposition bets on college players, saying the state Legislature is better suited to address the issue.

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CFTC Says Firm Ran $950M Global Forex Ponzi Scheme

By Carolina Bolado

Investment firm Cash FX Group SA told investors their money would be used to trade retail foreign currency contracts in a commodity pool but in reality operated a $950 million multilevel marketing Ponzi scheme, the Commodity Futures Trading Commission said.

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FDIC Orders 'Pro-America' Online Bank To Shore Up Finances

By Sarah Jarvis

The Federal Deposit Insurance Corp. has found Old Glory Bank, an online bank that bills itself as "pro-America" and liberty-focused, "significantly undercapitalized" and is directing it to take immediate corrective action.

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Roundup

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

By Megan Norcott

The past week in London has seen Glencore Energy sue a refinery for allegedly defrauding it out of more than $236 million worth of crude oil, the former CEO of ankle-tag maker Big Technologies file a defamation claim against the company, and property investment group Hunter Jones hit by a claim from the Financial Conduct Authority. 

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Roundup

Taxation With Representation: Kirkland, Latham, McDermott

By Zak Kostro

In this week's Taxation With Representation, Royal Caribbean invests billions in a joint venture with Sandals, Telix Pharmaceuticals buys ITM Isotope Technologies Munich, and Priority Technology makes a go-private deal with an investor group helmed by the company's chair and CEO.

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Negotiating The Scope Of The Stablecoin Customer ID Rule

Though comments on bank regulators’ proposed rule for stablecoin issuers under the Genius Act generally agree that oversight would help prevent illicit activity, agencies must reconcile disagreement over whether to extend customer identification requirements from issuers' primary-market relationships to secondary-markets activity, say attorneys at Ballard Spahr.

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Senior Lawyers Survey: Tell Us About Your Career

How are senior lawyers adapting to evolving career paths and emerging technologies? Share your perspective in this five-minute survey.

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Law360's Legal Lions Of The Week

By Kevin Penton

O'Melveny & Myers LLP and Reed Smith LLP lead this week's edition of Law360 Legal Lions, after the Ninth Circuit overturned a $140 million class verdict against CenturyLink, holding that the company had a reasonable interpretation of the Fair Credit Reporting Act.

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Arkansas Firm 5th To Seal PE Deal With Uplift Investors

By Tracey Read

Arkansas' largest personal injury law firm is the latest legal entity to ink a deal to take private equity investment using Uplift Investors' associated management services organization.

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AI Mishap Has Judge Questioning 'Our Collective Character'

By Julie Manganis

A California attorney was barred from representing the plaintiffs in a Massachusetts insurance coverage dispute and ordered to pay legal costs of up to $10,000 to opposing counsel, after a federal judge found he relied on "inaccurate and fictitious" case cites and holdings in three filings.

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Tarter Krinsky Faces Suit After Disclosing Data Breach

By Andrea Keckley

Tarter Krinsky & Drogin LLP maintained "intentional opacity" about a recently disclosed cybersecurity attack last year that may have compromised protected health information, a proposed class action alleged in New York federal court.

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A2J At The High Court: Gun Bans, Voting And Civil Remedies

By Marco Poggio

From the right to own semiautomatic rifles to the rules governing voter registration, the upcoming U.S. Supreme Court term will see the justices tackle a broad swath of constitutional and access to justice issues.

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Domino Foods Fights Paul Weiss DQ Bid In Price-Fixing MDL

By Madison Arnold

Domino Foods is pushing back on an attempt to disqualify its counsel from Paul Weiss Rifkind Wharton & Garrison LLP in a sugar price-fixing multidistrict litigation, arguing Hershey, J.M. Smucker and other food makers filed the motion as a "strategic attempt to gain tactical advantage" at a critical point in the dispute.

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Duane Morris To Settle Employee's Tax Withholding Claim

By Asha Glover

Duane Morris LLP has agreed to private mediation to settle a proposed class action by an employee who alleged that the firm failed to withhold taxes for workers who were misclassified as partners, according to a notice.

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GC Cheat Sheet: The Hottest Corporate News Of The Week

By Sue Reisinger

Wilson Sonsini topped a list of law firms that have alumni attorneys working at six of the country's most prominent tech companies. And general counsel at most large companies expect to increase their litigation budgets next year.

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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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