Utah Sues Kalshi, Susquehanna For Violating Gambling Ban

By Sarah Jarvis

Utah sued Kalshi, its related entities and Susquehanna International Group in state court Tuesday over a "brazen pattern of unlawful conduct" by offering sports event contracts that allegedly violate the state's constitutional ban on gambling, after the Tenth Circuit declined to shield Kalshi from Utah gaming regulators last month.

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Polymarket Calls Ohio's Gaming Enforcement Unconstitutional

By Craig Clough

Polymarket has sued Ohio officials in federal court to stave off an enforcement action under the state's gambling laws, arguing its sports event contracts are under the exclusive jurisdiction of the U.S. Commodity Futures Trading Commission and that the state's gaming regulations unlawfully discriminate against interstate commerce.

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UK Wants Apple To Face More Competition For Digital Wallets

By Matthew Perlman

Britain's competition enforcer proposed changes Tuesday that would require Apple to give rival payment services access to iPhones' contactless technology on more viable commercial terms, in an effort to boost competition and spur innovation.

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Analysis

CFPB's Debanking Push Puts Enforcement Reset To The Test

By Jon Hill

The Consumer Financial Protection Bureau is pledging to crack down on allegedly discriminatory debanking practices, but this enforcement initiative could put the agency on a collision course with both the limits of its authority and its commitment to avoiding "novel legal theories."

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CFTC's Selig Says Agency Is Building AI To Police Markets

By Jessica Corso

U.S. Commodity Futures Trading Commission Chairman Michael Selig spoke to an audience in Washington, D.C., Tuesday about his agency's use of artificial intelligence, whether regulations adopted in the wake of the 2008 financial crisis had gone "too far" and how he is pressing ahead with crypto rules despite Congress' inability to pass regulations before the midterm elections.

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Conn. Man Admits To Gambling Away Crypto Investors' Money

By Brian Steele

A Connecticut man has pled guilty to multiple federal criminal charges that he scammed cryptocurrency investors and gambled away more than $1.1 million of their money, court records show.

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Brief

3 Firms Steer $1.97B Tradeweb, Trumid Credit Trading Deal

By Al Barbarino

Tradeweb Markets Inc. has agreed to acquire credit trading marketplace Trumid Holdings for approximately $1.97 billion, as the fixed-income trading platform looks to expand its presence across the bond life cycle.

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Dissecting Dodd's, Gensler's Prediction Market Amicus Briefs

Former Sen. Chris Dodd and former U.S. Commodity Futures Trading Commission Chairman Gary Gensler's recent amicus briefs in support of New Jersey's petition for U.S. Supreme Court review of Kalshi v. Flaherty draw on legislative history to counter the CFTC's claim of federal preemption over the prediction markets, says Trace Schmeltz at Steptoe.

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Kagan: High Court 'Blinded Itself' To Election Ruling Effects

By Katie Buehler

U.S. Supreme Court Justice Elena Kagan criticized her conservative colleagues' approach to deciding election law cases Tuesday, saying they often rule without considering the real-world consequences of their decisions. 

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Retired Judges Say DOJ's Ethics Complaint Is Meritless

By Courtney Bublé

A coalition of 61 retired federal judges has admonished the U.S. Department of Justice for filing a complaint against federal judges in Minnesota for speaking to a newspaper about the Trump administration's immigration crackdown in their state.

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Polsinelli Seeks Sanctions For 'Knowingly False' IP Suit

By Elliot Weld

Law firm Polsinelli PC has asked a Tennessee federal judge to sanction a medical device company for advancing what it says were "knowingly false and materially incomplete" positions in a suit accusing the firm of pursuing bad faith patent infringement claims on behalf of a client.

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'Petulant' Attorney Behavior Requires New Trial, 5th Circ. Says

By Cara Salvatore

The Fifth Circuit ordered a new trial Friday for a woman who was halted while speaking at a Louisiana local council meeting, saying defense lawyers for two council members threw "a skunk into the jury box" with a bevy of improper maneuvers.

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Feds Offer Up-Front Payments For Fraud Whistleblower Tips

By Lauren Berg

The U.S. Department of Justice on Tuesday announced the creation of a whistleblower incentive program offering up-front monetary awards for tips that lead to criminal fraud charges.

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Atty Used Legal Cred To Prop Up Ponzi Schemes, DOJ Says

By David Aaro

A Florida attorney was arrested Tuesday on charges of using his legal bona fides to help run two Ponzi schemes that swindled investors out of nearly $2 million, according to the U.S. Department of Justice.

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Ex-NOLA Injury Atty Gets 32 Months For Staging Crashes

By Christine DeRosa

A former New Orleans personal injury attorney has been sentenced to 32 months in prison for his role in a scheme to fake vehicle accidents with tractor trailers and other commercial vehicles so he could pursue lawsuits and extract settlements.

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