Kalshi's Contracts 'Sound Like A Bet,' 9th Circ. Judge Says

By Dorothy Atkins

A Ninth Circuit panel appeared open Friday to preliminarily blocking Kalshi and Robinhood from offering sports contracts on tribal land, with one judge saying Kalshi's contracts "sound like a bet" subject to Native American gambling laws and another saying it "wouldn't be so unreasonable" to exclude tribes from federal oversight in this area.

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Crypto Firms Urge CFTC To Tailor Rules, CME Urges Caution

By Aislinn Keely

Cryptocurrency industry groups and firms are urging the U.S. Commodity Futures Trading Commission to make regulatory tweaks to ensure blockchain-based financial products aren't burdened by unsuitable requirements of traditional registration categories, while some traditional finance players told the agency to tread carefully as it considers deregulation for fintech businesses.

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Visa Must Face Claims Of Monetizing Child Sex Abuse Images

By Bonnie Eslinger

Visa must still face allegations that the company knew about and profited from child sexual abuse material on Pornhub under a decision by a California federal judge, who in a separate ruling tossed the suit's claims against the hedge fund lenders who backed Pornhub's parent company.

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Crypto Firm Circle Gets Final OCC OK For National Trust Bank

By Sydney Price

Stablecoin issuer Circle said Friday that it received full approval from the Office of the Comptroller of the Currency for a national trust charter to integrate further into the banking system despite pushback from banking lobbyists.

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CoinDeal Architects Sentenced In $45M Fraud Case

By Katryna Perera

A Nevada man and a Canadian and British national were collectively sentenced to nearly 15 years in prison for scamming about 10,000 investors between 2018 and 2022 in a $45 million CoinDeal investment fraud scheme.

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Brief

White House Accuses Dems Of Sitting On SEC, CFTC Noms

By Jessica Corso

The White House claims that it is waiting on word from Senate Democrats before it can fill longstanding vacancies at the U.S. Securities and Exchange Commission and U.S. Commodity Futures Trading Commission, saying it has asked for a list of names and one has not been provided.

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Intuit Hid True Status Of TurboTax Business, Investor Alleges

By Rae Ann Varona

Intuit touted a "momentum" across its businesses while hiding that its TurboTax business was, in reality, poorly performing, an investor alleged in a proposed class action filed Friday in California federal court that also accuses the financial software company's CEO of fraudulently enriching himself by more than $36 million.

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9/11 Families Cleared To Pursue Iran-Linked Crypto Assets

By Hope Patti

Families of 9/11 victims seeking to satisfy default judgments against Iran can move forward with efforts to seize $344 million in frozen Tether cryptocurrency assets that U.S. sanctions authorities linked to the country, a New York federal court ruled.

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Kalshi Fights 'Extraordinary' Bid To Halt Wash. Operations

By Rachel Riley

Counsel for Kalshi pressed a Washington state court Friday to reject the state's request for a court order blocking the prediction market from operating in Washington, arguing its attorney general's office is seeking an injunction "far broader" than orders issued in similar litigation in Nevada and Michigan courts.

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CFPB, Union Seek Pause On Review Of Layoff Plan

By Sarah Jarvis

The Trump administration and a federal labor union that represents staffers at the Consumer Financial Protection Bureau have jointly asked a D.C. federal court to pause weighing a response to the administration's plan to lay off about half of the agency's remaining workforce, arguing the president's nominee to head the agency should be given the chance to review the plan if he is confirmed.

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Brief

Hut 8's $2.3M Investor Deal Wins Initial Approval In NY

By Katryna Perera

A New York federal judge has granted the first green light to a $2.3 million settlement reached between Hut 8 Corp. and investors, which will resolve claims that the bitcoin miner overpaid for a company with severe operational issues and misled investors about energy and connectivity failures at a Texas facility that was part of the merger.

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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 lawyer Ian Rosenblatt launch legal action against music mogul Simon Cowell, Boohoo face a fresh investor claim after previously facing allegations that it feigned ignorance of labor abuses in its supply chain, and an ex-Tory MP and his chief of staff sued by their former employer. Here, Law360 looks at these and other new claims in the U.K.

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Linqto Gets OK To Pay Off Ch. 11 Loan With Securities

By Rick Archer

A Texas bankruptcy judge Friday gave investment platform Linqto permission to transfer its Chapter 11 loan to a customer recovery fund and pay off the balance with securities.

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AI Governance Tips For Avoiding Securities Suits

A recent securities class action in California federal court against lending platform Upstart highlights how statements about artificial intelligence are increasingly being scrutinized not only by regulators, but also by shareholders, meaning companies should ensure oversight frameworks keep pace with the technology, say attorneys at Akerman.

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Roundup

The Most Talked-About Supreme Court Decisions Of 2026

This term, 11 U.S. Supreme Court decisions quickly became hot topics among Law360's guest writers.

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Over 2,600 Attys, Professionals Urge Blocking Blanche As AG

By Emma Cueto

More than 2,600 lawyers and legal professionals on Friday urged lawmakers to oppose the nomination of Todd Blanche for attorney general, saying Blanche's dismissal of the idea that the U.S. Department of Justice should be independent from the White House and his record as interim attorney general make him unfit for the role.

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HHS' Ex-GC Committed Ethics Violations, Watchdog Says

By Craig Clough

A watchdog organization filed a complaint Thursday with the U.S. Department of Health and Human Services' Office of Inspector General seeking an investigation into former HHS general counsel Michael Stuart over alleged federal ethics violations, saying it appears he failed to divest from prohibited financial holdings and made prohibited investment purchases after taking office.

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Atty's 'Fabricated Quotes,' 'Reliance on AI' Panned By Judge

By Craig Clough

A New York magistrate judge struck a brief Friday filed by an attorney representing a client suing Roc Nation after finding that it included numerous fabrications that may have resulted from artificial intelligence hallucinations, noting that the attorney has been "repeatedly" sanctioned or warned by multiple courts for the same behavior. 

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11th Circ. Refers Atty For Discipline Over Suspected AI Entries

By Katherine Smith

The Eleventh Circuit on Friday referred an attorney for potential discipline over a brief he filed in a client's retaliation lawsuit against the Florida Department of Corrections, ruling that the attorney failed to explain how several defective quotes and citations ended up in the brief.

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Baker Donelson Wins $45K From Tenn. Firm Over AI Misuse

By Lynn LaRowe

Tennessee personal injury firm Reaves Law Firm PLLC must pay more than $45,000 in attorney fees to Baker Donelson Bearman Caldwell & Berkowitz PC over Reaves Law's misuse of artificial intelligence in a federal malpractice suit against Baker Donelson.

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Davis Wright Atty Hit With Sanctions After Winning Sanctions

By Jeff Overley

After defending six-figure sanctions of plaintiffs lawyers for "a reckless course of prolonging litigation," a Davis Wright Tremaine LLP attorney is facing his own six-figure sanctions, with a California magistrate judge finding he "unnecessarily burdened" opposing counsel despite warnings dating back years about "improper litigation tactics."

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Oura Health Swaps In Sidley For Quinn After Ex-CEO's DQ Bid

By Dorothy Atkins

A California federal judge granted Oura Health's request to swap in Sidley Austin LLP for Quinn Emanuel Urquhart & Sullivan LLP in breach-of-contract litigation by the fitness tracker company's former CEO after the ex-executive sought to disqualify Quinn Emanuel for purportedly having access to his confidential data.

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NY Nonprofits Want ICE Docs On Courthouse Arrest Policies

By Stewart Bishop

Nonprofit groups suing U.S. Immigration and Customs Enforcement over courthouse arrest policies pressed a Manhattan federal judge to force the agency to produce documents and testimony concerning arrests it conducts outside immigration courts after the agency's revised policy concerning such arrests in Manhattan was put on hold.

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Brooklyn Legal Aid Provider's Union Sets Strike Deadline

By Andrea Keckley

The union for the Brooklyn Defender Services has voted to authorize a strike if it doesn't reach an agreement with managers by the morning of July 16.

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11th Circ. Upholds Airline's Win In COVID Discrimination Case

By Irene Spezzamonte

A group of workers for a commercial airline and a related entity failed to support their claims that the companies' COVID-19 pandemic-era policies discriminated against their religious beliefs, the Eleventh Circuit ruled Friday, while sharply criticizing their attorney for his misuse of artificial intelligence.

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UChicago Law Takes On AI With Phone And Laptop Ban

By Matt Perez

The University of Chicago Law School will prohibit the use of electronic devices such as laptops, tablets and phones in all first-year law school sections and courses as part of new policies dictating the use of artificial intelligence at the school.

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4 Takeaways From Probe Of Feb. 2025 Calif. Bar Exam Fiasco

By Emily Sawicki

Poor implementation of the February 2025 California Bar Exam resulted in millions of dollars in extra costs and negatively affected "a significant portion" of test-takers, according to a new report by the California State Auditor.

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Roundup

GC Cheat Sheet: The Hottest Corporate News Of The Week

By Michele Gorman

Among the stories in corporate legal news you may have missed in the past week: The SEC chair said this year's corporate proxy season saw none of the "dire predictions" some had forecast, and in a recent survey, hundreds of law firm leaders said they're increasingly losing clients, citing problems in delivering their legal services.

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Law360's Legal Lions Of The Week

By Kevin Penton

Greene Broillet & Wheeler LLP and Ludd & Ludd lead this week's edition of Law360 Legal Lions, after a San Diego jury ordered Hyatt to pay $15.5 million over the death of a guest who was left uncontacted for a day after failing to check out.

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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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