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.
Law360
Fintech
MONDAY, SEPTEMBER 28, 2026 Law360 iOS App Law360 Android App Follow Law360 on Facebook Follow Law360 on LinkedIn Follow Law360 on Twitter

TOP NEWS

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.

Read full article » | Save to favorites »

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.

Opinion attached | Read full article » | Save to favorites »

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.

Opinion attached | Read full article » | Save to favorites »

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.

Read full article » | Save to favorites »

POLICY & REGULATION

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. 

Opinion attached | Read full article » | Save to favorites »

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.

1 document attached | Read full article » | Save to favorites »

ENFORCEMENT & COMPLIANCE

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.

Complaint attached | Read full article » | Save to favorites »

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.

Order attached | Read full article » | Save to favorites »

LITIGATION

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. 

Read full article » | Save to favorites »

DEALS

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.

Read full article » | Save to favorites »

EXPERT ANALYSIS

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.

Proposed Rule attached | Read full article » | Save to favorites »

LEGAL INDUSTRY

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.

Read full article » | Save to favorites »

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.

Read full article » | Save to favorites »

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.

Read full article » | Save to favorites »

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.

Order attached | Read full article » | Save to favorites »

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.

Complaint attached | Read full article » | Save to favorites »

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.

Read full article » | Save to favorites »

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.

Response attached | Read full article » | Save to favorites »

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.

Notice attached | Read full article » | Save to favorites »

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.

Read full article » | Save to favorites »

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.

Read full article » | Save to favorites »

Dark blue promo that reads 2026 Regional Powerhouses dark blue promo that reads 2026 Rising Stars

COMPANIES IN TODAY'S NEWS

Anthropic PBC

AstraZeneca PLC

BTI Consulting Group Inc.

Block Inc.

Cardinal Health Inc.

Cloudflare Inc.

Compass Lexecon LLC

Coupang, Inc.

DraftKings Inc.

Duke University

Eli Lilly & Co.

Enterprise Holdings Inc.

FanDuel Inc.

Glencore PLC

GoDaddy Inc.

Google LLC

IMDb.com Inc.

Instagram Inc.

Inter Tribal Council of Arizona Inc.

Kashi Co.

Kellogg Co.

LexisNexis Legal & Professional

LexisNexis Risk Solutions Inc.

Liberty Mutual Insurance Group

London Stock Exchange Group PLC

Lumen Technologies Inc.

Mediterranean Shipping Co. SA

Meta Platforms Inc.

NVIDIA Corp.

Nasdaq Inc.

National Collegiate Athletic Association

Nektar Therapeutics

News Corp.

Old Glory Bank

OpenAI OpCo LLC

Pfizer Inc.

Priority Technology Holdings Inc.

Proof

RELX PLC

Red Bull GmbH

Royal Caribbean Cruises Ltd.

Screen Actors Guild-American Federation of Television & Radio Artists

Searchlight Capital Partners LP

Skydance Media LLC

Space Exploration Technologies Corp.

Takeda Pharmaceutical Co. Ltd.

Tesla Inc.

The Hershey Co.

The J. M. Smucker Co.

The Kraft Heinz Co.

The Travelers Cos. Inc.

TikTok Inc.

University of Miami

Walmart Inc.

Warner Bros. Discovery Inc.

Warner Bros. Entertainment Inc.

Zimmer Biomet Holdings Inc.

LAW FIRMS IN TODAY'S NEWS

Addleshaw Goddard

Ballard Spahr

Benesch

Bottaro Law Firm

Brabners LLP

Browne Jacobson LLP

Campbell Johnston

Carpmaels & Ransford

Clarke Willmott

Clyde & Co

Cohen Milstein

Covington & Burling

DAC Beachcroft

DLA Piper

DWF LLP

Demeo LLP

Duane Morris

Dudley DeBosier

Dunn Isaacson Rhee

Emery Reddy

Federman & Sherwood

Fell Law PC

Flannery Georgalis

Gibson Dunn

Gordon Rees

Greenberg Traurig

Hill Dickinson

Hogan Lovells

Hughes & Coleman

Jenner & Block

John Foy & Associates

Jones Day

Keches Law Group

Keller Rohrback

Kennedys Law LLP

Kirkland & Ellis

Latham & Watkins

Lowenstein Sandler

Maslon LLP

McDermott Will & Schulte

Milbank LLP

Mills & Reeve

Morrison & Foerster

O'Melveny & Myers

Paris Smith LLP

Paul Weiss

Pinsent Masons

Polsinelli PC

Proskauer Rose

Quinn Emanuel

RWK Goodman

Rainwater Holt

Reed Smith

Russell-Cooke

Schlam Stone

Selendy Gay

Silver Golub

Skadden Arps

Spencer Fane

Spencer West LLP

Sullivan & Cromwell

Tarter Krinsky

Tor Ekeland Law

Venable LLP

Ventura Law (Danbury, CT)

Weil Gotshal

Whalen Law Office

Wiley Rein

Wilson Sonsini

Withersworldwide

gunnercooke LLP

GOVERNMENT AGENCIES IN TODAY'S NEWS

California Civil Rights Department

Commodity Futures Trading Commission

Companies House

Consumer Financial Protection Bureau

Executive Office of the President

Federal Deposit Insurance Corp.

Federal Reserve System

Financial Conduct Authority

Financial Crimes Enforcement Network

Indiana Gaming Commission

Internal Revenue Service

Montana Department of Revenue

National Credit Union Administration

New York Attorney General's Office

Office of the Comptroller of the Currency

Ohio Attorney General's Office

Ohio Casino Control Commission

Tennessee Attorney General's Office

U.S. Army

U.S. Court of Appeals for the District of Columbia Circuit

U.S. Court of Appeals for the Fifth Circuit

U.S. Court of Appeals for the Ninth Circuit

U.S. Court of Appeals for the Sixth Circuit

U.S. Department of Justice

U.S. Department of the Treasury

U.S. District Court for the District of Columbia

U.S. District Court for the District of Massachusetts

U.S. District Court for the District of Minnesota

U.S. District Court for the District of Oregon

U.S. District Court for the Middle District of Florida

U.S. District Court for the Middle District of Tennessee

U.S. District Court for the Southern District of California

U.S. District Court for the Southern District of New York

U.S. Securities and Exchange Commission

U.S. Senate

U.S. Supreme Court

UK High Court

US Office of Management and Budget