NY Accuses Polymarket Of Illegal Gambling Operation

By Aislinn Keely

New York sued Polymarket on Thursday alleging it runs an illegal gambling operation in the state through its sports prediction markets, the same day that Polymarket lodged its own suit accusing the state of intruding into the federal government's regulatory authority over derivatives trading.

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Apple Pay Antitrust Class Wins Cert. In Wallet Monopoly Suit

By Hailey Konnath

A California federal judge Wednesday certified a class of thousands of financial institutions in a suit accusing the company of monopolizing mobile wallet technology for its devices, even though some of the lead plaintiffs said they weren't going to pass transaction fees off to consumers.

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Fed Pitches Stablecoin Issuer Rules In Latest Genius Act Push

By Jon Hill

The Federal Reserve Board on Thursday proposed rules to set key prudential standards and other guardrails for stablecoin issuers under its oversight, rounding out an initial phase of rulemaking at the federal banking agencies to implement the U.S. stablecoin law known as the Genius Act.

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CFTC Allows Tokenized Investments, Blockchain Records

By Aislinn Keely

The U.S. Commodity Futures Trading Commission updated crypto guidance on Thursday to note that registrants can invest customer funds in tokenized versions of otherwise permitted investments and use blockchain tech to meet recordkeeping requirements.

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Analysis

5 Circuit Splits To Watch At The High Court

By Katie Buehler

The U.S. Supreme Court has been deciding fewer and fewer cases over the past three decades, with its caseload reaching a historic low just last term. While attorneys believe several factors have contributed to that trend, they say one of the most consequential is the court's apparent declining interest in resolving circuit splits. 

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$16M Coinbase Crypto Thief 'Lolimfeelingevil' Gets 12 Yrs.

By Bonnie Eslinger

A 23-year-old Brooklyn man who drained some 100 Coinbase accounts of $16 million by posing as a representative for the cryptocurrency exchange and bragged online about his heists was sentenced in state court Wednesday to 12 years behind bars, according to prosecutors.

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Ex-Tricolor CEO Says Feds Botched Warrants In Fraud Case

By Stewart Bishop

The former CEO of Tricolor Holdings on Thursday urged a Manhattan federal judge to bar any evidence seized from searches of his communications from being used to support accusations that he deceived lenders and investors about the subprime auto lender's assets before it crashed into bankruptcy with $1 billion in debt, saying federal agents ran roughshod over the Fourth Amendment.

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Capital One, Influencers Get Final OK In Alleged Fee Theft Suit

By Sydney Price

A Virginia federal judge has granted final approval to a settlement under which Capital One will pay influencers commissions and nearly $4 million in attorney fees and costs to settle claims that it siphoned commissions away from participants in its affiliate marketing program.

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Bitcoin Miner Loses Bid To Revive Detroit Lease Claim

By Isaac Monterose

A Michigan federal judge refused to revive a bitcoin miner's breach of contract claim against a Detroit landlord who was accused of wrongfully turning off electrical power for the cryptocurrency company while it was in the process of terminating its lease.

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Fried Frank Adds DLA Piper Asset Management Partner In DC

By Jack Rodgers

Fried Frank Harris Shriver & Jacobson LLP has hired a partner from DLA Piper who focuses his practice on counseling sponsors and managers of private funds through regulatory matters, the firm recently announced.

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AML Takes Center Stage In Financial Crime Enforcement

Financial Crimes Enforcement Network actions, including its recent anti-money-laundering penalty against UBS, signal that companies should align sanctions and anti-corruption controls with documented risk assessments, quickly escalate and investigate red flags, and test remediation as enforcement intensifies, say attorneys at Bass Berry.

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Series

Playing Bid Whist Makes Me A Better Lawyer

As a child, I viewed bid whist as a family tradition and a source of friendly card game competition, but as a lawyer, I see it as a tool that has helped me cultivate skills like communication, teamwork, risk assessment and composure, says Keyonn Pope at Riley Safer.

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Litigation Spending To Keep Climbing While Biz Risks Mount

By Ryan Boysen

Big companies will increase their litigation budgets yet again next year, as navigating legal risk is now an essential element of achieving strategic business goals, according to a new report.

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Seyfarth Failed To Guard Client Data From Hack, Suit Alleges

By Lauren Berg

Seyfarth Shaw LLP on Thursday was hit with a proposed class action in Illinois federal court accusing it of failing to protect its current and former clients' personal information after the Chicago-based law firm this month disclosed a recent data breach.

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PACER Experiences Outages Of Some Court Dockets

By Matt Perez

PACER, the online public repository of federal court documents, experienced technical errors on Wednesday and Thursday preventing some users from accessing certain court dockets.

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New Eastern La. Judge's 5th Circ. Bid Goes To Full Senate

By Courtney Bublé

U.S. District Judge Anna St. John of the Eastern District of Louisiana, who was confirmed to her current post in March, is one step closer to being elevated to the federal appeals bench.

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Fla. Judge To Get Reprimand For Remark On Shooting Attys

By Madison Arnold

The Florida Supreme Court on Thursday ordered a public reprimand of a state district court judge for "intemperate and caustic" comments about shooting attorneys during a hearing.

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Congressional Probes Raise Legal, 'Reputational' Risks

By Phillip Bantz

An array of companies and executives may face investigations over their dealings with the Trump administration if Democrats take control of Congress, raising the possibility that some may refuse to comply. But experts say holding out hope for a mass pardon or expecting the Justice Department not to pursue contempt charges is a risky bet.

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Trump's Antitrust Pick Advances Amid Independence Worries

By Courtney Bublé

President Donald Trump's pick to lead the antitrust division at the U.S. Department of Justice advanced to the Senate floor on Thursday, despite Democratic concerns about agency independence.

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Sen. Hyde-Smith's Opponent Seeks Blue-Slip Transparency

By Courtney Bublé

Four years ago, Scott Colom — the son of the first African American elected to the chancery bench in her region of Mississippi — was nominated for a federal judgeship. Now he's running for Senate against the senator who blocked his confirmation.

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Ed. Dept. Committee Sidesteps ABA Accreditation Issue

By Ryan Boysen

A key U.S. Department of Education committee on Thursday declined to weigh in on whether an American Bar Association council should remain a federally recognized accreditor of law schools, a day after the panel deadlocked on different proposals over the hot-button issue.

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