Key Arguments: ▸ Kalshi should clear three unbiased textual questions to maintain its preemption principle intact. ▸ The CFTC’s place on at the very least a kind of questions modified between 2021 and 2024 with out rulemaking. ▸ Post-Loper Bright, courts resolve all three with out “deference to the company.” ▸ And the Sixth Circuit…
Key Takeaways ▸ CFTC strikes to block Wisconsin enforcement, establishing a direct conflict between state authority and federal oversight of prediction markets. ▸ Seventh Circuit now in play (with Illinois too), including one other potential path for appellate overview alongside a number of energetic circuits. ▸ Odds of a circuit break up are rising, rising…
Key Takeaways ▸ CFTC strikes to block Wisconsin enforcement, establishing a direct conflict between state authority and federal oversight of prediction markets. ▸ Seventh Circuit now in play (with Illinois too), including one other potential path for appellate evaluation alongside a number of energetic circuits. ▸ Odds of a circuit break up are rising, growing…
Key Takeaways ▸ The CFTC is suing New York (after AZ, CT, IL) to dam state restrictions on prediction markets, arguing unique federal authority over exchanges. ▸ A ruling in the Southern District of New York units up a near-certain enchantment to the US Court of Appeals for the Second Circuit, including a fifth circuit…
Key Takeaways ▸ Sixth Circuit denied Kalshi’s keep, permitting Ohio regulators to transfer ahead with penalties, together with a proposed $5M effective. ▸ The attraction is expedited, however the courtroom’s language indicators a doubtlessly robust path for Kalshi on preemption. ▸ Diverging rulings between circuits may arrange a broader federal showdown over prediction markets vs….
Key Takeaways ▸ State additionally names Robinhood and Coinbase in Kalshi case, looking for injunctions and forfeitures because it argues prediction markets perform as unlawful sports activities betting. ▸ Wisconsin says sports activities occasion contracts are “indistinguishable from an extraordinary sports activities guess,” underpinning its declare that prediction markets violate state playing regulation. ▸ The…