Eleven‑Month Delay, Not One Month, Drives Laches Victory
The winning laches argument for Arizona isn’t the 1 month delay between the state court filing and the CFTC's TRO motion, but the ELEVEN MONTH delay following @AzGaming's C&D letter threatening criminal charges. Such delay bars grant of TRO or preliminary injunction, per CA9 law. https://t.co/GxXXWirKOr
Arizona's Criminal Charge Strategy May Invite Federal Regulators
“As it stands, by filing criminal charges against Kalshi, Arizona may have found an effective way to keep these cases in state court, even if that strategy increases the odds of federal regulators intervening.” https://t.co/o4iJw3CQpc
Roth's Dissent Mirrors Courts; Congressional Intent Overlooked
Judge Roth's dissent is in alignment with the majority of courts that have addressed PMs--MD, MA, MI, NV & OH. Omitted from majority opinion--any discussion of congressional intent + weird concession of "interstate gambling." Major Question, major problem. https://t.co/IORuahWUDA
CFTC Moves to Block Arizona Gaming's Derivatives Activities
The CFTC will be filing a motion for a temporary restraining order and preliminaery injunction in Arizona federal court later today to immediately enjoin @AZAGMayes and @AzGaming from "infringing upon" the CFTC's exclusive jurisdiction to regulate "derivatives trading" on DCMs....
Harvard Sports Law Symposium Explores Future of Prediction Markets
Today at @Harvard_Law, Melinda Roth, Massachusetts Gaming Commission Chair Jordan Maynard, and I will debate and dissect the future of prediction markets at Harvard’s annual #sportslaw symposium. Open to the public. Begins at 5:30 pm. Reception to follow. https://t.co/HrmEE5ufTg
Sixth Circuit Sets Kalshi Appeal Timeline Amid OH‑TN Split
The Sixth Circuit has issued the following briefing schedule in Kalshi v. Tennessee: May 18: Tennessee's principal brief June 17: Kalshi's response brief July 8: Tennesee's reply brief Crucial appeal given the intra-circuit split (OH vs....
Persistence Pays: Olson Wins After Multiple Court Defeats
Ted Olson lost 7x in NJ federal courts and CA3 (twice), got rehearing and lost again (a third L), had cert denied the first time, and ultimately prevailed. That one was a much longer shot. Strong dissent from Roth, but...
NJ Has 14 Days to Seek Rare En Banc Review
New Jersey has 14 days to request rehearing en banc before the CA3's 14 active judges. Limited to 2 grounds: 1) maintain uniformity with circuit precedent; or 2) "involves question of exceptional importance." While rarely granted, split ruling gives it...
Kalshi Cites First Federal Ruling on CEA Preemption
With a ruling imminent in Arizona federal court, Kalshi wastes no time in filing the CA3 decision as supplemental authority in the AZ case, noting that it is the first federal appeals court decision to decide whether the CEA preempts...
Washington Seeks to Shift Kalshi Case to State Court
NEW: Washington files motion to remand its civil enforcement action vs. Kalshi from federal court to state court, says that courts have rejected Kalshi's federal preemption defense as a legitimate basis for removal, noting the high bar presented by "complete...
All‑Trump Ninth Circuit Panel Set for Crypto Market Appeal
The 3-judge panel has been selected for the Ninth Circuit oral argument on April 16th in the prediction markets appeals involving Kalshi, Robinhood and Crypto. The 3 judges--Ryan D. Nelson, Bridget S. Bade, and Kenneth Lee--are all Trump appointees. Ideal...
Kalshi Scores Partial Victory, Faces Possible En Banc Review
Big win for Kalshi at the Third Circuit, but split decision means possible rehearing en banc.
NY AG Threatens to Collapse Prediction Markets Nationwide
‘Like a house of cards’: How the @NewYorkStateAG could make prediction markets go bust, via @alasdair_macdh (with insights from me) The lead story in @TimesUnion examines the AG's ability to seek nationwide disgorgement and officer personal liability. https://t.co/fLOiG3dbDq
States Dominate TRO Battles, Winning 14 to 2
States v. PMs Scorecard: (On contested motions for a temporary restraining order and/or preliminary injunction by either side) States have won 14 PMs have won 2
Robinhood Urges Ninth Circuit to Reject Nevada Injunction over Coinbase
Robinhood urges Ninth Circuit not to rely on the Nevada state court's recent preliminary injunction ruling vs. Coinbase because the judge "did not conduct an independent preemption analysis" but rather "conclusorily deferred to the reasoning" of Judge Gordon. https://t.co/42D6vdgdet
Nevada Extends Ban on Kalshi, Calls Sports Betting Gambling
Nevada judge extends Kalshi ban, calls sports contracts 'indistinguishable' from gambling. Nevada is now the only state with a court-enforced, in-effect ban against the New York-based company. Via @TheBlockCo https://t.co/hfLZkUB79w
States' Legal Missteps Preserve Sports‑Event Contracts, Ignoring NV Lessons
If the States had retained outside counsel and/or filed suit first in state court rather than sending C&D letters to Kalshi, there likely would not be any sports-event contracts today. The lessons of NV & NJ have not been heeded...
Kalshi's Federal Shift Stalls Washington AG's Enforcement
It's been 8 days since Kalshi removed the Washington AG's civil enforcement action to federal court, and the AG's Office still has not filed a motion to remand it back to state court. Lack of outside counsel not exactly helping...