In a statement shared after this article’s publication, Paige Pidano Paridon, the executive vice president and co-head of regulatory affairs at the Bank Policy Institute said, “BPI supports efforts to bring innovative new products and services into the regulated banking ecosystem, provided that the entities… Read More
The case adds to a growing fight between prediction markets and state gambling regulators over who has the authority to oversee the products. Prediction market companies argue that their event contracts are financial products overseen at the federal level by the Commodity Futures Trading Commission… Read More
A crypto lobbying organization has sued the state of Illinois over a last-minute tax provision inserted into the state budget last month. The Digital Chamber alleged that Illinois’ Digital Asset Tax Act violated both the U.S. and state constitutions and is preempted by a federal… Read More
The U.S. Securities and Exchange Commission (SEC) has sued Texas resident Nathan Fuller, alleging he raised about $12.3 million from roughly 150 investors through a crypto investment scheme built around false claims of AI-powered trading bots, guaranteed returns and insurance protections. According to a complaint… Read More
Elon Musk’s artificial intelligence company, xAI, has filed a lawsuit against the state of Colorado, seeking to block incoming AI rules that restrict speech from AI chatbots like Grok. The AI company is specifically challenging Colorado’s Senate Bill 24-205, which aims to protect AI users… Read More
The state of Washington has become the latest to sue a prediction markets provider, after alleging Friday that Kalshi had violated state gambling laws through its products. According to the complaint, Washington has a tightly-regulated gambling market, including a ban on online gambling, but Kalshi’s… Read More
