⚖️ Prediction Markets Case Heads to US Supreme Court
New Jersey has officially filed a petition for a writ of certiorari in its ongoing legal battle against Kalshi. This move brings the debate over the legality of election betting and prediction markets to the highest court in the United States.
The case centers on whether Kalshi, a regulated exchange, can legally offer contracts on political outcomes. New Jersey is challenging previous rulings that allowed these markets to operate during the 2024 election cycle.
The Supreme Court decision will set a massive precedent for the entire industry, including decentralized platforms like Polymarket. If the court rules against the markets, it could lead to stricter federal restrictions on prediction trading across the crypto ecosystem.
#Kalshi #SupremeCourt #PredictionMarkets #CryptoRegulation
New Jersey has officially filed a petition for a writ of certiorari in its ongoing legal battle against Kalshi. This move brings the debate over the legality of election betting and prediction markets to the highest court in the United States.
The case centers on whether Kalshi, a regulated exchange, can legally offer contracts on political outcomes. New Jersey is challenging previous rulings that allowed these markets to operate during the 2024 election cycle.
The Supreme Court decision will set a massive precedent for the entire industry, including decentralized platforms like Polymarket. If the court rules against the markets, it could lead to stricter federal restrictions on prediction trading across the crypto ecosystem.
#Kalshi #SupremeCourt #PredictionMarkets #CryptoRegulation
⚖️ SBF Appeals to Supreme Court to Overturn Conviction and $11B Fine
Former FTX CEO Sam Bankman-Fried has officially petitioned the US Supreme Court to overturn his 2023 fraud conviction. The filing also seeks to reverse a massive $11 billion forfeiture order, arguing the fine is excessive and violates the Eighth Amendment.
His legal team claims the original trial judge unfairly excluded evidence showing his investments were sound and could have potentially covered FTX customer losses. This move follows a June decision by the 2nd US Circuit Court of Appeals that upheld his 25-year prison sentence.
Bankman-Fried was convicted on seven counts of fraud and conspiracy for using billions in customer funds to finance Alameda Research debts and personal spending. Beyond the court system, he has also reportedly applied for a pardon from President Donald Trump.
#FTX #SBF #CryptoNews #SupremeCourt
Former FTX CEO Sam Bankman-Fried has officially petitioned the US Supreme Court to overturn his 2023 fraud conviction. The filing also seeks to reverse a massive $11 billion forfeiture order, arguing the fine is excessive and violates the Eighth Amendment.
His legal team claims the original trial judge unfairly excluded evidence showing his investments were sound and could have potentially covered FTX customer losses. This move follows a June decision by the 2nd US Circuit Court of Appeals that upheld his 25-year prison sentence.
Bankman-Fried was convicted on seven counts of fraud and conspiracy for using billions in customer funds to finance Alameda Research debts and personal spending. Beyond the court system, he has also reportedly applied for a pardon from President Donald Trump.
#FTX #SBF #CryptoNews #SupremeCourt