US Regulation

Key Facts Sports-event prediction-market operators Crypto.com and Novig have filed suit against Missouri financial regulators to challenge the state’s cease-and-desist orders on sports event contracts. Kalshi, Polymarket, Robinhood and Underdog, which received similar orders, have held off on litigation according to court records. The core legal question is whether sports-event contracts are sports betting under Missouri state law, or derivatives trades under the federal commodity-futures regulatory framework. The case is widely viewed as a marker in the broader US state-versus-federal clash over how to classify sports prediction markets. ...

Core Summary California Governor Gavin Newsom publicly stated on September 17 that he is seriously considering convening a state legislature special session or issuing an executive order to accelerate the construction of a regulatory framework for artificial intelligence technology. This statement demonstrates the urgency felt by the California state government in addressing the employment impacts, information authenticity issues, and ethical risks brought by the rapid proliferation of generative AI. California may become one of the first US states to establish a systematic AI regulatory system. ...