Supreme Court

Utah became the tenth state sued by the CFTC over prediction markets, in a federal case announced October 27 that asks a court to block state gambling enforcement against federally regulated exchanges. The expanding lawsuit count measures the size of the jurisdictional fight; it does not establish that the CFTC has won it. Two lawsuits, one week apart The CFTC’s announcement puts the agency and the United States, through the Justice Department, on the offensive. Their case against Utah and Attorney General Derek Brown is in the US District Court for the District of Utah, No. 2:26-cv-01055. ...

Three separate moves landed in the same news cycle this week, and together they tell one story: the US crypto regulatory map is being redrawn in real time, and no single agency is driving the pen. The SEC canceled a key crypto regulatory meeting, the CFTC signaled it will join the SEC in exploring crypto rules without waiting for the CLARITY Act, and a crypto coalition threw its weight behind Custodia Bank in a Supreme Court fight over Federal Reserve master-account access. For US investors, the combined message is that jurisdiction, banking access, and tax reporting are all on the table at once. ...