While it's obviously sports betting, the fact is that federal law gives the CFTC the power to determine what is and isn't a future and expressly preempts state intervention in futures markets. And, the case as to why futures markets generally should be subject only to federal oversight is quite strong IMO. So, the case can quickly become whether or not the CFTC should consider sports betting to be a future, and judges typically defer to the executive branch when it's not obvious (and in this case I don't think it is, the bar owner in Philly hedging an Eagles loss is an entirely plausible, albeit unlikely and uncommon, situation).
While I am partial to the argument that the CFTC is actually taking away the states' 10th Amendment police power right, that is a somewhat tenuous case in comparison to the enumerated right of the federal government to provide sole jurisdiction to the executive branch to enforce a law (and not to mention a law that impacts interstate commerce).
I imagine Minnesota loses this case and what's far more likely is either a more liberal congress changes what is a future by law or a more liberal executive branch reduces the protections for Kalshi et al.
90% agree, the CFTC doesn't consider these futures contracts, it regulates them under its "contract market" authority, that Congress designated and updated periodically over time
This is the authority on the CFTC's own website on prediction markets "For more information" section
And yes, both the Supremacy clause and the Interstate commerce clause neutralize any 10th amendment claim, unless the Federal government or any of its agencies was completely mum on the activity. But since the Federal government has exerted authority over that industry, via the interstate commerce clause, states can pound sand.
Federal judges and SCOTUS have some times ruled in favor of states or in favor of the federal government with the 10th amendment being at the center of an argument
Super cool! Unrelated to the idea itself, but it seems like (at least for me) the images on the desktop landing page aren't rendering on either chrome or safari
"Although the generation of fake legal authority by AI sources has been widely commented on by federal and out-of-state courts and reported by many media sources, no California court has addressed this issue. We therefore publish this opinion as a warning."
This is awesome! Interesting that a grappling hook didn't work, seems like it would be somewhat similar to the mechanic where you can pull mobs with a fishing line
Nice analysis of the OpenAI incident. The telemetry/DNS masking issue is a perfect example of how scale changes everything - what works fine in staging can fall apart spectacularly when all the pieces start dancing together in prod. Their recovery was hampered by a classic "turtles all the way down" problem where the tools needed to fix things depended on the broken stuff.
While I am partial to the argument that the CFTC is actually taking away the states' 10th Amendment police power right, that is a somewhat tenuous case in comparison to the enumerated right of the federal government to provide sole jurisdiction to the executive branch to enforce a law (and not to mention a law that impacts interstate commerce).
I imagine Minnesota loses this case and what's far more likely is either a more liberal congress changes what is a future by law or a more liberal executive branch reduces the protections for Kalshi et al.