The U.S. Securities and Exchange Commission (SEC) has moved to dismiss civil enforcement actions against multiple crypto-related companies that were filed under the prior administration, according to SEC Commissioner Mark Uyeda. Speaking at the Psaros Center for Financial Markets and Policy’s Financial Markets Quality Conference, Uyeda said the agency’s decision was tied to an intended shift in how it approaches rulemaking and litigation strategy. Uyeda, who served as acting SEC chair from January to April 2025 before Paul Atkins took over following confirmation, argued that continuing cases authorized under earlier leadership could undermine the SEC’s credibility if the agency’s legal posture changes. His remarks point to a broader tension at the intersection of crypto enforcement and evolving regulatory interpretation within the SEC. Key takeaways SEC Commissioner Mark Uyeda said civil crypto cases were dropped to avoid an “180-degree change” in positions becoming inconsistent in c...
US state lawmakers have stepped into the Kalshi prediction-markets dispute, filing an amicus brief urging the Supreme Court to address whether state gaming regulators can rein in platforms that offer event-based “contracts” linked to sports and other outcomes. The filing—submitted by the National Council of Legislators from Gaming States (NCLGS) on Tuesday—backs the position of New Jersey’s Attorney General and gaming authorities as they pursue a petition for a writ of certiorari. The Supreme Court docket in question stems from a Sept. 2 request, which asks justices to consider New Jersey’s legal challenge to Kalshi and to clarify the balance between state authority and federal oversight. Key takeaways NCLGS filed an amicus brief supporting New Jersey and state gaming regulators in their dispute with Kalshi over prediction-market activity. The lawmakers argue that a ruling for Kalshi would effectively leave states “powerless” to regulate prediction-market sports betting. The brie...