@DustinGouker I guarantee they don’t sweat every lawsuit or order as breathlessly as Dan Wallach does. And they definitely don’t spend nearly as much time tweeting their own press.
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Nicholas Green
1.2K posts
Nicholas Green
@nickggreen
General Counsel @Underdog // @UofSC alum x 3 and @Braves fan // Law Nerd - radicalized by Fed Cts 3L year and clerking on CA5 // opinions my own.
Charleston, S.C. Katılım Mart 2011
450 Takip Edilen442 Takipçiler
What do we think Kalshi’s lawyers do in their spare time?
Daniel Wallach@WALLACHLEGAL
BREAKING: A federal class action lawsuit has been filed against Kalshi and its co-founders Tarek Mansour and Luana Lopes Lara for offering sports-event contracts in violation of the CEA and CFTC Rule 40.11(a)(1); invokes private right of action under CEA § 25 to avoid preemption.
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Nicholas Green retweetledi
Today the @CFTC and @MLB made history by signing the first-ever MOU between a sports league and federal agency.
We’ve committed to work together to protect the integrity and resilience of prediction markets relating to professional baseball.
Through this partnership, the @CFTC is well-positioned to add additional tools to protect our markets from fraud, manipulation, and other abuses. Thanks to @MLB and Commissioner Manfred for working with us to protect the integrity of these growing markets.
Read the full MOU⬇️
cftc.gov/PressRoom/Pres…
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Some courts have already sided with exchanges on these questions. Given that, it's an unnecessary escalation to bring criminal charges.
Matt Platkin@mattplatkin
Putting aside how much his lawyers must love that he’s tweeting about pending criminal charges, @mansourtarek_ continues to conflate bets placed on @Kalshi with traditional derivatives contracts. But that assumes sports bets placed on Kalshi are in fact derivatives and not gambling — an argument courts are increasingly rejecting. Extrapolating the charges against Kalshi to say that every derivatives contract must also be criminal is like saying charging someone with distributing black market opioids is inappropriate because pharmacies distribute legal prescriptions. States routinely shut down illegal gambling operations pursuant to state laws and unlicensed operators may be charged criminally in many jurisdictions (NJ is one). There’s nothing extraordinary about that. I predict this statement will hurt his case.
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Nicholas Green retweetledi
@DustinGouker Never go over on billable hours. It’s always more than you expect. :)
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I am long on OVER any number of billable hours for Kalshi’s lawyers.
Daniel Wallach@WALLACHLEGAL
BREAKING: Kalshi has sued Arizona state regulators in federal court, seeking to head off enforcement action over sports-event contracts in the state courts. Bold move considering CA9 intra-circuit precedent favoring states, but preferable to an all-but-certain state court TRO.
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Nicholas Green retweetledi
Nicholas Green retweetledi
The latest CFTC releases expose the fallacy in states' arguments that PMs lack a regulator. By issuing an Enforcement Advisory(insider trading), Staff Advisory(contract listing) & notice for new rules, @CFTC isn't just watching-it's acting.
It's the triple threat of regulatory tools: overseeing market participants, policing current behavior, and enhancing the regulatory framework. The "unregulated" narrative is officially dead.
Important work from @ChairmanSelig.
Mike Selig@ChairmanSelig
Prediction markets are one of the most exciting innovations in financial markets. Yet for too long, the @CFTC has failed to provide guidance for these markets being used by millions of Americans. This ends today. Read what steps the agency is taking here⬇️ cftc.gov/PressRoom/Pres…
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Nicholas Green retweetledi
Is “elephants in mouseholes” anything more than a zinger at this point?
The definition of “swap”is not a mousehole. It’s the Mariana Trench. Forget elephants. You could sail an ocean liner through it.
Amanda Fischer@amandalfischer
The court on Kalshi’s claim that congress intended for the CFTC to have exclusive jurisdiction over sports betting: “Congress does not hide elephants in mouse holes.”
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Nicholas Green retweetledi
The greatest thing Saudi Arabia did for the world was pay off @AriFleischer so that insufferable prick would stop tweeting his annual 9/11 reenactment
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Someone please let @AllenEdmonds marketing know that 5+ emails on a Saturday isn’t doing anything, except destroying brand value.
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Nicholas Green retweetledi
Nicholas Green retweetledi
I know a fair number of people have been laid off in the gambling industry of late. The one little thing I can do to help is to reactivate my reverse job board.
-Looking for a job? Fill out this form: #responses" target="_blank" rel="nofollow noopener">docs.google.com/forms/d/1sZPsO…
Looking to hire? Go here closinglineconsulting.com/gambling-job-s…
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Nicholas Green retweetledi
Strong Disagree.
Chris Christie@GovChristie
I believe Prediction Markets are violating the law. In 40 states we have regulated betting that can’t market to teenagers, pays state taxes, protects game integrity & reports suspicious activity to law enforcement. Prediction markets do none of that at all ms.now/morning-joe/wa…
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Nicholas Green retweetledi
@samberman @Underdog They fired me years ago. Nobody thought to tell me. Been at my desk in the basement with a weird red stapler for awhile.
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@nickggreen @Underdog wow so u are actually an employee?! i thought it was just a really really long bit
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OMG, it's actually happening folks. I'm @Underdog verified. Thanks to everyone who made this moment possible.
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Nicholas Green retweetledi
Do not let anyone tell you that you shouldn't record law enforcement (so long as you're not physically impeding them). Citizen video has decisively rebutted the administration's lies. The evidence of our eyes contradicts the dishonesty of the administration's words.
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Nicholas Green retweetledi
Federal agents have shot and killed another American in Minneapolis.
“These people are wildly untrained. They’re unprofessional. They’re the most trigger-happy group of fucking cowboy thug monsters”
Warning: some footage may be disturbing to watch
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Nicholas Green retweetledi
That’s a cute turn of phrase and all, but the definition of “swap” is an elephant hole, not a mouse hole. Congress in Dodd-Frank was not creating a narrow or nuanced definition of “swap,” which, again, includes anything that is or in the future becomes commonly known to the trade as swap. You’d be hard pressed to find folks in the trade who do not consider these swaps, and if applicable comply with swaps regulations.
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