The post Ripple Lawsuit-Linked Judge Torres Hands Kalshi a Big Loss in NY Prediction Markets Case appeared on BitcoinEthereumNews.com.
Federal Judge Analisa Torres, known for SEC v Ripple lawsuit, has ruled against prediction market platform Kalshi in a gambling case in New York. This marks a big loss for the prediction market firm, allowing New York state to continue enforcing its gambling laws against the company’s sports-event contracts. Ripple Lawsuit Judge Torres Denies Kalshi’s Preliminary Injunction Against NY SDNY Judge Analisa Torres, who presided over the high-profile SEC v. Ripple lawsuit involving XRP, has rejected Kalshi’s request for a preliminary injunction. Judge Torres found that New York state gambling laws apply to Kalshi’s sports-related event contracts and are not preempted by the Commodity Exchange Act (CEA). The decision clears the way for the lawsuit to proceed. In KalshiEX LLC v. Williams, Kalshi argued that its sports-related event contracts qualify as CFTC-re
The post Kalshi Appeals Court Loss in Sports Prediction Market Fight appeared on BitcoinEthereumNews.com.
Kalshi is appealing a New York federal judge’s rejection of its bid to block state gambling officials from enforcing local laws against the prediction market platform’s sports-related event contracts. In a notice filed on Tuesday in the US District Court for the Southern District of New York (SDNY), Kalshi said it would take the case to the US Court of Appeals for the Second Circuit. The appeal followed a same-day opinion and order denying the platform operator’s motion for a preliminary injunction against officials at the New York State Gaming Commission. The appeal escalates a growing legal fight over whether sports prediction markets are federally regulated derivatives or state-regulated gambling products. This question has already split courts across the United States. Judge Analisa Torres earlier Tuesday rejected that argument at the preliminary injunction stage, finding tha
Kalshi appealed to the Second Circuit after a New York federal judge denied its request to block state gambling officials from enforcing local laws against its sports event contracts.
The post ‘Major loss’: New York Court rejects Kalshi’s injunction request appeared on BitcoinEthereumNews.com.
Prediction market platform Kalshi has suffered a legal loss in New York. According to a court filing on the 7th of July, the firm was denied a preliminary injunction by Judge Analisa Torres of the Southern District of New York. Judge Torres maintained that gambling falls under the purview of local state oversight. The scope of laws regulating gambling and lotteries is clearly a matter of predominantly state concern. Additionally, Judge Torres clarified that federal law, the Commodity Exchange Act, does not preempt state gambling laws. Courts apply a presumption against preemption with respect to areas where states have historically exercised their police powers. Source: Court Listener She explained that such a presumption arises only when Congress legislates in a field traditionally governed by the states. In other words, federal authority applies only where Congress has
The post Satoshi Bitcoin lawsuit drops 44 wallets after on-chain activity appeared on BitcoinEthereumNews.com.
A New York lawsuit seeking legal ownership of dormant Bitcoin wallets has narrowed after several listed addresses moved funds. Summary Noah Doe’s legal team dropped 44 wallets after on-chain activity challenged the abandonment claim. The removed wallets held 21,443 BTC when the lawsuit started, according to Galaxy’s Thorn. Related filings and amicus briefs argue dormant self-custody does not prove Bitcoin was abandoned. Galaxy Research head Alex Thorn said the plaintiffs in the “abandoned bitcoin” lawsuit dropped 44 of 39,069 listed defendants. The case was filed by “Noah Doe” and two Wyoming entities seeking title to long-dormant Bitcoin wallets. Thorn said every removed wallet had moved coins on-chain since the case was filed. “Every single one had moved coins onchain since the case was filed,” he wrote in a July 8 thread on X. Meanwhile, the lawsuit asks the New York Supre
The post Ripple news: XRP Ledger v3.2.0 rollout gains ground but trails version its replacing appeared on BitcoinEthereumNews.com.
The XRP Ledger’s newest server software, v3.2.0, designed to make the network cheaper to run, more stable, and more attractive for institutional use, is gaining adoption. However, it has yet to overtake the previous version (3.1.3) across the wider network, and the key security fixes that come with it remain in the voting process. Of the approximately 833 active nodes on the XRP Ledger, the machines that store and relay the ledger, about 43% are running v3.2.0 and 51% are still on v3.1.3, XRPSCAN data shows. While overall node adoption appears relatively slow, validators, or entities that matter most to the network, have largely already upgraded. The XRP Ledger runs on a trusted set of validators known as the Unique Node List (UNL). For a new software version or amendment to activate, it needs sustained support from more than 80% of validators on that list
The post Polymarket’s Frontend Attack Shows Why Real-Time Platforms Need Better User-Side Security appeared on BitcoinEthereumNews.com.
Polymarket’s latest security incident did not begin with a broken smart contract. The prediction market platform said a compromised third-party vendor injected malicious code into its frontend for some users, exposing them to a phishing attack and forcing the company to promise full reimbursement. For crypto users, that detail matters. A platform can be sound on-chain and still become dangerous at the screen where a wallet signs, clicks, or confirms. The attack was not only about code According to TechRadar, Polymarket said the affected vendor had been contained and the compromised dependency removed after the attack was discovered. Blockchain monitoring firm PeckShield estimated that roughly $3 million in crypto was stolen from around 11 users, while Polymarket said it was contacting impacted users and refunding them in full. That sequence is familiar
