Suppose a person wanted to place a risky bet during the NBA Finals but lived in a state that illegalized sports gambling. Traditionally, this gambler might turn to the neighborhood bookie, but newer apps like Kalshi allow users to “trade” money for contracts in any state. (Kalshi, Instagram). Normally, states regulate sports gambling and decide whether to legalize or prohibit it, but prediction markets such as Kalshi and Polymarket are challenging this framework. (Ben Blatt and Amy Fan, NYT). Prediction markets offer products that forecast, plan for, and hedge future events, with the contract’s “price” reflecting traders’ perceived probability of an event’s outcome. (CFTC). This post examines the rise of prediction markets into a multi-million-dollar industry, their growing political influence, and the states’ struggle to regulate this industry.
Read MoreOn March 25, 2025, the Delaware legislature enacted Senate Substitution 1 for Senate Bill 21 (“SB21”) into law. (Delaware General Assembly). SB21 limits the scope of the State’s Court of Chancery jurisdiction to hear certain complaints from shareholders regarding transactions between corporations and their directors. Id.
Delaware is a popular domicile for many corporations around the United States with more than 2.1 million legally incorporated entities. (Delaware Division of Corporations, Delaware.gov). Notably, Delaware is the domicile for nearly 66% of Fortune 500 Companies, and over 80% of all U.S. based initial public offerings (“IPOs”), passed the bill to ensure that large corporations incorporated in the state did not reincorporate in states which may provide better protections against lawsuits from minority shareholders. (Lauren Hisch & Michael de la Merced, New York Times). The state and the 1.06 million Delawareans who live there heavily rely on corporate revenue. Id.
Read MoreOn February 27, 2026, the IRS announced that it canceled its collective bargaining agreement with the National Treasury Employees Union (“NTEU”) following the Ninth Circuit Court of Appeals’ decision to remove the injunction preventing two Presidential Executive Orders from going into effect. (Jory Heckman, Federal News Network). The two executive orders state that certain federal agencies, such as the IRS, did not have a right to labor unions because it put national security at risk. Id. This article will discuss the reasoning behind the executive orders that pushed the IRS to cancel its union contract and how enforcing the orders effects federal employees.
Read MoreOn January 16th, 2026, the United States Supreme Court agreed to hear Durnell v. Monsanto Co., a landmark case that has the potential to reshape one of the largest mass tort litigations in American history. Bayer AG (“Bayer”), the German pharmaceutical and agrochemical giant that acquired Monsanto Company (“Monsanto”) in 2018, has faced over 200,000 claims alleging that its widely used Roundup weedkiller causes cancer, some such claims predating the acquisition. (David A. Lieb, AP/STAT News). The central question before the Court now is whether the Federal Insecticide, Fungicide, and Rodenticide Act (“FIFRA”) preempts state-law failure to warn claims when the Environmental Protection Agency (“EPA”) has approved a pesticide’s label without requiring a cancer warning. (LDM Law). Put simply, after the EPA has approved a label lacking a cancer warning, can failure to warn claims still be brought? This post will examine the history of the Roundup litigation, analyze Bayer’s use of the preemption argument and its potential effects on consumer protection, and consider the implications for American agriculture if the Court rules in Monsanto’s favor.
Read MoreTexas Senate Bill 13 ("SB 13"), enacted in June 2021 and authored by State Senator Brian Birdwell, was among the first U.S. laws targeting Environmental, Social, and Governance ("ESG") investing practices. (Mollie Duckworth, Latham & Watkins LLP). At its core, SB 13 prohibited Texas public entities from investing in or contracting with companies deemed to "boycott" the fossil fuel industry. (Texas Policy Research). ESG policies “aim to promote sustainable and responsible business practices” in addition to the previously paramount financial bottom line. (Deloitte). ESG practices trace their roots back to the early 1960s, led by social activists and religious groups seeking to spark corporate responsibility on ethical investing. (Thomas J. Billitteri, CQ Press). Sustainability pioneers like John Elkington popularized the “triple bottom line,” or the ideas that corporations must account for their societal and environmental impacts in addition to their profitability. (John Elkington, Harvard Business Review). Today, ESG practices are performed across industries, focused on issues, “ranging from human capital and compensation issues, to climate change, deforestation, and water and waste management, to supply chain management.” (Jurgita Ashley, Harvard Law School Forum on Corporate Governance). In the energy context, ESG policies condition investing on environmental and social criteria, threatening states like Texas by disfavoring their core oil and gas industries based on ideological grounds. (Ayden Runnels, The Texas Tribune). Thus, the law represented a “high profile” effort to combat ESG practices that the Texas Senate viewed as a threat to the state’s energy sector. (Texas Policy Research). This discussion explores SB 13’s implications, the recent ruling of its unconstitutionality, and the market’s incipient response to SB 13’s discontinued enforcement.
Read MoreCreators, sellers, and doom-scrollers can rest easy knowing that TikTok has found a new home on U.S. soil. (David Shepardson, Reuters). Following an executive order and subsequent landmark Supreme Court ruling, TikTok’s parent company, ByteDance, had no choice but to divest TikTok so that the app’s data could be stored and controlled by U.S. entities. Id. Several prominent investors, including Oracle, Silver Lake, and MGX, have emerged as potential stakeholders seeking to acquire an ownership interest in the company. Id. This post discusses the acquisition of and changes to the app and further examines whether this divestiture will address the Trump administration’s security concerns.
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