President Trump and Senator Warren agreeing on an issue makes for an interesting dynamic. Who is going to be on the other side of this debate? Is there a compromise to be had here that saves the government from being in the price control business?  

At some point, what might in small dollars look like a plain vanilla suitability violation begins to look a lot more like felony theft worthy of jail time.  

This is an interesting decision. Although it is a loss by Kalshi, it is by no means a total loss.  

CEA Section 5c(c)(5)(C) provides that the CFTC may determine that event contracts are impermissible if they involve, among other things, (i) an "activity that is unlawful under any Federal or State law"; or (ii) "gaming."  Certain of the prior decisions have largely focused on whether the activity constituted gaming and might be per se unlawful.  

This should serve as a reminder to firms that it is not permissible for a broker-dealer to enter into reverse repos where it has a security interest in the collateral through a triparty custodian, as opposed to holding the securities directly.