Is the Clarity Act Dead?

Plus NY sues Kalshi and seeks to bar the firm from the state.

SEC Charges REIT and Founders with $152 Million Fraudulent Real Estate Investment Scheme

Plus Jamie McDonald assumes role of U.S. Attorney for the SDNY.

Corporate Litigator William Savitt and Team from Wachtell Move to Gibson Dunn

Plus the Senate confirms Jay Clayton as Director of National Intelligence.

Federal Court Blocks Minnesota's Effort to Ban Prediction Markets

Plus “read frequently Matt Levine” is now federal law.

SDNY Charges Two Volkswagen Engineers with Insider Trading in Advance of Rivian Joint Venture

Plus "when a president's thoughts are for sale."

Why "Zombie Crypto" Firm Terra is Still Prominent at Washington Nationals Games

Plus Anthropic may require all employees, not just senior executives, to trade its stock through a 10b5-1 trading plan.

SEC Announces Sam Waldon, Principal Deputy Director of Enforcement, to Depart Agency on July 31

Plus Senate Democrats still holding up CLARITY Act over ethics concerns.

Congressman Asks SEC to Investigate Truth Social's Plan to Sell Real-Time Access

Plus another sentencing in the $100 million deli case from 2022.

SEC's CETU Unit Charges Mining Automatic and Founder With Fraudulent Crypto Asset Mining Scheme

Plus how crypto D&O risk Is evolving.

SEC Charges Former Director of Company, Friends with Insider Trading Before Acquisition of ExOne

Plus the SEC's OIG finds an SEC employee shared information about an ongoing enforcement investigation with her son.

CFTC Investigating Pres. Trump's Teleprompter Operator for Potential Insider Trading on Kalshi

Plus SEC receives record amount of feedback on plan to scrap quarterly financial disclosures.

President and Senators to Meet Today to Work Through Ethics Demands for Clarity Act

Plus the one thing that is unanimous in the U.S. Senate: No clemency for SBF.

"One-Man CFTC" Allows for Quick Rulemaking

Plus has private litigation filled the gap left by the SEC's crypto pullback?

DOJ Sets "25 Open Matters" Quota for AUSAs

Plus an ethics provision for senior government officials continues to stall passage of Clarity Act.

DOJ Drops Charges in Alleged $772 Million Crypto Fraud

Plus top Dems call for probe into Pres. Trump's crypto earnings.

White House: We Requested Names of Dems for SEC Vacancies, Never Received Any

Plus Paul Grewal is departing Coinbase after six years.

Court Approves SEC-Musk Settlement: "Not a Rubber Stamp" but Also "Not an Ombudsman"

Plus SEC Enforcement's Kate Zoladz and Kim Frederick to lead new Retail Fraud Working Group.

This newsletter is off today, back on Thursday.

Report: $TRUMP Memecoin Investor Losses Total $3.8 Billion

Plus a federal judge definitively answers one of our poll questions.

Osman Nawaz rejoins SEC as Deputy Director of the Division of Enforcement

Plus an unusual SEC Litigation Release.

Delaware Court Rules JPMorgan Must Continue to Pay Charlie Javice's Legal Bills

Plus can U.S. insider trading law reach Polymarket?

Pres. Trump was Reportedly the Top Crypto Earner in the U.S. in 2025 ($1.4 Billion)

Plus the SEC requests comments on the first sports gambling ETF.

SEC Chairman Atkins Promises Historic "Thorough Review of Enforcement Processes"

Plus Pres. Trump discloses more than $1 billion in crypto proceeds in 2025.

Supreme Court Ruling Boosts Power of President to Fire Officials at Independent Agencies

Plus Chinese billionaire Guo Wengui sentenced to 30 years in prison for defrauding investors.

NYT: CFTC Has Launched Investigation Into Polymarket

Plus a federal judge says DOJ must justify decision to drop criminal case against Gautam Adani.