1,833 karma · joined March 5, 2020
That's only for documents that are required to be "submitted to the court in word processing format." It's an unusual circumstance when that is the case. 99.999% of all court documents are submitted as PDFs.
Well it is to their benefit to know this is what's going on, to that other poster's point.
And then they rant about patents! Like it should be easy to come up with a pithy statement that is meant to delineate what should be protectable from what shouldn't for EVERYTHING that has yet to be invented! Like that's a trivial task!
Edit: 2nd circuit denied Kalshi's request for an injunction against NY's enforcement. So yeah... I think I'm within pretty good grounds to reasonably disagree with the 3rd circuit.
Edit: 2nd circuit denied Kalshi's request for an injunction against NY's enforcement. So yeah... I think I'm within pretty good grounds to reasonably disagree with the 3rd circuit. You really just come off like a buffoon.
Awfully rude.
>The common language meaning of gambling is too broad and captures things that aren't legally regulated as gambling such as gambling (again common meaning of the word) with futures contracts.
No it doesn't. No one argues that state gambling laws actually regulate the trade of securities, options, or anything actually covered by the CFTC, so this is a completely sham argument.
>The other is the debate for the value of the truth discovery. Some folks buy it and others don't. SCOTUS will likely take the case to resolve the split between the circuits and we'll if the value of this even enters into the decision or it just comes down interpretation of the statutes.
The value of truth discovery is completely irrelevant to these cases. Either congress intended to regulate sports gambling under the CFTC, or it didn't. The executive branch can't get around that.
That the holding opinion addresses, quoting the same exact section you did and then going on to say that "[i]n such far-fetched scenarios, Congress’s express delegation to the CTFC and the Securities and Exchange Commission to 'further define' swaps would prove useful." So yeah, that exact point stands.
>The 3rd circuit literally said they are '"swaps" subject to the CFTC's jusridiction' which is literally the opposite of what the 9th circuit said.
No, the 3rd circuit literally said that the CFTC designated Kalshi a DCM, so therefore it must be the case that its sports events contracts fall under DCM event contracts regulated by the CFTC. This is much more limited than my construction of the 9th circuit holding, which you insisted this is the opposite of it.It's literally not. The 9th Circuit's holding goes much further than to say they aren't a DCM. It says that a sports event can't be an event contract under the CFTC, so it does not even matter if it is a DCM or not.
You had me thinking you read the opinions when you came with the quotes, but it seems like at the same kind of superficial level the 3rd circuit is playing around at here. The 9th Circuit's holding is much broader and addresses the fact that the DCM designation is basically a sham, and clearly well beyond whatever congress could have intended with the statute.
And it's funny that you act informed about this but are playing ignorant the politics of the Trump admin's cronyism with Kalshi and its sudden and unprecedented designation of it as a DCM. Resting in the shallow depth of the 3rd circuit's opinion isn't a good place to be when you really think about what that court represents. And do you really think the supreme court is going to say that the executive branch can decide what congress intended by making designations like that? Fat chance. There's nothing in the congressional record that could ever indicate an intent to give the CFTC power to preempt state sports gambling laws on an individual corporate basis by special designation.
I feel like you're just interested in this for the culture war politics of it and take up the law as a barb. You're just being rude up and down this thread with your intuitive arguments which are really just legal non sequiturs but you don't get that because you don't do actual legal analysis (which is fine, I see all sorts of analyses on this site that I can't do, I just read in those circumstances).
And this is what I've been trying to get at here... who can actually say with a straight face that congress intended to regulate sports gambling with the CFTC? It's a ridiculous proposition to which there are no actual facts that support it. Nothing in the congressional record, nothing in the statute. Just a broad reading of the language while keeping one's head in the sand.
>I was trying to have a conversation about the gray areas and why we don't just send people straight to jail for trying out a new, novel, (and potentially illegal), business model.
Actually we do. If a court finds your activity was illegal, you get the according punishment. The court doesn't say "oh gee golly, you're guilty but we'll let you off for this one because who could see it coming!"
>The courts are figuring it out.
The courts figured it out. It does not matter in Utah state court, what the 3rd circuit thinks. It is not binding precedent in Utah state courts.
Like, do you have any actual argument as to why it's not gambling, or are you just going to hang it on this plausible deniability? It's not like they knew the 3rd circuit would decide in their favor anyway, so I don't really think your point is the slam dunk you're acting like it is. They knowingly engaged in activities that most states consider to be gambling. They aren't even really denying that. They are just saying it falls under federal regulation, but the argument for that is so shockingly poor, it's hard to imagine how the 3rd circuit's decision could stand, but its only on a preliminary injunction anyway, so it's still not quite a merits decision. The third circuit said that by its own logic, Congress must weigh in on whether or not "bingo" is a swap regulated by the CFTC. If you can't understand how facially stupid that is, I don't know what to say.
>And it's less variable because juries are variable. Neither really requires a specific bias to exist for it to be true.
The vast majority of civil cases do not go to a jury, so again, I don't think this is good reasoning. The difference is mostly in discovery, which in an arbitration is stacked against any plaintiff bringing their claims compared to what they'd be entitled to in state or federal courts. That's probably the biggest reason they are less variable, in my experience.
>It is definitely possible that arbitrators interact with the company repeatedly and so there is gravity towards deciding in their favor, but I have no idea on the size of that effect.
Well according to you, you don't really have any idea of any of this, you are just reflecting your understandings which are based on what?
> Neither really requires a specific bias to exist for it to be true.
But that doesn't mean those biases are not present.