US DOJ, SEC back suit against Nvidia, EU drafting AI ‘Code of Practice’ — Law Decoded
2024-10-08

The United States Department of Justice and the Securities and Exchange Commission told the Supreme Court that an investor class-action lawsuit against Nvidia should be approved.
Ripple CEO on SEC appeal: “We’ll fight in court for as long as we need”
Brad Garlinghouse, CEO of Ripple Labs, has vowed to fight the SEC in court after the regulator said it would appeal a district court decision on its case against the crypto firm.
Garlinghouse wrote in an X post that the firm would “fight in court for as long as we need,” adding that the SEC has “lost on everything that matters” in the case.
In the public statement, Garlinghouse criticized the SEC, noting that if Chair Gary Gensler and the SEC “were rational,” they should have “moved on from the case long ago.”
The Ripple Labs CEO also said that XRP’s status “as a non-security is the law of the land today,” arguing that it will not change despite the SEC’s attempted appeal to the court.
US appeals court greenlights election prediction markets
A US federal appeals court has greenlit Kalshi, a derivatives exchange, despite opposition from regulators to prevent listing event contracts tied to US election outcomes.
The ruling set a precedent for election prediction markets to operate within the US, with potential implications for platforms like crypto-related prediction market Polymarket.
On Oct. 2, the US Court of Appeals for the District of Columbia Circuit ruled against the Commodity Futures Trading Commission, preventing the commission from hindering Kalshi’s initiative.
According to the statistics on November’s US presidential elections on Polymarket, over $1 billion in bets was riding on the outcome as of Oct. 2.