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| №268 | Friday, September 25, 2026 | 06:30 AM ET | |||||
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Independent reporting on tech & markets
TechEchelon
● The Brief
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Good morning. New York's fight with the prediction-market industry just widened. Attorney General Letitia James sued Polymarket on Thursday, accusing it of running an illegal, unlicensed gambling operation, and the company didn't wait around to respond — it filed its own countersuit in federal court the same day, arguing that states have no authority to regulate what it says are federally overseen derivatives exchanges. This is the second such suit New York has brought against a major prediction market in two months, following an almost identical case against Kalshi, and it comes alongside similar gambling allegations the state has leveled at Coinbase and Gemini. The core question is jurisdictional: who gets to decide whether betting on real-world events is gambling or a legitimate financial product, states or federal regulators. However this plays out, it will shape how an entire emerging asset class is allowed to operate in the country's most consequential financial regulatory market. Below: today's five recent stories across markets, AI, policy, and security. | |||||
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● THE BRIEF · DAILY
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