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And to all of the people behind the scenes Giron Perez, Joey Bote, Sid Isidro, Roger Castro, Tristan Villagracia, Jeremy Beltran, Ednelyn Agulto-Manalo, Jeh Almazan, Ian Ignacio, Red Bargan, Kimmy Maclang, Xeirus Sta. Ana, Lea Nicolle Luat, Catherine Resurreccion, Alexandre Esguerra, Jayson Pimentel, Samori Joseph, Cindy Padilla, Amanda Lopez, Rogelio Gabiano, Aries Hegina, Fawn Labrie, Anthony Dohm, Adrian Eden, Paolo Ramos, Emily Haruko Leeb, Mani Chagtai, Brad Lancaster, Carl Rivera, Alfredo Abaroa, Shannon M, Aphol Angeles, Vine and Zen Alvarez, Frey Sotelo, Daves Biag, Idn Aguliar, Angela Alano, Jeremy Yap and George F.
I thank you from the bottom of my heart. I hope you enjoyed it as much I enjoyed working with you.
I’ll be behind the scenes helping tie up the loose ends, and then I’ll be taking a much-needed vacation staycation while I contemplate the next chapter.
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On Wednesday, New Jersey Attorney General Jennifer Davenport announced that her office had filed a petition for writ of certiorari following an appeals court verdict from earlier this year that went in favour of prediction markets. That 2-1 verdict from the Third Circuit Court of Appeals was handed down in April, and New Jersey had until Thursday to petition the high court.
The petition poses the question of whether the Dodd-Frank Wall Street Reform and Consumer Protection Act, which was enacted in 2010 in the aftermath of the Great Recession, “preempted states from regulating sports bets that occur within their jurisdictions if those bets are offered on markets registered with the Commodity Futures Trading Commission”. Prediction markets have argued that their event contracts are financial derivatives regulated by the CFTC whereas many states contend that they are simply sports bets by another name.
There is no guarantee the Supreme Court will hear the case but a separate appeals court ruling from 28 August bolsters its chances. In that case, a three-judge panel from the Ninth Circuit ruled unanimously in favour of the state of Nevada, creating a circuit court split, which is a hallmark of many Supreme Court cases.
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According to the court’s statement, the judges rejected challenges from gaming hall operators and said the city’s public decision was legally sound.
The ruling preserved a revenue measure the city says was designed to bring in up to €1 million according to the court’s own summary.
Andreas Braun, owner of four arcades in Wiesbaden, filed an objection and constitutional complaint against the tax rate in April last year according to local reporting. He argued that the tax rise had provided a ‘strangling’ effect to business and that it consumed operator profits.
