News & Analysis as of July 28, 2025

Statutory Interpretation › Commodity Exchange Act (CEA)

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Judge Starr’s Ruling in Metals.com Case Raises Jurisdictional Questions About CFTC Authority

Pillsbury Winthrop Shaw Pittman LLP on 7/25/2025

A recent ruling by a Texas federal court adopts a narrow, textually driven reading of the Commodity Exchange Act, questioning whether gold and silver bullion are “commodities” within the statute’s scope....more

The Right to Regulate: Kalshi, Federal Preemption, and the Fight for State Gaming Authority

Troutman Pepper Locke on 7/7/2025

A lawsuit between KalshiEx LLC (Kalshi) and New Jersey state gaming regulators in the Third Circuit is testing the balance between federal commodities regulation and state authority regarding sports betting. Kalshi operates...more

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Statutory Interpretation › Commodity Exchange Act (CEA)

Judge Starr’s Ruling in Metals.com Case Raises Jurisdictional Questions About CFTC Authority

The Right to Regulate: Kalshi, Federal Preemption, and the Fight for State Gaming Authority

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