SectorWire
SearchGet the daily briefing
Menu

Seneca Nation and New York dispute status of gaming compact talks

Regulation

The Seneca Nation said negotiators had reached an agreement in principle on a new gaming compact, while New York Governor Kathy Hochul said talks were continuing and no deal had been reached. The tribe’s proposed framework would end revenue-sharing payments to the state and alter exclusivity protections; the current compact expired in December 2023. Niagara Falls estimated it could lose about $10m to $13m if casino payments ended.

The unresolved compact could affect casino exclusivity and funding received by three New York communities.

Request a correction

Keep reading

Regulation

Second Circuit denies Kalshi and Coinbase injunction requests in New York and Connecticut

The Second Circuit denied Kalshi’s requests to block enforcement action in New York and Connecticut, and Coinbase’s similar request in Connecticut, on 3 November. The panel said the companies had not shown that interim injunctions were warranted; the underlying cases continue.

At the U.S. Court of Appeals for the Second Circuit, Kalshi lost its bid for temporary relief against authorities in New York and Connecticut, and Coinbase was refused a preliminary injunction in Connecticut. On Tuesday, Nov. 3, a three-judge panel held that the prediction market companies cannot stop state regulators from pursuing enforcement action while their cases continue.

Continue reading