Deferred Action for Parents of Americans

Fifth Circuit Grants Injunction Allowing PredictIt Market to Continue Operating

Retrieved on: 
Friday, January 27, 2023
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WASHINGTON, Jan. 26, 2023 (GLOBE NEWSWIRE) -- Aristotle International announces that the Fifth Circuit Court of Appeals granted an injunction allowing the PredictIt political prediction market to continue operating while the Court considers granting longer term relief.

Key Points: 
  • WASHINGTON, Jan. 26, 2023 (GLOBE NEWSWIRE) -- Aristotle International announces that the Fifth Circuit Court of Appeals granted an injunction allowing the PredictIt political prediction market to continue operating while the Court considers granting longer term relief.
  • The case reached the Fifth Circuit after a lower court failed to issue a preliminary ruling in time to prevent certain effects on the market.
  • The injunction pending appeal granted by the Fifth Circuit on Jan. 26 will allow the PredictIt market to continue to operate while the Fifth Circuit considers the PredictIt traders' appeal.
  • Aristotle is the contract service provider for the PredictIt Market, which has operated under No-Action Relief CFTC 14-130 since 2014.

Aristotle Announces Panel Dismisses CFTC Motion Against 'Predictit' Plaintiffs

Retrieved on: 
Wednesday, January 18, 2023
Federal Election Commission, PredictIt, Congress, Commodity Futures Trading Commission v. Schor, FEC, United States Court of Appeals for the Fifth Circuit, Smart contract, Democracy, Aristotle, Hearing, Court, CFTC, Deferred Action for Parents of Americans, Trader, Tobacco, Appeal

WASHINGTON, Jan. 18, 2023 (GLOBE NEWSWIRE) -- A motions panel of the Fifth Circuit Court of Appeals, comprised of three judges, has denied the Commodity Futures Trading Commission's (CFTC) motion to dismiss the appeal of a case brought by more than a dozen plaintiffs, including PredictIt traders, educators, and market service provider Aristotle.

Key Points: 
  • WASHINGTON, Jan. 18, 2023 (GLOBE NEWSWIRE) -- A motions panel of the Fifth Circuit Court of Appeals, comprised of three judges, has denied the Commodity Futures Trading Commission's (CFTC) motion to dismiss the appeal of a case brought by more than a dozen plaintiffs, including PredictIt traders, educators, and market service provider Aristotle.
  • The Court decision ensures that the plaintiffs get a hearing, now scheduled for Feb. 8, 2023, in the Fifth Circuit Court of Appeals, the jurisdiction in which the lawsuit was filed.
  • We are pleased that the Fifth Circuit agrees that the plaintiffs deserve their day in court as soon as possible," said David Mason, Aristotle General Counsel and former Federal Election Commission (FEC) Chairman.
  • Aristotle is the contract service provider for the PredictIt Market, which has operated under No-Action Relief CFTC 14-130 since 2014.

'Predictit' Plaintiffs Make Case to Higher Court

Retrieved on: 
Wednesday, January 4, 2023
United States Court of Appeals for the Fifth Circuit, PredictIt, FEC, Fifth, Motion, United States Court of Appeals for the Federal Circuit, Smart contract, Federal Election Commission, Commodity Futures Trading Commission v. Schor, District court, File, Virginia General District Court, Court, Aristotle, Deferred Action for Parents of Americans, CFTC

In the filing, they argue that a district court has delayed action to the point where relief would otherwise come too late to protect the PredictIt Market which has functioned for more than eight years.

Key Points: 
  • In the filing, they argue that a district court has delayed action to the point where relief would otherwise come too late to protect the PredictIt Market which has functioned for more than eight years.
  • The Motion asks the Court to rule by Jan. 19, 2023.
  • This action asks the Fifth Circuit to enter an interim order preventing shut down of the PredictIt market while the Court considers the appeal.
  • Aristotle is the contract service provider for the PredictIt Market, which has operated under No-Action Relief CFTC 14-130 since 2014.

'PredictIt' Lawsuit Plaintiffs File Preliminary Injunction to Allow Trading Past Deadline

Retrieved on: 
Monday, October 3, 2022
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"All we are asking in the preliminary injunction motion is to continue to allow trading in existing, legally issued contracts and contract markets while the court decides the broader issues in the case," said David Mason, Aristotle General Counsel and former Federal Election Commission (FEC) Chairman.

Key Points: 
  • "All we are asking in the preliminary injunction motion is to continue to allow trading in existing, legally issued contracts and contract markets while the court decides the broader issues in the case," said David Mason, Aristotle General Counsel and former Federal Election Commission (FEC) Chairman.
  • "More than 14,000 individual traders hold positions in contracts involving the 2024 presidential election that the CFTC has ordered closed by Feb. 15, 2023.
  • Accordingly, the Plaintiffs are seeking a preliminary injunction against the Commission prohibiting markets that were already in place as of the Commission's revocation decision from continuing to trade to their natural conclusion."
  • Aristotle is the contract service provider for the PredictIt Market, which has operated under No-Action Relief CFTC 14-130 since 2014.

‘PREDICTIT’ LAWSUIT PLAINTIFFS FILE PRELIMINARY INJUNCTION TO ALLOW TRADING PAST DEADLINE

Retrieved on: 
Monday, October 3, 2022
Plaintiff, Research, Aristotle, Commodity Futures Trading Commission v. Schor, Commission, CFTC, Deferred Action for Parents of Americans, United States district court, Smart contract, Federal Election Commission, Investment, FEC, Contract, GLOBE, Online gambling, Market

The action follows a lawsuit filed on Sept. 9 in US Federal District Court for the Western District of Texas in response to CFTC action to force a wind-down of the popular event prediction market, PredictIt .

Key Points: 
  • The action follows a lawsuit filed on Sept. 9 in US Federal District Court for the Western District of Texas in response to CFTC action to force a wind-down of the popular event prediction market, PredictIt .
  • All we are asking in the preliminary injunction motion is to continue to allow trading in existing, legally issued contracts and contract markets while the court decides the broader issues in the case, said David Mason, Aristotle General Counsel and former Federal Election Commission (FEC) Chairman.
  • Accordingly, the Plaintiffs are seeking a preliminary injunction against the Commission prohibiting markets that were already in place as of the Commission's revocation decision from continuing to trade to their natural conclusion.
  • Aristotle is the contract service provider for the PredictIt Market, which has operated under No-Action Relief CFTC 14-130 since 2014.