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New from CommonWealth Beacon |
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NEW CODCAST: Cape and Islands leaders fear that a lack of available housing for the tourism-dependent region’s workforce could hamstring its future. On the latest episode of The Codcast, Jennifer Smith hosts Sen. Julian Cyr and Janet Lesniak, executive director of the Local Journalism Project, to discuss employee housing and the new strategy taken by the Provincetown Independent weekly newspaper, which bought a condo in town to house three reporters. |
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OPINION: Caroline Rose, an 8th grade English teacher in Boston, says – whether we like it or not – AI is coming to classrooms, and teachers need to spend time now debating its use, experimenting, and figuring out how it fits in. |
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Clash with prediction market giant Kalshi reaches SJC | | | |
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Justices on the state’s highest court signaled that prediction market Kalshi is “swimming upstream” in its attempts to do an end-run around state sports gambling regulations. This thrusts the Bay State into a national debate over whether the booming prediction markets offer commodities subject to federal regulation or run-of-the mill sports betting traditionally regulated by the states. |
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In September, Massachusetts Attorney General Andrea Campbell sued Kalshi for offering what she claims equates to “illegal sports betting” without proper licensing. The lawsuit accuses Kalshi of skirting its responsibility to implement gambling guardrails, including adherence to the state’s legal betting age of 21. A Suffolk Superior Court judge issued an injunction in February, prohibiting Kalshi from operating in the state. |
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Kalshi wants the state to stay out of it, arguing it can only be regulated by the federal authorities because its offerings are no different from other derivatives such as financial swaps. |
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Derivatives were placed under the jurisdiction of the Commodity Futures Trading Commission (CFTC) by the 2010 Dodd Frank Act so a single authority could regulate swaps after the 2008 financial crisis. But several states – including Massachusetts – argue that Kalshi functions, advertises, and profits as a sportsbook because among its offerings are point-spread bets, over/under bets, proposition bets, and parlays. |
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The case in Massachusetts is just one of several involving Kalshi nationwide. Earlier this year, Arizona, Illinois, Connecticut, and New Jersey sent letters demanding the company – and other prediction market firms – cease operations within their borders. On April 6, a federal appeals court ruled New Jersey cannot classify Kalshi’s operations as sports betting and regulate it as such. Arizona’s attorney general filed criminal charges against the company for allegedly operating an illegal gambling business and sanctioning betting on the 2024 election cycle. |
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In arguments on Monday, the Massachusetts justices grilled Kalshi on how their swaps fundamentally differ from sports bets. Grant Mainland, an attorney for Kalshi, argued the company’s offerings resemble the derivatives overseen by the CFTC. |
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More from CommonWealth Beacon |
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COURT-TAX OVERLAP: Beacon Hill Democrats sweating the $5 billion annual hit to state revenue presented by an income tax cut ballot question will be hoping the state’s highest court gives them an easy way out when it weighs the measure’s eligibility to go before voters on Monday. Jennifer Smith assesses the outlook. |
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DATA CENTER: Lowell residents filed a first-of-its-kind lawsuit alleging that state environmental regulators improperly approved air quality permits for a controversial data center. Jordan Wolman has more. |
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OPINION: James Lomastro, of Dignity Alliance Massachusetts, warns that proposed budget cuts threaten the progress Massachusetts has made since a landmark 2024 legal settlement aimed to transition nursing home residents with serious mental illnesses into community settings. |
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INCOME TAX: One SJC justice signaled the attorney general’s summary of an income tax-cut ballot question “is not great” as the court weighs whether those flaws warrant blocking the measure from going before voters. (State House News Service – paywall) |
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AI: Artificial intelligence scribes are becoming more common in medicine, and about 3,000 providers at Mass General Brigham now use the tools that some praise as “transformational technology.” (WBUR) |
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DEAD END: Despite vowing process changes to boost their transparency, lawmakers are still quietly killing hundreds of bills without any recorded committee votes that would force them to take a public stance. (The Boston Globe – paywall) |
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IMMIGRATION: The number of applicants at Boston’s latest Citizenship Day dropped significantly amid concerns about the Trump administration’s harsh stance toward immigrants, even those who are legally present and seeking naturalized citizenship. (GBH News) |
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MICROMOBILITY: Gov. Maura Healey filed new legislation to regulate e-bikes, scooters, mopeds, and other “micromobility” devices that she said face “unclear and inconsistent” rules. (StreetsblogMASS) |
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