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Federal Circuit Clarifies Prejudice Review In Bid Protest Cases

Client Alert | less than 1 min read | 04.26.05

Explaining away seemingly contradictory precedent, the Federal Circuit in Bannum, Inc. v. U.S. (Apr. 21, 2005) clarified that, while the merits are reviewed on appeal de novo under the Administrative Procedure Act's "arbitrary and capricious or in violation of law" standard, the determination of whether a violation of law is prejudicial requires fact finding by the Court of Federal Claims and is reviewed for "clear error." Applying the clear error standard to this case, the appellate court found none in the trial court's determination that the violation had not prejudiced the protester.

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Client Alert | 6 min read | 03.18.26

CFTC Takes Additional Steps Toward Prediction Market Regulation: What You Need to Know

On March 12, 2026, the U.S. Commodity Futures Trading Commission (CFTC) took formal steps toward establishing additional regulations for prediction markets. The agency issued an Advanced Notice of Proposed Rulemaking (ANPRM) soliciting public input on potential new rules, and separately, released staff guidance outlining its views on how existing rules apply to prediction market platforms currently in operation. These developments signal a significant shift in the regulatory landscape for an industry that has grown rapidly over the past year....