Challenging PCAOB’s Modern Star Chamber Proceedings; CFTC Tries to Shut Down PredictIt Market

Challenging PCAOB’s Modern Star Chamber Proceedings

NCLA has filed a complaint in the U.S. District Court for the Northern District of Texas seeking declaratory and injunctive relief from the Public Company Accounting Oversight Board’s secret, unaccountable, and inherently biased prosecutorial processes. With no meaningful supervision by any government official appointed or directly removable by the President, and using funds raised by private taxes with no Congressional appropriation or oversight, PCAOB has investigated and brought a secret prosecution seeking to strip NCLA’s client of his livelihood and impose quasi-criminal monetary penalties—without a jury trial, due process of law, an impartial adjudicator, or any constitutional accountability.

Mark and NCLA Senior Litigation Counsel Russ Ryan discuss NCLA’s complaint against PCAOB.

CFTC Tries to Shut Down PredictIt Market

After the Commodities Futures Trading Commission (CFTC) issued an order to the PredictIt political prediction market to close by February 15th, 2023, a group challenged the agency in federal court, arguing that the shutdown order violates the Administrative Procedure Act. The Fifth Circuit Court of Appeals has now granted an injunction allowing the PredictIt market to continue operating while the court considers granting longer term relief.

Vec and Russ talk through the PredictIt market and CFTC’s actions.