JPMorgan reportedly debanked the prediction market Polymarket last year over regulatory concerns. This incident underscores the compliance risks banks face when servicing prediction markets.
Technology
Posted inData Privacy
Data regulator issues privacy guidance over smart devices
Companies that manufacture smart devices are set to face increased scrutiny from data regulators following concerns that most consumers are unaware of how they collect, use and sell their personal information.
Posted inArtificial Intelligence
California’s AI labeling law takes effect, testing compliance with missing detection tools
California’s AI Transparency Act took effect Aug. 2, requiring generative AI developers to disclose AI-generated content. But a new investigation found several tech companies aren’t following the requirements yet.
Posted inArtificial Intelligence
New transparency rules come into force for AI-generated content under EU’s AI Act
Key transparency rules aimed at informing consumers when they are interacting with AI or are exposed to AI-generated content came into effect from August 2 across the EU.
Posted inTechnology
CFTC invokes emergency authority to keep Kalshi operating amid New York lawsuit
The CFTC invoked its emergency authority to order Kalshi to keep operating, after the company notified the agency of a market emergency triggered by New York’s lawsuit against it.
Posted inHealthcare
OSF Healthcare pays $552,250 for HIPAA violations from ransomware breach
Illinois-based OSF Healthcare System has agreed to pay $552,250 to resolve potential HIPAA violations tied to a 2021 ransomware attack.hea
Posted inBest Practices
Beyond breaching privacy: The compliance risks of workplace surveillance
When organizations implement workplace surveillance tools, the conversation often begins with privacy. Questions about employee consent, data collection, retention periods, and legal compliance are essential. But as workplace monitoring technologies become more sophisticated, focusing exclusively on privacy risks often overlooks a much larger challenge.
Posted inWhistleblowers
Whistleblower accuses Mayo Clinic of compromising patient care, privacy with AI tool misuse
A former executive at Mayo Clinic has accused the organization of using AI tools that compromised patient privacy, manipulated data, and blew past institutional review protocols.
Posted inBest Practices
The inference gap: Auditing the AI risk no framework requires you to see
When external regulation lags, internal audit becomes the only line of defense. AI’s environmental footprint is a live governance exposure, and right now, almost no one is auditing it. A company can run an AI product billions of times a day with no obligation to measure what it consumes: No requirement to report the energy […]
Posted inRegulatory Enforcement
New York is the latest state to sue Kalshi for hosting an illegal gambling operation
New York Attorney General Letitia James sued prediction market platform Kalshi on July 31, alleging the company has been operating an unlicensed gambling business in violation of state law. The lawsuit is the latest legal challenge facing Kalshi, which is already battling several other states as courts determine what regulations, if any, the company must follow.
