Troutman Pepper Locke State Attorneys General Team

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On October 20, a coalition of 21 state attorneys general (AG), led by Iowa AG Brenna Bird, submitted a letter to Securities and Exchange Commission (SEC) Commissioner Hester M. Peirce in response to her February statement titled “There Must Be Some Way Out of Here.” Peirce’s statement invited public input to assist the SEC’s Crypto Task Force with clarifying regulatory approaches for digital assets. The letter from the AGs addressed the pivotal question of establishing a regulatory structure that balances clarity with the protection of state authority and consumer interests.

The Agriculture Improvement Act of 2018 (the 2018 Farm Bill) legalized industrial hemp for commercial use to support American farmers and create a regulated industrial hemp market. The 2018 Farm Bill defined “hemp” as “the plant Cannabis sativa L. and any part of that plant, including the seeds thereof and all derivatives, extracts, cannabinoids, isomers, acids, salts, and salts of isomers, whether growing or not, with a delta-9 tetrahydrocannabinol [THC] concentration of not more than 0.3 percent on a dry weight basis.” The 2018 Farm Bill also removed hemp from the definition of “marihuana” under the Controlled Substances Act. Since 2018, many in the hemp industry have relied on language in the 2018 Farm Bill’s definition of “hemp” (sometimes referred to as the 2018 Farm Bill loophole) to take the position that it authorizes the production and sale of intoxicating, hemp-derived THC products (e.g., beverages, gummies, candies, etc.) that are derived from cannabis plants containing less than 0.3% delta-9 THC on a dry-weight basis. On October 24, the National Association of Attorneys General (NAAG) sent a letter to congressional committee chairs, signed by 39 state and U.S. territory attorneys general (AGs), urging immediate legislative action to close the loophole.

Troutman Pepper Locke’s State Attorneys General Practice Group, was mentioned in the November 4, 2025 Law.com article, “Robinhood Shareholders Gleeful Over Firm’s ‘Prediction Market’ Push, But State AGs Say It’s Illegal Gambling.”

The outcome of the Massachusetts litigation and litigation in other states “will set important precedent for how prediction markets are treated…

Matt Berns, former chief counsel to the New Jersey attorney general (AG) and deputy chief counsel to the New Jersey governor, and previously a trial attorney with the U.S. Department of Justice, has joined Troutman Pepper Locke’s Regulatory Investigations, Strategy + Enforcement (RISE) practice and nationally recognized State AG team.

Washington Attorney General (AG) Nick Brown proposed updates to Washington State’s Public Records Act (PRA) model rules — the advisory playbook many state and local agencies rely on when handling records requests. The proposal aims to reduce backlogs and improve response times, with a public hearing set for November 6, and written comments invited through November 17. 

Troutman Pepper Locke is proud to sponsor the Government Investigations & Civil Litigation Institute’s 11th Annual Meeting in Santa Ana Pueblo, New Mexico. Ashley Taylor will be moderating the “Navigating State Jurisdictional Waters: State Attorneys General and Their Reach” session, Ghillaine Reid will be a panelist on the “AI Ethics: Guardrails and Grey Areas in…

On September 9, 2025, the Court of Appeal of the State of California upheld California Attorney General (AG) Rob Bonta’s trial-court victory against a business and its owner for violations of California’s unfair competition law (UCL) based on allegations of the illegal sale of credit insurance, which largely targeted the business’s Latino immigrant customer base.