The US Commodity Futures Trading Commission is suing Illinois, Arizona and Connecticut for attempting to outlaw or regulate prediction markets like Kalshi and Polymarket. The CFTC believes it has sole jurisdiction to regulate these platforms, and that states attempting to classify them as illegal gambling are overstepping their authority.
CFTC defines prediction markets as “designated contract markets” where futures contracts are traded, essentially letting people bet on the outcome of events (for example, who will be the Democratic nominee for president in 2028). And because futures contracts are financial instruments distinct from traditional bets, they arguably fall under the supervision of the CFTC rather than the sports gambling authorities of individual states.
Multiple states, including the three the CFTC is suing, have challenged that interpretation of what prediction markets are and how they operate. Nevada sued Kalshi in February for operating a sports gambling market without proper licenses, a lawsuit made possible because a federal appeals court declined to prevent Nevada from pursuing its case. Arizona’s attorney general filed a lawsuit against Kalshi in March along similar illegal sports gambling lines, and because the platform let people bet on Arizona elections, which violates state law. Both Illinois and Connecticut have also sent Kalshi and other prediction markets cease-and-desist letters, ordering them to stop advertising and offering their services in their respective states.
“The CFTC will continue to safeguard its exclusive regulatory authority over these markets and defend market participants against overzealous state regulators,” CFTC Chairman Michael S. Selig said in a statement. “This is not the first time states have tried to impose inconsistent and contrary obligations on market participants, but Congress specifically rejected such a fragmented patchwork of state regulations because it resulted in poorer consumer protection and increased risk of fraud and manipulation.”
Attempts to regulate, or in this case, stave off regulation of predication markets are complicated by the fact that President Donald Trump’s family has ties to the industry. Donald Trump Jr. is a paid advisor for Kalshi and investor in Polymarket. Major transactions made before recent US military actions in Iran have also suggested that people close to the government might be trading on prediction markets with insider knowledge. Some prediction markets have implemented new rules to prevent insider trading, but given the circumstances, it makes sense that states wouldn’t be satisfied with companies policing themselves.
Lost a crucial document because your system crashed before you could save it? Worry no more! Microsoft Word has introduced an automatic save option that regularly backs up your work, so you’ll never lose your progress again.
Users will now be able to manage their Word documents without thinking about saving them manually. The new Microsoft Word update allows users to automatically save their documents to the cloud as soon as they start documenting any content piece.
Raul Munoz, the Senior Product Manager at Microsoft, has stated about the new feature, “We are modernizing the way files are created and stored in Word for Windows! Now you don’t have to worry about saving your documents: Anything new you create will be saved automatically to OneDrive or your preferred cloud destination.”
Microsoft additionally hints at introducing similar features for Windows Excel and PowerPoint, which are now live.
How Does the Auto-save Feature Work?
The auto-save option can be accessed and used effectively with the compatible Word for Windows version. Let’s understand how the process works-
Primarily, users need to create a fresh document in Word and switch the AutoSave option on. Unlike the previous default document name- DocumentN, the autosave feature saves the files with the date.
To change the name of the file and its location, users need to select Save or press Ctrl+S. After selecting the file name and location, press Confirm to save the changes.
In case users try to close the file before it gets saved, a dialog displays on the screen asking whether they intend to Discard or Keep the file. If users try to close empty files, Word discards them without asking for confirmation.
Availability of the Auto-Save Feature of Microsoft Word Update-
The AutoSave feature of Microsoft Word update is available to users with Version 2509 (Build 19221.20000) or newer. This advancement is set to enhance accessibility and address the challenge of lost files. Similar features have been introduced on Windows Excel and PowerPoint as well.
Advantages of the Latest Microsoft Word Update
Microsoft Word’s new auto-save feature will unlock several benefits for users. Alongside increased security, it offers flexible file management capabilities. Let us discuss other significant advantages-
Flexibility in File Storage and Control: Users can store and manage their files more flexibly than ever. As users are in charge of the documents, they can adjust file names and locations to save, organizing the files according to convenience.
Never Lose Your Files: The auto-save feature in Microsoft Word addresses the challenge of losing files due to not saving them manually. As soon as you start making progress in a file, it automatically gets saved.
Enhanced Security and Compliance: Files saved in your organization’s cloud servers already adhere to the set security guidelines and practices. Hence, users do not need to think about protecting the files separately.
Increased Accessibility: The auto-save feature enables enhanced accessibility of Word files. It can be accessed from diverse types of devices and platforms once shared, including Android, iOS, and web browsers. Changes made to the file will get synced on all devices and platforms.
Better Collaboration: The AutoSave feature has made collaboration within and across teams easier. Users can easily share the cloud file and initiate collaboration by making changes, adding comments, and resolving comments in real time.
Agentic AI Support: The Word files are now equipped with Copilot agentic AI support. Users can unlock AI-powered capabilities whenever they need to improve or update their documents. Nevertheless, to use Copilot in Word, a Microsoft 365 Copilot license is needed.
Additional Tips:
Users will be able to easily change the location for new documents. Right-click on any cloud folder in the File section of Word, then select Set as Default Location to choose the location.
Users can manage how their files are created, whether in the traditional manner or automatically in the cloud, in the Save tab of Word Options, and opt in or opt out for Create new files in the cloud automatically.
Key Elements to Keep in Mind-
When a new Word session is started while another is running, the new file does not autosave. Hence, users need to close the previous file to enable the auto-save option for new files.
Users may sometimes encounter a delay in refreshing the recent files list while changing the name of a document.
If users disable the option for Show the Start screen when this application starts, remember that the first file they create will not autosave automatically.
Concluding Remarks!
Microsoft has been making significant advancements in its 365 Office platforms for better collaboration and enhanced productivity of diverse teams within an organization. With the integration of Copilot and flexible features, the firm is aiming to boost user experience and accessibility of the tools, including Word for Windows.
Learn about the major technological shifts and practices with KnowledgeNile!
FAQs:
1. What is the AutoSave feature in Microsoft Word?
Answer: The AutoSave feature in Microsoft Word lets users save their files automatically.
2. What is the purpose of AutoSave?
Answer: The AutoSave feature aims to reduce the challenges of data loss in unwanted circumstances, such as power shortages and device failures.
3. Where are AutoSave Word documents stored?
Answer: Automatically saved Word files are stored in cloud storage, like OneDrive.
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