Uniswap Wins Complete Court Victory as Judge Dismisses Risley Lawsuit With Prejudice

On March 2, 2026, U.S. District Judge Katherine Polk Failla permanently dismissed all remaining claims in the Risley v. Universal Navigation case against Uniswap Labs and founder Hayden Adams. The ruling found that developers of Uniswap's open-source protocol cannot be held liable for scam tokens created and traded by anonymous third parties, following earlier federal securities claims that were thrown out in 2023. Together with the SEC ending a separate Uniswap investigation in early 2025, the decision marks a key moment for how courts and regulators are treating decentralized finance, even as experts caution that future rules may still focus on centralized elements such as interfaces and governance.