Where merely being subject to federal regulations or performing some functions that a government agency controls is not enough to transform a private entity into a federal officer.The 7th U.S. Circuit Court of Appeals reversed a decision by U.S. District Judge Tanya Walton Pratt, Southern District of Indiana.Panther Brands is a marketing and brand management company. In 2013, Panther signed a contract with IndyCar, which authorizes the Indy Racing League car series, to purchase various marketing benefits to provide to its …