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A Blog About Online Gaming and Entertainment Regulations

In the four years since the Supreme Court struck down the federal law prohibiting state-regulated sports betting in Murphy v. NCAA (2018), more than 30 states have legalized and are regulating sports betting in some capacity. Indeed, since the ruling, the nascent US sports betting industry enjoys rapid growth, especially in states where retail, mobile, and online betting platforms are permitted for consumers. For example, in November 2022 the state with the top total betting handle—the total of all money wagered by bettors—was New York, with a total of $1.5 billion wagered, which accounted for sportsbook revenue of $149 million and $76 million in state tax revenue.

Evidently, Americans are very eager to bet on sports, and presumably always have been.  So, why then was there a federal ban on regulated sports betting in the first place? As noted in the National Gambling Impact Study Commission Report from 1999:

Estimates of the scope of illegal sports betting in the United States range anywhere from $80 billion... Read more

On December 1, 2022, the Massachusetts Gaming Commission (“MGC”) held an Open Meeting to discuss a number of items ahead of the upcoming launch of retail sports wagering and later launch of online sports wagering. Of particular note was a topic brought up by the Director of the Investigations and Enforcement Bureau, Loretta Lillios, requesting… Read More

On Thursday, October 20th, state securities regulators from Alabama, Kentucky, New Jersey, and Texas filed coordinated enforcement actions to stop sales of non-fungible tokens (“NFTs”) by an organization in the country of Georgia. The actions accuse Slotie NFT (“Slotie”) of “illegally and fraudulently selling NFTs to raise capital relating to gaming in online and metaverse… Read More

The road to the launch of legalized sports betting in Maryland has been long and winding. From the start Maryland has been keen on developing requirements for diversity inclusion in its sports betting operations. Today, the State looks to finalize a positive step in that direction by holding a vote to approve a new “Diversity… Read More

The road to legalized sports betting in Massachusetts has been slow and lengthy, the lawmakers have spent five sessions on the question of sports betting legalization.  Today, the Massachusetts state House and Senate reached an agreement on a bill that would legalize online and retail sports betting on professional and some collegiate contests (H 5164). … Read More

European Union policymakers have taken the next step toward enacting a scheme for regulating cryptocurrency and other blockchain-based assets, as the Council of the European Union and the European Parliament provisionally agreed to approve new rules governing Markets in Crypto-Assets (“MiCA”).  The new rules would address a range of risks related to cryptocurrencies and related… Read More

In the third year following its inaugural event in 2019, NFT.NYC held its NFT.NYC conference from June 20th to June 23rd, 2022. And Ifrah Law was in attendance, alongside more than 15,000 other attendees in addition to the conference’s 1,500 speakers.  Featuring educational programming and informational panels about various NFT-related topics across seven different venues… Read More

Is My Crypto Safe if My Exchange Declares Bankruptcy?
July 14, 2022

Is My Crypto Safe if My Exchange Declares Bankruptcy?

By: George Calhoun and Jake Gray

Celsius Network LLC, one of the largest cryptocurrency lenders in the industry, filed for bankruptcy protection on Wednesday, July 13th. The filing comes just a month after the company halted customer withdrawals, swaps, and transfers “to stabilize liquidity” on account of extreme market conditions caused by a dive in cryptocurrency prices. As such, many crypto-investors… Read More