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A Blog About Online Gaming and Entertainment Regulations

Ifrah on NFTs: New iGaming Tokens Raise Novel Securities Questions
February 25, 2022

Ifrah on NFTs: New iGaming Tokens Raise Novel Securities Questions

By: Jacob Grubman and Jake Gray
Non-fungible tokens (“NFTs”) are becoming increasingly prominent in the broader blockchain and cryptocurrency market, as new projects rush to incentivize buyers with offerings of “unmatched benefits.” These utilities, however, do not come without potential legal drawbacks. In the first article of this series, we covered the basics of NFTs—unique virtual items recorded with immutable characteristics on the blockchain. We also introduced the concept of Utility NFTs, which serve some function beyond their value as collectible digital artifacts. Part II in our series highlighted newly developing applications of Utility NFTs in the online gaming space, detailing potential pitfalls of blockchain gaming and play-to-earn models under federal and state gambling laws. The third installment in this series examines NFTs that grant holders ownership rights in crypto casinos and casino networks. In light of this type of “utility,” we review the precedent and approach of the Securities and Exchange Commission (“SEC”) and examine whether these igaming-related Utility NFTs qualify as regulated investment contracts. Federal Securities Laws and Digital Assets The previous article of our... Read more
NFL Ratings Rise With Expansion Of Legal Sports Betting
February 18, 2022

NFL Ratings Rise With Expansion Of Legal Sports Betting

By: Jacob Grubman

With Super Bowl LVI two days away, the relationship between sports betting and fan engagement has never been clearer. In 2021 alone, 11 states either legalized or launched sports betting in some form, with seven going online at or near the start of the NFL season. And the developments have gone both ways: In April… Read More

Ifrah Law on NFTs: Blockchain Gaming and Gambling Compliance
February 9, 2022

Ifrah Law on NFTs: Blockchain Gaming and Gambling Compliance

By: Jake Gray and Jacob Grubman

In the first article of this series, we covered the basics of non-fungible tokens (“NFTs”)—unique virtual items recorded with immutable characteristics on the blockchain. We also introduced the concept of Utility NFTs, which are NFTs that serve some function beyond their value as collectibles. Part II in our series highlights newly developing applications of Utility… Read More

Ifrah Law on NFTs: What is an NFT?
February 7, 2022

Ifrah Law on NFTs: What is an NFT?

By: Jake Gray and Jacob Grubman

It would be hard to over-exaggerate the hype that has grown around non-fungible tokens (“NFTs”) over the past year as a result of the meteoric rise of Bitcoin, cryptocurrencies, and other blockchain-based technologies. NFT sales skyrocketed in 2021 to $25 billion, a colossal increase from $94.9 million in 2020. [1] And the number of unique… Read More

On January 31, 2022, Ohio Casino Control Commission (“Commission”) released its third batch of draft rules for legal sports wagering.  So far, none of the Commission’s batches of rules have discussed requirements for marketing affiliates. Although, the Commission also released on January 31, 2022, a Sports Gaming FAQs page on their website[1], which dedicates an… Read More

April 7, 2011 saw a historic moment in igaming as the District of Columbia became the first American jurisdiction to enact a law that allows online poker wagering. The amendment, called the “Lottery Modernization Act of 2010” for the year it was introduced, is part of a larger budget bill passed by the D.C. Council… Read More

Congratulations, you won a sports bet! What happens now? In the five states where sports betting is now legal, any qualifying individual who places and wins a sports bet can exchange their winning ticket for payment. That means any individual who can prove they are over 21 through an in-person check or the latest digital… Read More

Uses and Abuses of Decentralization in Gambling
December 7, 2021

Uses and Abuses of Decentralization in Gambling

By: Jake Gray

Decentralization has been the selling point of many platforms using blockchain-based technologies including cryptocurrencies such as Bitcoin. Many believe that decentralization by blockchain has the potential to disrupt multiple industries from finance to art. These decentralized equivalents are called ‘dapps.’ And over the past few years there have been several attempts to decentralize and disrupt… Read More