Maryland’s Diversity Plan Requirement for Sports Betting Licensees
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 MoreStates Rush to Protect Consumers From Cyber Threats as Gaming Legislation Moves Across All States
In the four years since the Supreme Court struck down the federal ban on sports betting, more than 36 states and the District of Columbia have launched legal sports betting markets, with more than half of legalized states offering online and mobile options. [1] In most markets that offer online and mobile sports betting, the…
Read MoreNext Steps Toward Legalized Online and Retail Sports Betting in Massachusetts
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 MoreEuropean Union Agrees On Cryptocurrency Regulation, Excludes NFTs (For Now)
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 MoreIfrah Law At NFT.NYC: Insights and Discussions on NFT Gaming
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 MoreIs My Crypto Safe if My Exchange Declares Bankruptcy?
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 MoreResponsible Financial Innovation Act Proposal To Bolster CFTC Authority Over Crypto-Industry
Bipartisan legislation introduced in the Senate last month would mark the federal government’s first foray into cryptocurrency regulation, and it could be a welcome development as the industry navigates a period of regulatory and commercial uncertainty. On June 7, 2022, Senators Kirsten Gillibrand (D-NY) and Cynthia Lummis (R-WY) introduced the Responsible Financial Innovation Act (“RFIA”)…
Read MoreLegality of an All-Encompassing U.S. Sports Betting Advertising Strategy
As the legality of online sports wagering grows, so too does the level of advertising for such activities across the United States. The biggest commodity for sports wagering operators is their market share, gained through growing a loyal customer base of wagers who continue to place wagers on their platform. In order to increase their…
Read MoreDeposit Method Standards and Cryptocurrency in Regulated iGaming and Sports Betting Industries
Despite being the most widespread form of non-fiat money, cryptocurrency has struggled to gain traction as a broader means of exchange and payment, including in the internet gaming (“iGaming”) and sports betting industries. While there are no industry-wide standards for acceptable deposit methods, gaming regulators have tended toward two approaches, neither of which explicitly permits…
Read MoreKansas is Anticipated to be Next for Legalized Sports Betting
As part of a rumored effort to lure the Kansas City Chiefs to move their stadium to the state of Kansas, late on April 28th, 2022, and extending into the earliest hours on the 29th, Kansas state lawmakers voted in favor of a bill to legalize mobile and retail sports betting. Now, the bill is…
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