Ifrah on NFTs: New iGaming Tokens Raise Novel Securities Questions

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…

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NFL Ratings Rise With Expansion Of Legal Sports Betting

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…

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Ifrah Law on NFTs: Blockchain Gaming and Gambling Compliance

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…

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Ifrah Law on NFTs: What is an NFT?

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…

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Ohio Sports Betting Advertising and Marketing Affiliate Guidance

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…

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D.C. Becomes First Place in U.S. to Legalize Online Poker

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…

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Now That Sports Betting Is Legal, Here’s How You Get Paid

winner

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…

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Uses and Abuses of Decentralization in Gambling

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…

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