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Trust the Future You Trade: Lessons About Prediction Market Surveillance from the DACOM Summit
Sep 23, 2026
Trust the Future You Trade: Lessons About Prediction Market Surveillance from the DACOM Summit
Prediction markets are no longer a niche offering confined to a small corner of the internet. The rapid growth of prediction markets has launched them into the mainstream as a meaningful part of the financial ecosystem. But with that growth comes many of the same market integrity and compliance challenges that more traditional financial markets…
High Wire Act
Sep 22, 2026
High Wire Act
The federal statute known as the Wire Act (18 U.S.C. § 1084) has had a tumultuous history. For many years, the DOJ interpreted it to include restrictions on both sporting events and non-sporting contests. That changed dramatically in 2011, when the Office of Legal Counsel (“OLC”), responding to states seeking clarification before establishing state lotteries,…
In the Market for Judicial Review: Circuit Split on CFTC Preemption Makes SCOTUS a Predictable Destination
Sep 1, 2026
In the Market for Judicial Review: Circuit Split on CFTC Preemption Makes SCOTUS a Predictable Destination
The ongoing legal battle over whether the federal Commodity Futures Trading Commission (“CFTC”) or state regulators have the authority to regulate sports-related prediction markets is heating up. Last week, the U.S. Court of Appeals for the Ninth Circuit turned away a challenge by Kalshi, the largest prediction market in the United States, to the Nevada…
A Ticket to Win: Are Travel Points a Thing of Value?
Aug 21, 2026
A Ticket to Win: Are Travel Points a Thing of Value?
With the end of summer drawing near, many American families may be hoping to book a last-minute getaway. Some of those travelers may be hoping to take advantage of credit card points to book their trips on the cheap. Credit card points have become a ubiquitous part of American capitalism – particularly those offered by…
Betting on Technology: Bipartisan Proposal for Requiring Facial Recognition to Keep Minors from Wagering Online
Jul 29, 2026
Betting on Technology: Bipartisan Proposal for Requiring Facial Recognition to Keep Minors from Wagering Online
“As every parent knows, when you tell a kid not to do something, they almost always end up trying to do it,” said Congresswoman Kristen MacDonald Rivet (MI-8) about the recently introduced bipartisan “Facial Recognition to Protect Children Act” (“proposed Act”).[1] She continued, “[k]ids under the age of 18 shouldn’t be making bets, but now…
Massachusetts Explores iGaming Legalization: Opportunities, Risks, and Next Steps
Jun 26, 2026
Massachusetts Explores iGaming Legalization: Opportunities, Risks, and Next Steps
Massachusetts Explores iGaming Legalization: Opportunities, Risks, and Next Steps As states consider legalizing iGaming, legislatures must consider not only whether to legalize but also how the industry should be regulated. While legalization presents opportunities for increased tax revenue and consumer protections, it also raises concerns about responsible gaming, youth exposure, and enforcement against illegal operators….
Sunshine, Strategy, and Handshakes: Reflections on SBC Summit Americas 2026
Jun 23, 2026
Sunshine, Strategy, and Handshakes: Reflections on SBC Summit Americas 2026
There is something irreplaceable about the energy of a live industry event, and this year’s SBC Summit Americas in Fort Lauderdale delivered. From June 9–11, the Broward County Convention Center became the epicenter of the gaming, sports wagering, and iGaming worlds. While the South Florida sunshine was a welcome backdrop, the real heat was inside…
Lessons from the Restructuring of an Online Sports Betting Company
Jun 12, 2026
Lessons from the Restructuring of an Online Sports Betting Company
The U.S. has seen numerous casino bankruptcies, including, most recently, Maverick Gaming in July 2025. What it has not seen, until now, is the bankruptcy of an online sportsbook. Previously, when companies exited a state, they cut deals with as many creditors as possible and just left the state (or the United States). Examples of…
CFTC Predicting Litigation Success over Multiple States
Jun 8, 2026
CFTC Predicting Litigation Success over Multiple States
Through recent litigation actions, the Commodity Futures Trading Commission (“CFTC”) continues to stake out an aggressive position in the fight over who has the authority to regulate prediction markets. On May 18, 2026, Minnesota Gov. Tim Walz signed into law SF 4760, an omnibus public safety bill that made it a felony to operate or…
Conviction by Clickwrap?
May 20, 2026
Conviction by Clickwrap?
“Terms and conditions” are ubiquitous. They appear on baseball tickets,[1] in air conditioning repair agreements,[2] and, of course, on essentially every website we visit on a daily basis. By now, as the Seventh Circuit has put it, reasonable consumers “understand there will be terms and conditions associated with using a website.”[3] When disputes about terms…
