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Trust the Future You Trade: Lessons About Prediction Market Surveillance from the DACOM Summit
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September 23, 2026
Trust the Future You Trade: Lessons About Prediction Market Surveillance from the DACOM Summit
By: John Mikuta
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 have long encountered. Prediction markets have faced public scrutiny over high profile insider-trading incidents. Notably, one Polymarket user made over $500,000 by predicting that Iran’s Supreme Leader Ayatollah Ali Khamenei would be out of power shortly before a United States-Israel air strike killed him on February 28, 2026.[1] Separately, Commodity Futures Trading Commission (“CFTC”) recently opened investigations into potential insider trading on Polymarket contracts involving…
High Wire Act
September 22, 2026
High Wire Act
By: James Trusty
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, published an analysis of the Wire Act. After a thorough…
Robert Ward on Helping iGaming Clients Outmaneuver Lawsuit-Obsessed Adversaries
September 8, 2026
Robert Ward on Helping iGaming Clients Outmaneuver Lawsuit-Obsessed Adversaries
By: Ifrah Law
Today’s iGaming companies face new litigation threats as expansive consumer protection statutes spark lawsuits with sky’s-the-limit aspirations, sometimes backed by private funders. Clients of Ifrah Law have a staunch defender in Robert Ward – an agile litigator and case tactician who responds to the changing state of play with creative legal defenses and efficient case-closing strategies. Robert draws on federal clerkship experience and appellate defense…
When Sports Bettors Win, So Does the IRS
October 7, 2024
When Sports Bettors Win, So Does the IRS
By: Ifrah Law
Sports betting and adjacent industries have exploded in the United States. One area that continues to cause confusion is the taxation of these businesses – both for the companies and the individual players. For individual bettors, the IRS has clear rules on gambling income that predate the recent explosion of the sports betting industry. In short, the proceeds from a successful sports wager are taxable…
Illinois Expanding Regulations over Gaming Ads
October 2, 2024
Illinois Expanding Regulations over Gaming Ads
By: Jordan Briggs
The Illinois Gaming Board (“IGB”) adopted a new proposed uniform advertising regulation for sports wagering, casino gambling, and video gaming operators at its September meeting. Sports wagering is already subject to certain advertising and marketing restrictions, captured in “Rule 340.”[1] IGB proposed amendments to strengthen Rule 340 for sports wagering, and, for the first time, proposed to extend Rule 340 to casino gambling and video…
Maryland Regulators Pick Away at Latest Fantasy Offerings
September 6, 2024
Maryland Regulators Pick Away at Latest Fantasy Offerings
By: Robert Ward
On August 29, just as football fans were gearing up for the 2024-2025 NFL season, the Maryland State Lottery and Gaming Control Agency issued a new round of proposed regulations for both sports betting and daily fantasy sports. The proposed sports betting regulations address a wide range of topics, from geolocation and multifactor authentication to wind-down procedures for sportsbooks.[1] The proposed daily fantasy sports regulations,…
New Sports Betting Options as NFL Season Takes Off
August 27, 2024
New Sports Betting Options as NFL Season Takes Off
By: Jake Gray
The 2024-2025 NFL season is fast approaching—kickoff is set for Thursday night, September 5th, between the Baltimore Ravens and Kansas City Chiefs in which MVP quarterbacks Lamar Jackson and Patrick Mahomes will duel it out for the fifth time. This is their first matchup since the Chiefs knocked the Ravens out of the playoffs in the AFC Championship Game for the chance to play in…
Too Late to Get Licensed for the 2024 NFL Season?
August 22, 2024
Too Late to Get Licensed for the 2024 NFL Season?
By: Sara Dalsheim
Each NFL season, as more states join the legalized sports betting market, there are record-breaking numbers in wagering related revenue. Along with the rise in the number of states and revenues, there are more vendors and suppliers eager to work with and offer their products/services to the sports wagering operators. However, what these vendors may not realize are the regulatory barriers at play in such…
