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Missouri Votes for Legalized Online and Retail Sports Betting
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November 6, 2024
Missouri Votes for Legalized Online and Retail Sports Betting
By: Sara Dalsheim
Yesterday, the citizens of Missouri voted in favor of Amendment 2 to legalize online and retail sports betting by a small margin of under 7,500 votes. Missouri is now set to be the 39th state to legalize sports betting. Under the amendment, the retail and online sports wagering rights were granted to Missouri casinos and professional sports teams, each with the right to have one retail and one online license. The amendment also permits the state to offer two online sports betting licenses without a link to a Missouri casino or professional sports team. Individuals physically located within Missouri who are at least 21 years old will be able to place sports bets. The approved amendment provides that sports betting…
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A Modest Proposal to Reduce AI Liability: Add Warnings
November 4, 2024
A Modest Proposal to Reduce AI Liability: Add Warnings
By: Abbey Block
CONTENT WARNING: This blog includes discussion of suicide.[1] Imaginary friends are a common staple of childhood. Indeed, many children invoke the companionship of imaginary friends – relying on their creativity and imagination for entertainment and friendship. However, nowadays, young people no longer need to rely solely on their own creativity to conjure up a fictional companion. Rather, generative artificial intelligence (“AI”) programs such as Character.AI…
CFTC “Special Rule” Interpretation Led to an October Surprise
October 23, 2024
CFTC “Special Rule” Interpretation Led to an October Surprise
By: Robert Ward
On October 2, 2024, the Court of Appeals for the District of Columbia Circuit issued a decision that permitted KalshiEx LLC (“Kalshi”) to legally offer election contracts, which allow buyers to put down money based on their predictions as to party control of Congress and presidential election results.[1] This decision, and the district court decision that the Commodity Futures Trading Commission (“CFTC”) sought to stay,…
Is My Crypto Safe if My Exchange Declares Bankruptcy?
July 14, 2022
Is My Crypto Safe if My Exchange Declares Bankruptcy?
By: George Calhoun
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 find themselves concerned about the safety of their digital assets…
Responsible Financial Innovation Act Proposal To Bolster CFTC Authority Over Crypto-Industry
July 8, 2022
Responsible Financial Innovation Act Proposal To Bolster CFTC Authority Over Crypto-Industry
By: Jake Gray
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”) in the Senate, which aims to establish a comprehensive regulatory…
Legality of an All-Encompassing U.S. Sports Betting Advertising Strategy
June 21, 2022
Legality of an All-Encompassing U.S. Sports Betting Advertising Strategy
By: Sara Dalsheim
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 customer base, sports wagering operators are turning to advertisements of…
Deposit Method Standards and Cryptocurrency in Regulated iGaming and Sports Betting Industries
June 13, 2022
Deposit Method Standards and Cryptocurrency in Regulated iGaming and Sports Betting Industries
By: Jake Gray
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 the use of cryptocurrency. Gaming regulators in the United States…
Kansas is Anticipated to be Next for Legalized Sports Betting
May 4, 2022
Kansas is Anticipated to be Next for Legalized Sports Betting
By: Sara Dalsheim
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 headed to Governor Laura Kelly’s desk for signature. Gov. Kelly…
