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Cold Water on Insider Trading Fears: Prediction Markets Miss the 2026 NFL Draft
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April 29, 2026
Cold Water on Insider Trading Fears: Prediction Markets Miss the 2026 NFL Draft
By: John Mikuta
From April 23 to April 25, the National Football League (“NFL”) held its annual player selection draft. Over 800,000 fans gathered in Pittsburgh, Pennsylvania to watch Commissioner Roger Goodell announce the picks live, with millions more watching on TV and other digital platforms.[1] But the NFL Draft is not just a spectator event—both traditional sportsbooks and prediction-market platforms allowed customers to risk money predicting which player would be selected first, how many quarterbacks would be chosen, and when particular players would come off the board.[2] NFL Draft betting took off in 2020, when COVID-19-related shutdowns brought most sports to a grinding halt. Until then, a typical draft garnered only about $1 million in wagers. The 2020 NFL Draft, however, saw…
After Ciminelli: Are the Feds Betting Too Big on Wire Fraud?
April 23, 2026
After Ciminelli: Are the Feds Betting Too Big on Wire Fraud?
By: Abbey Block
Can a technical violation of a website’s terms and conditions constitute a violation of the federal wire fraud statute? A federal court will soon decide just how broadly the statute may sweep, and whether all such forms of potentially dishonest conduct are subject to such stringent criminalization. On Monday, all eyes will be on the District Court for the Eastern District of New York when…
The Cost of Moving Too Fast: Is Your Company Really Ready to Apply for a US Gaming License?
April 21, 2026
The Cost of Moving Too Fast: Is Your Company Really Ready to Apply for a US Gaming License?
By: Amanda Holi
The allure of the US gaming and gambling market is undeniable. As more states legalize sports betting and online gaming, it seems full of possibilities. But as someone who navigates these regulatory waters daily, I often have to ask new clients a tough question: Is your company actually prepared to apply for a US gaming license? Entering the US isn’t just about having a great…
Terraform Labs Ruling Reels Back Ripple Enthusiasm
August 4, 2023
Terraform Labs Ruling Reels Back Ripple Enthusiasm
By: George Calhoun
The recent ruling in SEC v. Ripple Labs had the cryptocurrency industry standing tall. As we discussed recently, however, the Ripple ruling was less favorable – or at least less comprehensive – than it was being portrayed. Another ruling from the Southern District of New York – SEC v. Terraform Labs Pte.Ltd. and Do Hyeong Kwon – has further tapped the breaks on a major…
The Upside to the College Betting Scandals
July 21, 2023
The Upside to the College Betting Scandals
By: Steven Eichorn
In May 2023, several high-profile sports betting scandals involving collegiate athletic personnel, including both coaches and players, came to light, spawning discussions about the relationship between sports integrity and sports betting. Two months after those reports, NCAA President Charlie Baker indicated that the NCAA has found 175 infractions of its sports-betting and gambling policy since 2018, with an additional 17 ongoing investigations. On its surface,…
Ripple Decision Shakes Up US Crypto
July 14, 2023
Ripple Decision Shakes Up US Crypto
By: George Calhoun
In an apparent boon to the cryptocurrency and broader blockchain industries, a judge in the US District Court for Southern New York ruled on Thursday that Ripple Labs Inc. did not violate federal securities laws in the offering and sale of the XRP token on public exchanges, meaning that the token could be relisted on public U.S. exchanges. Indeed, Coinbase, the United States’ largest cryptocurrency…
Thinking of Starting Your Own DFS Company?
July 3, 2023
Thinking of Starting Your Own DFS Company?
By: Sara Dalsheim
The expansion of daily fantasy sports (“DFS”) is on the rise in the United States. As the country prepares for the 2023-24 NFL season, it is around this time we see new products come to the market. Unlike sports betting, launching a DFS product has less regulatory barriers. Although, there are a few key states with regulatory compliance requirements that new contest operators should keep…
Circuit Court for the District of D.C. Upholds Compact: What this Means for Sports Betting in Florida
June 30, 2023
Circuit Court for the District of D.C. Upholds Compact: What this Means for Sports Betting in Florida
By: Abbey Block
Today, the Court of Appeals for the D.C. Circuit issued a decision in West Flagler Associates, Ltd. v. Haaland, that will have meaningful implications for the future of online sports betting in Florida along with the interpretation of the Indian Gaming Regulatory Act (“IGRA”). By way of background, in the spring of 2021, the State of Florida and the Seminole Tribe announced a compact under IGRA purporting…
