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In the Market for Judicial Review: Circuit Split on CFTC Preemption Makes SCOTUS a Predictable Destination
FEATURED
September 1, 2026
In the Market for Judicial Review: Circuit Split on CFTC Preemption Makes SCOTUS a Predictable Destination
By: John Mikuta
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 Gaming Control Board’s letter ordering it to cease and desist operations in the state of Nevada.[1] The Ninth Circuit held that the lower court did not abuse its discretion in concluding that Kalshi was not entitled to a preliminary injunction because it did not establish a likelihood that the federal Commodity Exchange Act (“CEA”) preempts state gaming regulations. The Ninth Circuit’s ruling stands in direct…
A Ticket to Win: Are Travel Points a Thing of Value?
August 21, 2026
A Ticket to Win: Are Travel Points a Thing of Value?
By: Abbey Block
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 airlines, often referred to as “travel points.” According to the…
Advertising Prediction Markets? The CFTC Just Sent a Clear Message to Affiliates.
August 17, 2026
Advertising Prediction Markets? The CFTC Just Sent a Clear Message to Affiliates.
By: Kyra Pulliam
The Commodity Futures Trading Commission (CFTC) recently issued guidance directed to designated contract markets (DCMs) concerning the marketing and offering of event contracts. The guidance was addressed to DCMs because no swap execution facilities (SEFs) currently list event contracts. However, the CFTC’s analysis is equally applicable to futures commission merchants (FCMs) and introducing brokers (IBs), as well as the advertising affiliates and marketing partners that…
Ifrah Law on NFTs: Blockchain Gaming and Gambling Compliance
February 9, 2022
Ifrah Law on NFTs: Blockchain Gaming and Gambling Compliance
By: Jake Gray
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 NFTs in the online gaming space, with a focus on…
Ifrah Law on NFTs: What is an NFT?
February 7, 2022
Ifrah Law on NFTs: What is an NFT?
By: Jake Gray
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 cryptocurrency wallets trading NFTs rose from 545,000 in 2020 to…
Ohio Sports Betting Advertising and Marketing Affiliate Guidance
February 1, 2022
Ohio Sports Betting Advertising and Marketing Affiliate Guidance
By: Sara Dalsheim
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 entire section to “Advertising, Marketing and User Recruitment”. The last…
Maryland Sports Betting Bill Moving Ahead, Includes Preferences for Minority Owned Operators
January 28, 2022
Maryland Sports Betting Bill Moving Ahead, Includes Preferences for Minority Owned Operators
By: Ifrah Law
Sports betting is now legal in Maryland. As part of the 2020 election, Maryland voters approved a Constitutional amendment to allow sports betting. The Maryland legislature is now racing to legalize and regulate sports gambling in the state. On February 2nd, 2021, the Maryland House of Delegates released a sports betting bill that would create a new Sports Wagering Application Commission to evaluate both online…
D.C. Becomes First Place in U.S. to Legalize Online Poker
January 28, 2022
D.C. Becomes First Place in U.S. to Legalize Online Poker
By: Ifrah Law
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 in December 2010 and enacted after passing through Congress unblocked….
