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Prediction Markets Raising Predictable Questions of Regulation, Public Policy
FEATURED
January 27, 2026
Prediction Markets Raising Predictable Questions of Regulation, Public Policy
By: John Mikuta
On January 3, 2026, the United States carried out a shocking military strike against Venezuela, resulting in the capture of Venezuelan President Nicolas Maduro.[i] Maduro was taken from his home in Caracas and flown to New York, where he faces narco-terrorism conspiracy, cocaine importation conspiracy, and weapons possession conspiracy charges.[ii] While the strike surprised most of the world, a few traders on Polymarket seemingly anticipated that it would occur. Polymarket, the “world’s largest prediction market,”[iii] is a platform where “people can bet on the outcome of future events” by buying and selling shares in the outcomes.[iv] Polymarket allows users to trade on sports outcomes, economic data, business actions, pop culture, and—as relevant here—political events such as election outcomes and international…
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Virginia Poised to Legalize iGaming
January 14, 2026
Virginia Poised to Legalize iGaming
By: Sara Dalsheim
There has been chatter for some time that Virginia will soon become the next state to join in on the fun of legalized iGaming. Today, House Bill 161 and Senate Bill 118 will be officially offered as proposed legislation (the bills were pre-filed on January 6, 2026). House Bill 161 will officially be introduced by Delegate (“Del.”) Marcus Simon proposing to amend and reenact the…
The United Kingdom Institutes a Voluntary Code of Good Practice for Operators of Prize Draws
November 26, 2025
The United Kingdom Institutes a Voluntary Code of Good Practice for Operators of Prize Draws
By: John Mikuta
The United Kingdom has published a Voluntary Code of Good Practice for operators of prize draws and competitions (“PDCs”).[1] The Code contains a wide range of key measures that operators are expected to implement to improve player safety and transparency. Because the Code is voluntary, operators are not legally bound to abide by it. However, dozens of operators and other relevant entities in the United…
Will Legalized Sports Betting Save NFL Television?
September 27, 2019
Will Legalized Sports Betting Save NFL Television?
By: Jeffrey Hamlin
The growth of proposition and in-play sports betting may be just what the NFL needs to sustain a revived interest in televised games. From 2016 to 2018, the NFL experienced a two-year ratings slump when viewership decreased by 17%. Theories abound as to why ratings fell. Some point out that traditional television viewership was (and is) down generally due to younger viewers who are ditching…
What About Gaming? The House Passes the SAFE Banking Act, Putting Cannabis Ahead of Regulated Gambling
September 26, 2019
What About Gaming? The House Passes the SAFE Banking Act, Putting Cannabis Ahead of Regulated Gambling
By: George Calhoun
The inability to secure banking services has created enormous difficulties for state level, legal cannabis industries. Eleven states and the District of Columbia have legalized the recreational use of marijuana, and a majority of states also have legal medical marijuana programs. Nonetheless, “marihuana” remains a Schedule I controlled substance under the Controlled Substances Act and its sale or possession can be a federal crime. As a…
A Comeback Victory: Appeals Court Says Monmouth Park Owner is Entitled to Recover Damages from NCAA and Sports Leagues
September 24, 2019
A Comeback Victory: Appeals Court Says Monmouth Park Owner is Entitled to Recover Damages from NCAA and Sports Leagues
By: Ifrah Law
It has been over a year since the Supreme Court found that the Professional and Amateur Sports Protection Act (PASPA) was unconstitutional in Murphy v. NCAA, and countless states have legalized sports gambling in the time since, but the legal fallout from the Murphy case is still weaving its way from the courts. Early in the Murphy case, when the sports leagues and NCAA requested…
North Carolina on the Verge of Legal Sports Betting
July 29, 2019
North Carolina on the Verge of Legal Sports Betting
By: George Calhoun
In April, I spoke to the North Carolina Bar Association concerning the future of sports betting in the state. At the time, a bill to legalize sports betting was making its way through the legislative process. Last week, the North Carolina legislature finally passed a bill authorizing sports wagering at the state’s two Eastern Band of Cherokee Indian casinos. The bill explicitly adds sports betting…
New Hampshire Federal Court Finds Wire Act Is Limited to Gambling on Sporting Events
June 4, 2019
New Hampshire Federal Court Finds Wire Act Is Limited to Gambling on Sporting Events
By: Ifrah Law
On June 3, 2019, Judge Paul Barbadoro of the United States District Court for the District of New Hampshire issued a 60-page opinion holding that the Wire Act is limited to sports gambling. Judge Barbadoro’s opinion resolved litigation between the New Hampshire Lottery Commission, its service provider (NeoPollard), and the Department of Justice (DOJ), over a 2018 opinion by the DOJ’s Office of Legal Counsel…
