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Horses, Casinos, and Prediction Markets – Old & New in Saratoga Springs
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August 22, 2025
Horses, Casinos, and Prediction Markets – Old & New in Saratoga Springs
By: Michelle Cohen
Last week, I moderated a panel on the sizzling topic of prediction markets at the annual Racing and Gaming Conference at Saratoga. This conference brings together legislators, regulators, and industry professionals from a wide range of organizations in the gaming ecosphere – from horse trainers, to representatives of game suppliers and sports betting companies. It is a conference where the “old” (horse racing) and the “new” (i-Gaming and other online operations such as skill games and sweepstakes) converge. So what’s new in the “traditional” world of horse racing? Panelists shared insights into the challenges faced at our nation’s horse tracks, including staffing the tracks in light of changes in immigration policies. One panel focused on off-track betting as a possible…
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Gambling Industry Takes on Addiction Prevention
July 28, 2025
Gambling Industry Takes on Addiction Prevention
By: Jordan Briggs
Last week, the National Council on Problem Gambling hosted advocates, regulators, counselors, and other industry participants in Columbus, Ohio for the National Conference on Gambling Addiction & Responsible Gambling 2025. With such a broad range of attendees, the conference offered many unique sessions geared towards different industry groups, including wellness sessions and recovery meetings alongside the overviews of ongoing, broad research and the operator-specific talks…
FAIR Treatment of Lost Bets
July 25, 2025
FAIR Treatment of Lost Bets
By: Avner Kronisch
Introduction On July 7, 2025, Representatives Dina Titus (D-NV) and Ro Khanna (D-CA) introduced H.R. 4304, the Fair Accounting for Income Realized from Betting Earnings Taxation Act, commonly known as the FAIR Bet Act.[1] Two days later, Senators Catherine Cortez Masto (D-NV), Jacky Rosen (D-NV), and Ted Cruz (R-TX) introduced the Senate companion bill, S. 2230, titled Facilitating Useful Loss Limitations to Help Our Unique…
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,…
SAFEly symbolic?
October 14, 2024
SAFEly symbolic?
By: Sara Dalsheim
Last month two U.S. lawmakers, Rep. Paul Tonko D-N.Y. and Sen. Richard Blumenthal, D-Conn., introduced the Supporting Affordability and Fairness with Every Bet Act (i.e., the SAFE Bet Act).[1] The Act sought to implement federal minimum standards for all sports betting operators throughout the United States. The lawmakers seemingly put forth the bill because of concerns that citizens are being subject to too many sports…
When Sports Bettors Win, So Does the IRS
October 7, 2024
When Sports Bettors Win, So Does the IRS
By: George Calhoun
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…
