Insights < BACK TO ALL INSIGHTS
Advertising Prediction Markets? The CFTC Just Sent a Clear Message to Affiliates.
FEATURED
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 help solicit customers for these products. The CFTC makes one thing clear: the anti-fraud and anti-manipulation provisions of the Commodity Exchange Act apply to the marketing of event contracts. For affiliates that drive traffic to prediction markets, this guidance is a reminder that compliance is not limited to the operator. Marketing materials matter, and regulators…
CFTC Sends Message to Prediction Markets: You Are Not a Sportsbook
August 11, 2026
CFTC Sends Message to Prediction Markets: You Are Not a Sportsbook
By: John Mikuta
In recent guidance, the Commodity Futures Trading Commission (“CFTC”) has made clear that event contracts offered by regulated prediction-market entities must not be marketed in a format commonly used by casino gambling bookmakers. The CFTC’s Division of Market Oversight and Market Participants Division issued a notice to all CFTC-regulated entities and affiliates regarding their obligations to refrain from engaging in misleading or deceptive practices when…
Nicole Kardell on Keeping iGaming Clients Nimble Amidst Ever-Evolving Privacy Regulations
August 3, 2026
Nicole Kardell on Keeping iGaming Clients Nimble Amidst Ever-Evolving Privacy Regulations
By: Ifrah Law
For iGaming companies, protecting customer privacy is paramount: Nicole Kardell acts as their guardian against federal, state and civil actions that could damage their reputations and profitability. Nicole performs on the leading edge of privacy law, helping to keep Ifrah’s clients in compliance with U.S. and international regulations governing the handling of customers’ confidential information. A certified privacy professional with expertise in European privacy law…
Update on 1/14/19 OLC Wire Act Opinion – All Eyes on New Hampshire
April 9, 2019
Update on 1/14/19 OLC Wire Act Opinion – All Eyes on New Hampshire
By: Jeff Ifrah
(This post was originally published on 1/15/2019 and updated on 4/8/2019) On Jan. 14, 2019, the Department of Justice’s Office of Legal Counsel issued an opinion reversing its 2011 position on the Wire Act and sports betting, contradicting not just itself but decisions by at least two District Courts and dicta by the U.S. Supreme Court by maintaining that the Wire Act prohibits all interstate…
How to Ensure Your Media Affiliate Follows Pennsylvania Gaming Law
March 28, 2019
How to Ensure Your Media Affiliate Follows Pennsylvania Gaming Law
By: Steven Eichorn
As discussed in an earlier blog post, New Jersey’s licensing requirements for affiliate marketers impose significantly different structures depending on the revenue model. If the affiliate marketer only plans to work with casinos in a flat fee model (e.g. CPA or other form of pre-determined compensation), then they must register as a vendor. The vendor registration process is quite straightforward, but it does limit the…
An Epic Fail: Complaint Against Fortnite Creator Based On Facts As Stale As Fruitcake
March 5, 2019
An Epic Fail: Complaint Against Fortnite Creator Based On Facts As Stale As Fruitcake
By: Nicole Kardell
Parents can get angry when their kids spend too much time or money on video games. We get it. But going after a gaming company in retaliation is probably not the best response. And doing so without actually understanding the game can result in, well, a giant waste of time, or, in a recent example, an epic fail. Last week, an angry parent filed a…
NASPL Responds to the DOJ Reversal of Opinion
February 5, 2019
NASPL Responds to the DOJ Reversal of Opinion
By: Ifrah Law
On February 4, 2019, the North American Association of State and Provincial Lotteries (“NASPL”) issued a statement responding to the Department of Justice’s January 14, 2019, opinion regarding the Wire Act of 1961. In its statement, the NASPL hints that the DOJ failed to consider the effects its latest Wire Act opinion would have on state lotteries. The NASPL is a non-profit trade association that…
Lawmakers Pass Online Gambling Bill in Michigan: What this Means for The Great Lakes State
December 21, 2018
Lawmakers Pass Online Gambling Bill in Michigan: What this Means for The Great Lakes State
By: Ifrah Law
The Michigan legislature has passed a trio of bills that would legalize and regulate online gaming. If these bills are signed into law, Michigan’s three commercial casinos and 24 tribal casinos will soon offer players sports betting, online poker, and online casino games. In addition, these bills will pave the way for sports betting in 2019. With this triumvirate in place, Michigan is guaranteed…
