Insights < BACK TO ALL INSIGHTS
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…
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…
NBA Announces Deals to Provide Exclusive League Data to Sports Betting Operators
November 29, 2018
NBA Announces Deals to Provide Exclusive League Data to Sports Betting Operators
By: Ifrah Law
Once adamantly opposed to the idea of legal sports betting, professional sports leagues are now hurrying to play catch-up in order to profit from the burgeoning sports betting market. On Wednesday, the National Basketball Association (“NBA”) issued a release announcing its “first betting data partnerships in the U.S.” with sports data companies Sportradar and Genius Sports to distribute NBA sports betting data to United States…
Ruling in Daniels v. FanDuel Highlights the Value of Sports Data and Contemporary Culture
October 29, 2018
Ruling in Daniels v. FanDuel Highlights the Value of Sports Data and Contemporary Culture
By: Nicole Kardell
More good news for sports betting operators exploring U.S. markets: the Indiana Supreme Court has upheld the “newsworthy value” of sports player stats. The ruling will make it harder for leagues and players to exercise control over (or to extract rents from) the distribution of player data. The case, Daniels v. FanDuel, was brought by several college athletes against DraftKings, Inc. and FanDuel, Inc. Plaintiff…
But today I am still just a Bill
October 22, 2018
But today I am still just a Bill
By: James Trusty
By all accounts, a bill for legalized sports betting in D.C. (“The Sports Wagering Lottery Amendment Act of 2018”) was well-received last week by the City Council, but the byzantine process by which it might become a law leaves plenty of opportunities for mischief. On Wednesday, Councilman Jack Evans introduced legislation with the support of Mayor Bowser and co-sponsorship of five other councilmembers, and with…
