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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…
Is it a Lottery or is it Gambling? UK Regulator Slaps Lottoland for Misleading Radio Ad
February 8, 2017
Is it a Lottery or is it Gambling? UK Regulator Slaps Lottoland for Misleading Radio Ad
By: Michelle Cohen
Gambling, including online gaming, lotteries, and land-based gaming, has tremendous participation in the United Kingdom. One study concluded that 75% of the UK’s adult population gambled in some manner. UK regulators take an aggressive approach to licensing, supervision, and enforcement of gambling laws and regulations, including gaming-related advertising. As more U.S. states permit online gaming, UK regulators’ decisions about promotions will be instructive to state…
Skin Gambling Plaintiffs Find Themselves Back Where They Started
January 10, 2017
Skin Gambling Plaintiffs Find Themselves Back Where They Started
By: Ifrah Law
The lawsuits against Valve Corporation are continuing their tortured procedural paths from various federal courts to state court and back again. After filing a complaint against Valve and several co-defendants in federal court, the case was ultimately dismissed. Not dissuaded, the plaintiffs refiled against Valve in state court, in King County, Washington. Yet, as of December 2016, the case is back in federal court. After…
Coalition Building to Combat Unlicensed Internet Gaming Sites
November 14, 2016
Coalition Building to Combat Unlicensed Internet Gaming Sites
By: Steven Eichorn
The NJ Division of Gaming Enforcement (DGE) regulates various licensees that provide services to the online gaming industry within the state. The agency recently demonstrated its power of regulatory enforcement over the online gaming industry and its unique ability to protect consumers with its recent discovery that a licensee may have provided US residents with access to unlicensed offshore sports wagering sites via an out-of-country server…
Shutting the Valve on Skin Betting
October 26, 2016
Shutting the Valve on Skin Betting
By: Nicole Kardell
A tried and true military strategy is to cut off your enemy’s supply lines: blow up a bridge and force a retreat. The tactic works in other situations too. It is regularly used by legislators and government agencies to address what they view as problem behavior from a particular industry. Instead of targeting the industry, they go after a major supplier, stakeholder, or intermediary. Want…
An Esports Slam Dunk: What the NBA’s Investment in Esports Means
October 20, 2016
An Esports Slam Dunk: What the NBA’s Investment in Esports Means
By: Ifrah Law
On September 26, 2016, the Philadelphia 76ers announced that they had acquired two leading eSports teams, Team Dignitas and Team Apex. Not to be outdone, the next day Team Liquid announced they had sold a controlling share to Golden State Warriors co-owner Peter Guber and entrepreneur Ted Leonsis, who is the majority owner of the private company that owns the Washington Wizards. The Sixers, Guber,…
