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CFTC Withdraws Specialized Guidance On Cryptocurrency Derivatives
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March 31, 2025
CFTC Withdraws Specialized Guidance On Cryptocurrency Derivatives
By: Jake Gray
In step with the Securities and Exchange Commission’s (“SEC”) transformation from cryptocurrency adversary to ally, the Commodity Futures Trading Commission (“CFTC”) is now following its sister agency’s lead. By withdrawing its specialized guidance on digital currency derivatives, the CFTC signals a more accommodating regulatory approach that recognizes the growing maturity and mainstream acceptance of digital asset markets. As of March 28, 2025, both CFTC Staff Advisory No. 18-14 and the subsequent 2023 guidance, CFTC Staff Advisory No. 23-07 have been officially withdrawn, marking a clear departure from the agency’s previous cautionary stance.[1][2] What’s In the Advisories The CFTC’s first digital asset advisory, Letter No. 18-14, came in 2018 when digital asset derivatives products and their underlying spot markets were new,…
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Sweepstakes Issues Draw Focus at Next.io Summit
March 27, 2025
Sweepstakes Issues Draw Focus at Next.io Summit
By: Jordan Briggs
Social casinos were one of the many hot topics at the Next.io summit in New York March 12-13, so much so that they got their own well-attended summit on March 11. Generally, there are three types of online social casinos: social casinos with no option to purchase any plays; social casinos with the option to purchase plays and the only thing a user can win…
YouTube Fills Federal Policing Void on Gambling
March 17, 2025
YouTube Fills Federal Policing Void on Gambling
By: Sara Dalsheim
The ultimate inhibitor of the regulated gambling industry is the illegal ever-present offshore market. The regulated industry has been consistently asking for assistance from law enforcement to assist them in stamping out the illegal market – that, unlike the regulated industry, is not required to abide by any of the mechanisms that protect consumers. The federal government has failed to answer the call, so the…
Lesniak’s Bill is New Jersey’s Latest Play to Bring Sports Betting to the State
July 15, 2014
Lesniak’s Bill is New Jersey’s Latest Play to Bring Sports Betting to the State
By: Ifrah Law
Sometimes you should be careful what you ask for. And sometimes even when you get what you ask for, it turns out not to be what you wanted. The U.S. Supreme Court recently denied a petition for certiorari by the State of New Jersey in the case challenging its sports wagering law as a violation of the Professional and Amateur Sports Protection Act of 1992 (“PASPA”), the federal law that prohibits state-sponsored sports…
Florida’s Sweepstakes Law Takes Aim at Dubious Sweepstakes Run by Non-Profits – Legislative Fix Has Broad, Unintended Consequences
July 1, 2014
Florida’s Sweepstakes Law Takes Aim at Dubious Sweepstakes Run by Non-Profits – Legislative Fix Has Broad, Unintended Consequences
By: Michelle Cohen
Florida continues to lead the fight against illegal gambling in Internet cafes. In 2013, state and federal agents arrested dozens of individuals associated with Internet sweepstakes cafes operated by the “Allied Veterans of the World & Affiliates,” a purported charitable group. These Internet cafes operated under a potential legal loophole. Patrons were supposedly buying Internet time during which, proponents claimed, they were also playing…
Supreme Court Denies Cert. in New Jersey Sports Betting Case
July 1, 2014
Supreme Court Denies Cert. in New Jersey Sports Betting Case
By: Ifrah Law
On June 23, the United States Supreme Court denied New Jersey’s petition for a writ of certiorari to hear an appeal from lower court decisions that invalidated its sports wagering law. This ends a three year fight to bring sports betting to New Jersey’s casinos and racetracks, but NJ State Senator Raymond Lesniak, who has spearheaded efforts to bring sports betting to the state has vowed…
Why Is Casino Gaming Excluded from Online Gaming Proposals?
June 30, 2014
Why Is Casino Gaming Excluded from Online Gaming Proposals?
By: Ifrah Law
Now that three states—Delaware, Nevada, and New Jersey—have successfully launched online gaming, there is a flurry of proposed legislation as other U.S. jurisdictions seek to get in on the action. A surprising number of the proposals seek to limit gaming to poker alone, forbidding real-money online casino games such as slots and blackjack. Such proposals have been floated in California, Pennsylvania, and even by the…
Court Decision Good for Poker, Bad for Bottom Feeding Plaintiffs
June 30, 2014
Court Decision Good for Poker, Bad for Bottom Feeding Plaintiffs
By: Ifrah Law
On Friday, a New Jersey state court judge threw out a lawsuit brought against the Borgata Hotel Casino & Spa in Atlantic City by six men who alleged that the Borgata was negligent in running a tournament in the 2014 Borgata Winter Poker Open which was cancelled after counterfeit poker chips were discovered in circulation. After the Big Stack, No Limit Hold ‘Em tournament…
