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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…
Sorry, NY Fantasy Sports Fans. No Play for You!
November 16, 2015
Sorry, NY Fantasy Sports Fans. No Play for You!
By: Jeff Ifrah
Daily Fantasy Sports (or DFS) offers daily excitement to millions of US sports fans, and it enjoys tremendous support from its fan base. That support was on display today in NYC, as more than 250 upset fans rallied in front of the Attorney General’s office. The rally in support of DFS was in response to last week’s controversial announcement by New York Attorney General Eric…
Why Virtual Gold Can’t Buy Plaintiffs Happiness
November 10, 2015
Why Virtual Gold Can’t Buy Plaintiffs Happiness
By: Ifrah Law
A federal court has soundly rejected a plaintiff’s contention that she suffered any real-world harm based on in-game losses of virtual currency. In Mason v. Machine Zone, Inc., plaintiff Mia Mason alleged that she was a regular player of a free-to-play mobile game called Game of War (GoW): Fire Age. GoW is a multiplayer online strategy game in which players construct a simulated empire and…
The Return of The King
October 1, 2015
The Return of The King
By: Ifrah Law
PokerStars, the innovative online poker industry leader with a deeply loyal U.S. fan base, is making its highly anticipated return to the United States online gaming market. New Jersey regulators have approved PokerStars’ parent company, Amaya, to partner with Resorts Atlantic City to offer online gaming platforms in the state through the PokerStars and Full Tilt brands. As the world’s largest and most popular online…
Five Legal Issues Your eSports Company Needs to Know About Operating in the U.S.
September 14, 2015
Five Legal Issues Your eSports Company Needs to Know About Operating in the U.S.
By: Michelle Cohen
Photo courtesy https://outplayed.fr/ With a $143 million market in North America, eSports is big business in the U.S. And given its swift rise in popularity – 205 million people worldwide watched or played eSports in 2014, it will only become bigger. At last week’s eSports Conference, held in San Francisco September 9-10, industry leaders met and mingled while discussing market trends, best practices and the…
Wanted: A Quarterback for Legalization Of U.S. Sports Betting
August 12, 2015
Wanted: A Quarterback for Legalization Of U.S. Sports Betting
By: Jeff Ifrah
*This piece first appeared on the site LegalSportsReport.com on August 11, 2015 Welcome to one of the biggest business opportunities on Planet Earth: legalized sports betting in the United States, the land of the free and the home of 200 million sports fans. It hasn’t happened yet, but odds are, it will. And when it does, the overwhelming spoils will go to licensed and law abiding actors…
