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Cold Water on Insider Trading Fears: Prediction Markets Miss the 2026 NFL Draft
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April 29, 2026
Cold Water on Insider Trading Fears: Prediction Markets Miss the 2026 NFL Draft
By: John Mikuta
From April 23 to April 25, the National Football League (“NFL”) held its annual player selection draft. Over 800,000 fans gathered in Pittsburgh, Pennsylvania to watch Commissioner Roger Goodell announce the picks live, with millions more watching on TV and other digital platforms.[1] But the NFL Draft is not just a spectator event—both traditional sportsbooks and prediction-market platforms allowed customers to risk money predicting which player would be selected first, how many quarterbacks would be chosen, and when particular players would come off the board.[2] NFL Draft betting took off in 2020, when COVID-19-related shutdowns brought most sports to a grinding halt. Until then, a typical draft garnered only about $1 million in wagers. The 2020 NFL Draft, however, saw…
After Ciminelli: Are the Feds Betting Too Big on Wire Fraud?
April 23, 2026
After Ciminelli: Are the Feds Betting Too Big on Wire Fraud?
By: Abbey Block
Can a technical violation of a website’s terms and conditions constitute a violation of the federal wire fraud statute? A federal court will soon decide just how broadly the statute may sweep, and whether all such forms of potentially dishonest conduct are subject to such stringent criminalization. On Monday, all eyes will be on the District Court for the Eastern District of New York when…
The Cost of Moving Too Fast: Is Your Company Really Ready to Apply for a US Gaming License?
April 21, 2026
The Cost of Moving Too Fast: Is Your Company Really Ready to Apply for a US Gaming License?
By: Amanda Holi
The allure of the US gaming and gambling market is undeniable. As more states legalize sports betting and online gaming, it seems full of possibilities. But as someone who navigates these regulatory waters daily, I often have to ask new clients a tough question: Is your company actually prepared to apply for a US gaming license? Entering the US isn’t just about having a great…
“The Devil Made Me Bet It” – the Third Circuit Considers Arguments in Bettor’s Case Against Casino
December 16, 2024
“The Devil Made Me Bet It” – the Third Circuit Considers Arguments in Bettor’s Case Against Casino
By: Abbey Block
Can a casino be held liable for encouraging its patrons to gamble, particularly when those patrons exhibit signs of problem gambling? That is the question the Third Circuit Court of Appeals was left to contemplate following oral arguments in the case of Antar v. The Borgata Hotel Casino and Spa, LLC et al., which took place last week.[1] The plaintiff in the case, Sam Antar,…
Missouri Votes for Legalized Online and Retail Sports Betting
November 6, 2024
Missouri Votes for Legalized Online and Retail Sports Betting
By: Sara Dalsheim
Yesterday, the citizens of Missouri voted in favor of Amendment 2 to legalize online and retail sports betting by a small margin of under 7,500 votes. Missouri is now set to be the 39th state to legalize sports betting. Under the amendment, the retail and online sports wagering rights were granted to Missouri casinos and professional sports teams, each with the right to have one…
A Modest Proposal to Reduce AI Liability: Add Warnings
November 4, 2024
A Modest Proposal to Reduce AI Liability: Add Warnings
By: Abbey Block
CONTENT WARNING: This blog includes discussion of suicide.[1] Imaginary friends are a common staple of childhood. Indeed, many children invoke the companionship of imaginary friends – relying on their creativity and imagination for entertainment and friendship. However, nowadays, young people no longer need to rely solely on their own creativity to conjure up a fictional companion. Rather, generative artificial intelligence (“AI”) programs such as Character.AI…
CFTC “Special Rule” Interpretation Led to an October Surprise
October 23, 2024
CFTC “Special Rule” Interpretation Led to an October Surprise
By: Robert Ward
On October 2, 2024, the Court of Appeals for the District of Columbia Circuit issued a decision that permitted KalshiEx LLC (“Kalshi”) to legally offer election contracts, which allow buyers to put down money based on their predictions as to party control of Congress and presidential election results.[1] This decision, and the district court decision that the Commodity Futures Trading Commission (“CFTC”) sought to stay,…
SAFEly symbolic?
October 14, 2024
SAFEly symbolic?
By: Sara Dalsheim
Last month two U.S. lawmakers, Rep. Paul Tonko D-N.Y. and Sen. Richard Blumenthal, D-Conn., introduced the Supporting Affordability and Fairness with Every Bet Act (i.e., the SAFE Bet Act).[1] The Act sought to implement federal minimum standards for all sports betting operators throughout the United States. The lawmakers seemingly put forth the bill because of concerns that citizens are being subject to too many sports…
