The Commodity Futures Trading Commission (CFTC) issued a new staff advisory on March 12 that aims to add regulatory guardrails around event contract markets—particularly focusing on controversial sports-related event contracts. The advisory letter, CFTC Staff...

Are prediction markets unlicensed sports betting? Massachusetts says they are. In what could have a dramatic impact on the future of prediction markets, the Massachusetts Attorney General sued Kalshi in Suffolk Superior Court on September...

The Commodities Futures Trading Commission (“CFTC”) is putting sports betting markets under the microscope. In just over a month, the agency will host a public roundtable to debate the rise of sports-related event contracts on prediction markets—an emerging trend that...

On Wednesday, the U.S. Supreme Court denied a request to order to stay the implementation of a gaming compact (“Compact”) between the State of Florida and the Seminole Tribe of Florida (“Tribe”). As a result, the...

Three nearly-identical class action lawsuits filed recently in New York and Illinois provide a valuable lesson for companies that offer credit-based promotions or promotions that use the word “free.” The complaints against gambling operators –...

Last week, the US District Court for the District of Rhode Island reaffirmed the First Circuit’s view that the Wire Act “definitively” applies only to sports betting. In other words, non-sports betting gambling, such as...

In a surprisingly result-oriented analysis, the Department of Justice (“DOJ”) has reversed its view on the scope of the Wire Act, declaring that the Wire Act is not limited to sports gambling. The opinion authored...

The Supreme Court has opened the door for the expansion of legal sports gambling, striking down the Professional and Amateur Sports Protection Act (“PASPA”), 28 U.S.C. § 3701, et seq., as unconstitutional. Passed in 1992, PASPA...

The House Energy and Commerce Committee released draft text for the Gaming Accountability and Modernization Enhancement Act (“GAME Act”), which seeks to repeal the Professional and Amateur Sports Protection Act of 1992 (PASPA) and legalize...

The U.S. Court of Appeals for the Third Circuit dealt another blow to New Jersey’s hopes of legalizing sports gambling in its casinos and racetracks. In a 2-1 decision, the Third Circuit sided with the...