Insights < BACK TO ALL INSIGHTS
Finance Posts
When Sports Bettors Win, So Does the IRS
Oct 7, 2024
When Sports Bettors Win, So Does the IRS
Sports betting and adjacent industries have exploded in the United States. One area that continues to cause confusion is the taxation of these businesses – both for the companies and the individual players. For individual bettors, the IRS has clear rules on gambling income that predate the recent explosion of the sports betting industry. In…
Are Lottery Courier Services the Next Big Thing?
Mar 19, 2024
Are Lottery Courier Services the Next Big Thing?
On February 15, 2024, DraftKings announced that it would acquire lottery app Jackpocket (which is a lottery courier services provider- i.e. it enables customers to obtain lottery tickets such as PowerBall and MegaMillions directly from their mobile app) for about $750 million in cash and stock. The company said it would pay about 55% of…
Investment Giant Clears State Regs, Gains Major iGaming Equity Stake
Mar 4, 2024
Investment Giant Clears State Regs, Gains Major iGaming Equity Stake
The world’s largest alternative asset manager was poised to make a major move in the iGaming space by investing in a leading geolocation company. The financial pathway for the envisioned investment was clear, but a transaction would require multiple state-level approvals. Ifrah Law drew on its deep experience in gaming law and working with regulators…
Cross-Border Acquisition Helps Canadian Firm Gain Traction in U.S. iGaming Markets
Jan 10, 2024
Cross-Border Acquisition Helps Canadian Firm Gain Traction in U.S. iGaming Markets
A Canada-based payment technology company successfully expanded into the lucrative, and highly regulated, U.S. iGaming market by working with Ifrah Law to plan and execute the $370 million acquisition of a U.S.-based iGaming payments-processing expert. Since its founding 2003, Canadian fintech company Nuvei Technologies has grown into a potent business accelerator for clients around the…
DraftKings Should Prevail in NFT-Securities Litigation
Oct 13, 2023
DraftKings Should Prevail in NFT-Securities Litigation
In February 2022, we wrote about the extent to which NFTs could raise novel securities laws questions, invoking the case of Friel v. Dapper Labs and utility-based NFT offerings conjoined to ownership-based privileges associated with securities. A year later, in February 2023, a judge from the U.S. District Court for the Southern District of New…
Ifrah Law on Web3: Web3 Gaming
Jun 29, 2023
Ifrah Law on Web3: Web3 Gaming
What We’ve Covered In the initial two blog posts of this series, we explored the fundamentals of the World Wide Web, focusing on its iterative issues and solutions as the technology evolved. We charted the history of the Web briefly, from its early stages of relatively isolated, static, and read-based websites to today’s rather centralized,…
Ifrah Law at NFT.NYC: Web3 Gaming’s Growing Pains and Maturity
Apr 26, 2023
Ifrah Law at NFT.NYC: Web3 Gaming’s Growing Pains and Maturity
From April 12th to April 14th, NFT.NYC held its fourth inaugural event since its launch in 2019, boasting more than 1,500 speakers across seven different categories and a featured section. Moving from an array of venues spread throughout Times Square to a centralized location North Javits, Hudson Yards, the event was significantly less well attended…
Ifrah Law on Web3: Web3.0’s Solutions
Apr 19, 2023
Ifrah Law on Web3: Web3.0’s Solutions
At issue in Web2.0 was the centralization of web platforms and protocols under a user-independent authority, and therefore users’ inability to meaningfully exert control over their web experience, interactions, and data. While such a dynamic provided significant benefits in making the web accessible to a much wider population by lowering the technical barrier to entry,…
Ifrah Law on Web3: Origins of the Web
Apr 17, 2023
Ifrah Law on Web3: Origins of the Web
In parts (1) and (2) of this series, we’ll cover the basics of the Web and aspects of its technical history up to the present, and then discuss how Web3 technologists are trying to revolutionize the Web in its current iteration by solving its characteristic problems, respectively. In the following parts, (3) and (4), we’ll…
European Union Agrees On Cryptocurrency Regulation, Excludes NFTs (For Now)
Jul 28, 2022
European Union Agrees On Cryptocurrency Regulation, Excludes NFTs (For Now)
European Union policymakers have taken the next step toward enacting a scheme for regulating cryptocurrency and other blockchain-based assets, as the Council of the European Union and the European Parliament provisionally agreed to approve new rules governing Markets in Crypto-Assets (“MiCA”). The new rules would address a range of risks related to cryptocurrencies and related…
