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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…
Maryland Legislature Poised to Send Sports Gambling Bill to the Governor
April 13, 2021
Maryland Legislature Poised to Send Sports Gambling Bill to the Governor
By: Ifrah Law
As part of the 2020 election, Maryland voters approved a Constitutional amendment to allow sports betting. In February, I reported on the Maryland legislature’s efforts to pass a new bill to legalize and regulate sports gambling. The state passed another milestone yesterday when the Maryland Senate unanimously approved a new sports wagering bill. The bill is the result of a compromise reached between the House…
In Competing Proposals for New York Mobile Sports Betting, the Winner is Clear
April 2, 2021
In Competing Proposals for New York Mobile Sports Betting, the Winner is Clear
By: Ifrah Law
Today, New Yorkers who want to place a legal mobile sports wager need to drive to neighboring New Jersey or Pennsylvania. Otherwise, unless residents of the Big Apple and the rest of the state want to wager with an illegal offshore operator or local bookmaker, New Yorkers remain out of luck these days. However, the annual state budget negotiations have provided a window of opportunity…
NBA Gets Comfortable With NFTs
March 17, 2021
NBA Gets Comfortable With NFTs
By: Ifrah Law
When people think about LeBron James or Giannis Antetokounmpo, blockchain and digital tokens are probably not the first, tenth, or hundredth thing that comes to mind. But with the rise of NBA Top Shot—a non-fungible token (NFT) that exists on the blockchain, consisting of player video highlights officially licensed from the NBA—that may be changing. What is an NFT? The creator of Top Shot, Dapper…
Corruption of NCAA Sports Will Not Fly Under the Radar
February 28, 2021
Corruption of NCAA Sports Will Not Fly Under the Radar
By: James Trusty
With the increasing popularity of sports betting across the country comes the ever-present concern that big money brings big temptation, and that concern is most acutely fixated on the NCAA sports scene. Gamblers and non-gamblers alike do not want to see their favorite collegiate contests infected with fixed results or point shaving. But in an era where technology is exponentially spreading the availability of sports…
Google Play Gives Online Gaming Another Boost
January 31, 2021
Google Play Gives Online Gaming Another Boost
By: Nicole Kardell
We have seen commercial winners and losers in the COVID era. Online gaming has been a clear winner, with record participation during shelter-in-place times. It just received another boost thanks to a policy change at Google: Google Play recently announced it will allow gambling apps in the Google Play store starting March 1. This is a first for U.S.-based gamers who will now be able to…
