Insights < BACK TO ALL INSIGHTS
Trust the Future You Trade: Lessons About Prediction Market Surveillance from the DACOM Summit
FEATURED
September 23, 2026
Trust the Future You Trade: Lessons About Prediction Market Surveillance from the DACOM Summit
By: John Mikuta
Prediction markets are no longer a niche offering confined to a small corner of the internet. The rapid growth of prediction markets has launched them into the mainstream as a meaningful part of the financial ecosystem. But with that growth comes many of the same market integrity and compliance challenges that more traditional financial markets have long encountered. Prediction markets have faced public scrutiny over high profile insider-trading incidents. Notably, one Polymarket user made over $500,000 by predicting that Iran’s Supreme Leader Ayatollah Ali Khamenei would be out of power shortly before a United States-Israel air strike killed him on February 28, 2026.[1] Separately, Commodity Futures Trading Commission (“CFTC”) recently opened investigations into potential insider trading on Polymarket contracts involving…
High Wire Act
September 22, 2026
High Wire Act
By: James Trusty
The federal statute known as the Wire Act (18 U.S.C. § 1084) has had a tumultuous history. For many years, the DOJ interpreted it to include restrictions on both sporting events and non-sporting contests. That changed dramatically in 2011, when the Office of Legal Counsel (“OLC”), responding to states seeking clarification before establishing state lotteries, published an analysis of the Wire Act. After a thorough…
Robert Ward on Helping iGaming Clients Outmaneuver Lawsuit-Obsessed Adversaries
September 8, 2026
Robert Ward on Helping iGaming Clients Outmaneuver Lawsuit-Obsessed Adversaries
By: Ifrah Law
Today’s iGaming companies face new litigation threats as expansive consumer protection statutes spark lawsuits with sky’s-the-limit aspirations, sometimes backed by private funders. Clients of Ifrah Law have a staunch defender in Robert Ward – an agile litigator and case tactician who responds to the changing state of play with creative legal defenses and efficient case-closing strategies. Robert draws on federal clerkship experience and appellate defense…
Seismic Shift on Lottery Courier Services in Texas
February 25, 2025
Seismic Shift on Lottery Courier Services in Texas
By: Ifrah Law
On Monday, February 24, the Texas Lottery Commission’s Executive Director, Ryan Mindell, announced that the Commission was exercising its discretionary authority under the State Lottery Act to keep the Texas Lottery honest, secure, and fair “by prohibiting lottery ticket courier services,” effective immediately. The Commission plans to give effect to the prohibition through administrative adjudication and notice-and-comment rulemaking. Mindell conveyed the news in a Policy…
The Gambling Industry’s Regulatory Lessons for Cryptocurrency
February 24, 2025
The Gambling Industry’s Regulatory Lessons for Cryptocurrency
By: Sara Dalsheim
While most of American population has mixed feelings on the results of the 2024 election; the cryptocurrency (“crypto”) industry does not. Crypto companies made up one-third of all direct corporate contributions to political action committees, and it resulted in 85% of all winning congressional candidates being supporters of the crypto industry. So, what does the win mean? Likely, a clear regulatory authority and rules over…
Crypto’s Gamble Pays Off: SEC Enforcement Stalls Under Trump Administration
February 21, 2025
Crypto’s Gamble Pays Off: SEC Enforcement Stalls Under Trump Administration
By: Jake Gray
The cryptocurrency industry’s political bet on Trump appears to be paying early dividends in his administration’s first month. The Securities Exchange Commission’s (“SEC”) rapid pivot–reorganizing its enforcement units and pausing major crypto litigation–signals a dramatic shift in the agency’s approach to digital asset regulation. In the past, we have analyzed several enforcement actions by the SEC against cryptocurrency companies that issued their own tokens. Our…
The Election Betting Experiment: Will Congress Rebottle This Genie?
January 8, 2025
The Election Betting Experiment: Will Congress Rebottle This Genie?
By: Jake Gray
Just this fall, Americans in all 50 states were able to put their money where they mouth was on the outcome of the 2024 Presidential Election—what many news outlets call, and even one platform itself has called, election betting. Betting, notably, is not legal in all 50 states. Before the Supreme Court’s ruling, sports betting was largely prohibited nationwide under PASPA, with only Nevada and…
Our Big Three Predictions for the Online Gaming Industry in 2025
January 6, 2025
Our Big Three Predictions for the Online Gaming Industry in 2025
By: Sara Dalsheim
In 2025, we will celebrate the seventh anniversary of the repeal of PASPA and the resulting increase in legalization and popularity of various offerings in the gaming industry – namely sports wagering and online casino gaming. We predict 2025 will bring the following to the industry: (1) further actions from state authorities to fight back against the illegal offshore market; (2) further clarifications from state…
