Daily Compliance News: August 11, 2025, The Boss Doesn’t Work Edition
TortsCenter Podcast | Episode 8 | Gambling and Harassment: Wyoming’s Game-Changing Ban
TortsCenter Podcast | Episode 5 | Higher Standards or Higher Stakes
Game On: Navigating the Legal Landscape of Sports Wagering — Regulatory Oversight Podcast
A New Solution for Online Gambling Companies with Eric Frank, CEO, Odds On Compliance
Peer-To-Peer Sports Betting Exchanges With Joe Caputi, Director of Compliance, Prophet Exchange
Orrick Public Policy Podcast #26 – A Conversation with the Minnesota State Senate Majority Leader Jeremy Miller
WorldSmart: The Legal & Business Side of Football ("Soccer")
Wanna Bet? Gambling in Esports
5 Key Takeaways | The Maze of Laws, Rules, and Regulations at the Intersection of Gambling, Gaming, Sports Betting, and Fantasy Sports
Kalshi, a federally regulated event contract exchange, is challenging state gaming regulators in multiple courts to determine whether it should be governed solely by federal law or also by individual state gambling laws....more
In the midst of its ongoing litigation with three leading prediction market companies, also known as “designated contract markets” or[JS1] “DCMs,” the Nevada Gaming Control Board (“NGCB” or “Board”) recently issued guidance...more
Our Investment Funds Team outlines key takeaways from Commodity Futures Trading Commission’s (CFTC) Staff Advisory 25-36 that offers guidance to trading platforms and investment managers involved in sports-related event...more
On September 30, 2025, the Commodity Futures Trading Commission (“CFTC”) staff issued an advisory (the “Advisory”) in anticipation of the impending government shutdown. However, in essence, the Advisory has very little to do...more
Massachusetts Attorney General (AG) Andrea Joy Campbell recently filed a lawsuit in Suffolk Superior Court against KalshiEX LLC (Kalshi), an online prediction market platform, alleging that the platform runs an illegal sports...more
Across U.S. sports betting markets, Kalshi remains a topic of debate. The core question: does Kalshi legally offer sports event contracts within federally regulated financial prediction markets, or does Kalshi operate illegal...more
CFTC and SEC Look to Converge on Prediction Markets - Prediction market platforms, which offer futures contracts on sports and events, may soon face oversight from both the Commodity Futures Trading Commission (“CFTC”) and...more
In addition to receiving cease-and-desist orders from several states (Arizona, Illinois, Montana, and Ohio), and ongoing litigation against New Jersey state gaming regulators in the U.S. Court of Appeals for the Third...more
Kalshi’s two-win streak ended with a preliminary loss in its lawsuit against Maryland gaming regulators—a shift from prior federal district court rulings and a win for states on the federal preemption issue at the center of...more
We have seen dramatic evolution across the gaming industry throughout 2025. There have been noteworthy legal and regulatory developments for lottery couriers, prediction markets, sweepstakes casinos, and sports betting...more
A lawsuit between KalshiEx LLC (Kalshi) and New Jersey state gaming regulators in the Third Circuit is testing the balance between federal commodities regulation and state authority regarding sports betting. Kalshi operates...more
Peer‑to‑peer sports event contracts have surged in popularity. Kalshi, a U.S.-based prediction market, reported that its sports event contracts yielded $249 million through the first two rounds of the NCAA Basketball...more
Kalshi's sports betting prediction market, in partnership with Robinhood, has seen significant success, reporting $249 million in contracts during the first two rounds of the NCAA College Basketball Tournament. Kalshi's...more
As some companies in the so-called “predictions market” have begun to offer event futures contracts on sporting events, including the most recent Super Bowl, many observers are questioning whether these offerings are really...more
The Missouri Gaming Commission's plan to implement emergency rules for sports wagering has been delayed due to a dispute with the Missouri Secretary of State, Denny Hoskins. Hoskins rejected the emergency rules, stating there...more
The emergence of event-based trading platforms such as KalshiEX LLC and Crypto.com/Nadex has sparked a heated regulatory and policy debate over the boundaries of financial derivatives, speculation and gambling. Both platforms...more
Acting Chair Named for CFTC Opens Door to Event Contracts While Departing Chair Cautions Against Expansion Commissioner Caroline D. Pham has been named as Acting Chair of The Commodity Futures Trading Commission, effective...more
On Jan. 17, 2025, the United States Court of Appeals for the District of Columbia (D.C. Circuit) heard oral argument in KalshiEx v. CFTC. At issue is KalshiEx LLC’s (Kalshi) ability to list political event contracts for...more
Recent Developments CFTC Steps Up its Watch on Election Betting MA Online Lottery Implementation Delayed Tennessee Issues Fine, C&D to Bovada Judge Rejects Attempt to classify Musk $1 million giveaway as an Illegal Lottery...more
The Commodity Futures Trading Commission (CFTC) recently voted to issue a new rule proposal which would serve to ban event contracts on political elections, as well as sporting events, awards, and more. The CFTC has...more