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Legal Fronts In Operating Sports Prediction Markets
The recent boom in prediction markets has threatened to disrupt the multi-billion-dollar sports wagering industry, with prediction market operators claiming the ability to offer their platforms nationwide without the legal obstacles that bog down online gaming and gambling. In March 2025, for example, prediction market operators saw hundreds of millions of dollars in trading volume for sports-related event contracts. State gambling regulators have begun asserting jurisdiction over these platforms, arguing that event contracts are really “pools,” “bets,” or “wagers” on sporting events, all of which require a sports wagering license issued by a state gaming regulator.
At least six states — Illinois, Maryland, Montana, Nevada, New Jersey, and Ohio — have issued cease-and-desist letters directing prediction markets to stop offering their services, and other state regulators are reportedly investigating prediction markets, too.
On its website, prediction market operator KalshiEX defines a “prediction market” as “a trading platform where participants buy and sell contracts based on the projected outcomes of specific events. Participants can wager on diverse topics such as economics, pop culture, politics, technology and even the weather.”
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
The Stranger to the Deed Rule
In 1987, a unanimous Court of Appeals reaffirmed the vitality of the "stranger to the deed" rule, which holds that if a grantor executes a deed to a grantee purporting to create an easement in a third party, the easement is invalid. Daniello v. Wagner, decided by the Second Department on November 29th, makes it clear that not all grantors (or their lawyers) have received the Court of Appeals' message, suggesting that the rule needs re-examination.
Legal Possession: What Does It Mean?
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.