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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.”
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.
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.
Warehouse Liability: Know Before You Stow!
As consumers continue to shift purchasing and consumption habits in the aftermath of the pandemic, manufacturers are increasingly reliant on third-party logistics and warehousing to ensure their products timely reach the market.
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.
Removing Restrictive Covenants In New York
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?