Legal Gambling News, Updates, and Analysis

In a surprise legal move, the Commodity Futures Trading Commission (CFTC) has retracted its August 2022 letter to PredictIt, only to issue a new one. By doing so, it says it has rendered PredictIt’s request for a preliminary injunction moot. Although this likely means that PredictIt can continue operating for now, the CFTC has issued a new […]

It’s starting to look like the political futures market PredictIt may get to continue operating. Oral arguments in the legal battle to save the site took place in the Fifth Circuit on Feb. 8. According to reporting by Courthouse News, two of the three judges appeared inclined to side with PredictIt’s supporters, who are the plaintiffs in the […]

The plaintiffs in the PredictIt case have obtained an injunction to keep the site up and running temporarily. That’s an essential reprieve with the original Feb 15 shutdown deadline now less than three weeks away. On Jan 18, the Fifth Circuit Court of Appeals in New Orleans laid out a timeline for the case. PredictIt, […]

Hope springs eternal for PredictIt, as the Commodities & Futures Trading Commission (CFTC) has failed in its attempt to have the former’s court case thrown out. Those following the PredictIt saga know that as things stand, the site will have to shut down next month. That’s due to the CFTC’s revocation of a no-action letter […]

As the rest of us were enjoying the holidays, the PredictIt case was heating up. The flurry of activity began with a report and recommendation from the US Magistrate Judge who heard the Commodity Futures Trading Commission’s (CFTC) motion to transfer the case from Austin to a federal court in DC. The CFTC is the […]

Now that the midterms are over, major election races have been settled. Many of the Senate races have been settled with the winner priced at 99 cents on PredictIt and the loser at one cent. Analyzing what bettors missed in these races can inform betting strategy for election markets in the 2024 presidential race.  However, […]

BetMGM and Caesars Sportsbook face similar class action suits in federal court in New York, alleging “untruthful and deceptive promises.” The complaints involve promotions by the two online sports betting operators advertising “risk-free” or “free” first bets. Such offers usually require a qualifying deposit and may pay out betting credits rather than cash. Messaging by […]

A Federal judge ruled a lawsuit claiming Wynn Resorts covered up the alleged long-running misconduct of former CEO Steve Wynn can proceed.

A federal court in Northern California has dismissed a class action lawsuit by investors against Skillz, a mobile “skill gaming” company. The plaintiffs had accused the company of violating the Securities Exchange Act by misrepresenting or omitting facts to paint an exaggerated picture of its performance. Chief US District Judge Richard Seeborg ruled that they had failed to plead their […]

On Feb. 23, the US Department of the Interior’s Bureau of Indian Affairs (BIA) rejected the application of Grand River Bands of Ottawa Indians for federal recognition. Michigan tribes operate most retail casinos in the state and hold 12 of its 15 online casino licenses, so it’s a decision with repercussions for gambling in Michigan. The […]

Flutter has agreed to pay a $4 million settlement to the Securities and Exchange Commission (SEC) for alleged due diligence failures relating to PokerStars‘ lobbying efforts in Russia. It’s the second time PokerStars’ gray market history has returned to haunt its new owner, following a much larger settlement with Kentucky in 2021. Flutter’s shares trade on the London Stock Exchange, so it isn’t […]

Professional poker player Doug Polk has taken on a new role as the face of Texans for Texas Hold ’em (TFTH), a lobby group intent on protecting poker rooms in the Lone Star State. The group has come out in support of House Bill 2345. The bill, sponsored by Rep. Ryan Guillen, seeks to legalize […]