Florida lawsuits target Stake and VGW as sweepstakes pressure grows Suswati Basu Florida has become the latest state to take legal action at sweepstakes-style gaming, with Attorney General James Uthmeier suing the businesses behind Stake US and Virtual Gaming Worlds’ (VGW) Chumba Casino, LuckyLand and Global Poker. The two complaints, filed Wednesday (August … Continue reading Florida lawsuits target Stake and VGW as sweepstakes pressure grows
Prosecutors urge judge to keep US soldier Polymarket insider case alive Suswati Basu Federal prosecutors want a Manhattan judge to keep the criminal case against Army master sergeant Gannon Ken Van Dyke on track for trial, rejecting his bid to throw out charges over Polymarket trades that allegedly earned him more than $ … Continue reading Prosecutors urge judge to keep US soldier Polymarket insider case alive
Connecticut judge rejects Kalshi injunction against state sports betting enforcement challenge Suswati Basu A federal judge has handed Connecticut regulators an early victory in their fight with prediction market operator Kalshi, refusing to stop the state from enforcing its gambling laws while the lawsuit moves forward. Kalshi has appealed the Connecticut federal district … Continue reading Connecticut judge rejects Kalshi injunction against state sports betting enforcement challenge
CFTC steps in to shield Kalshi from New York shutdown attempt Suswati Basu Kalshi can keep operating for now after the Commodity Futures Trading Commission (CFTC) invoked its emergency powers, warning that an effort by New York to restrict the prediction-market exchange could disrupt derivatives markets in the United States and internationally if … Continue reading CFTC steps in to shield Kalshi from New York shutdown attempt
Novig sues New York claiming federal law shields sports prediction markets Suswati Basu A federally regulated prediction market operator is asking a federal judge to block New York from enforcing state gambling laws against its sports event contracts, arguing that Congress placed those markets under the exclusive authority of the Commodity Futures Trading … Continue reading Novig sues New York claiming federal law shields sports prediction markets
DraftKings faces second class action over Predictions sports event contracts platform claims Suswati Basu DraftKings is being sued in a second proposed class action that claims its Predictions platform operates as an unlicensed sportsbook, with sports bets packaged for customers as financial-style “event contracts.” The case was filed Monday (August 3) in Massachusetts … Continue reading DraftKings faces second class action over Predictions sports event contracts platform claims
New York sues Kalshi alleging illegal prediction markets defying state gambling laws Suswati Basu New York is taking its fight against prediction markets to court, with Gov. Kathy Hochul and Attorney General Letitia James announcing Friday (July 31) that the state has sued Kalshi, alleging the federally regulated prediction market operator is running … Continue reading New York sues Kalshi alleging illegal prediction markets defying state gambling laws
Federal judge lets Wisconsin continue sports prediction market enforcement fight forward Suswati Basu News Editor A federal judge has refused to block Wisconsin from enforcing its gambling laws against companies offering sports-related event contracts, handing the state an early victory against the US Commodity Futures Trading Commission (CFTC) in a closely watched legal battle … Continue reading Federal judge lets Wisconsin continue sports prediction market enforcement fight forward
DraftKings faces nationwide class action over Predictions platform legality dispute intensifies Suswati Basu DraftKings is facing a proposed nationwide class action accusing the company of running an illegal online sports betting business through its DraftKings Predictions platform in states where traditional online sportsbooks are still prohibited. The complaint, filed July 28 in the … Continue reading DraftKings faces nationwide class action over Predictions platform legality dispute intensifies
Nevada Kalshi suspend contempt hearing while geofencing rollout moves ahead Suswati Basu Nevada and Kalshi have agreed to put an escalating contempt fight on hold after jointly asking the court to cancel a scheduled hearing and instead oversee the rollout of stronger geofencing technology. The agreement shifts the immediate focus from sanctions to … Continue reading Nevada Kalshi suspend contempt hearing while geofencing rollout moves ahead
