Legal analysis for operators who can't afford to be wrong.
Dissections of regulatory action, enforcement, game mechanics, and vendor economics across prediction markets, sweepstakes, crypto casinos, esports, and DFS. Independent, cited, and updated as the law changes.
Forty Questions, Fifteen Days: Inside the CFTC's Prediction Market Rulemaking
The Commission opened a rulemaking on March 12. The operators it will most affect have, almost without exception, said nothing on the record.
The Commission Writes a Bill: Ohio Fines Kalshi Five Million While the Circuits Still Argue
A state regulator did not wait for the Sixth Circuit. On April 14, 2026, the Ohio Casino Control Commission posted a $5 million notice of intent against Kalshi, converting a preemption fight into a collection action.
The Federal Strike: CFTC, DOJ, and the Third Circuit Draw the Battle Lines for Sports Event Contracts
The federal government sued three states simultaneously, the Third Circuit issued the first appellate ruling on prediction market preemption, and the Ninth Circuit hears oral arguments tomorrow. The Supreme Court is the only remaining referee.
The Legislature's Checkmate: Maine, Indiana, and the Statutory End of the Dual-Currency Casino
As Maine and Indiana sign sweepstakes casino bans into law and Illinois moves toward criminal reclassification, the legal theory that sustained a multi-billion-dollar industry for a decade is running out of runway.
The Broken Handshake: Kalshi's Montana Complaint and the Fraying Truce Between States and the CFTC
A non-enforcement agreement quietly collapses on April 6, 2026. Six days later Kalshi sues. What Montana's reversal teaches operators, founders, and vendors about the next phase of the prediction-market wars.
Built to Hook: Philadelphia's Microbetting Complaint and the Product-Liability Turn
An 81-page complaint, a Los Angeles verdict, and a New Jersey bill advance the argument that a licensed wagering product can still be a defective one.
Twitch and the Invisible Sportsbook: Esports Betting's Unregulated Adolescence
A generation of bettors came of age wagering on Counter-Strike matches through offshore books, skin-gambling sites, and prediction markets regulators never caught up with.
Building a Compliant Gaming Startup in 2026: A Legal Roadmap for the Bold
You want to launch a gaming product. The regulatory landscape is treacherous. Here's the exact roadmap: business model selection, jurisdiction choice, licensing strategy, corporate structure, and ongoing compliance.
California Sweeps the Leg: AB 831 and the Expanding Radius of Liability
California's AB 831 not only banned sweepstakes casinos—it made anyone who helps them operate liable too. Payment processors, tech vendors, media affiliates. The precedent is spreading.
Michigan's Dragnet: What 45 Cease-and-Desist Orders Tell Us About the Future of Enforcement
Michigan Gaming Control Board issued 45 C&Ds to offshore operators in April 2026. It was just the beginning. States are moving from passive regulation to active enforcement.
Empire Without Rules: Inside the Offshore Crypto Casino Machine
Roobet, Stake, Shuffle: These platforms operate in crypto, avoid traditional payment rails, and serve Americans from Curaçao and Cyprus. How do they stay in business? And for how much longer?
The End of Category Lines: When DFS, Sports Betting, and Prediction Markets Collide
The regulatory distinction between daily fantasy, sports betting, and prediction markets is collapsing. Arizona revoked a license. Courts said it can't. The industry is scrambling to understand what its own products are.
The Algorithm Knows Your Bet: AI's Conquest of Sports Wagering
Algorithmic trading now accounts for 48% of sports betting activity. Operators have deployed 1,000+ live betting options per game. Is this innovation or a silent arms race that harms consumers?
Who this is for
Founders, general counsels, compliance leads, investors, and regulators working on or around gaming and prediction markets. Every piece includes the cases, the rulemakings, and the operator-specific read-throughs. If a rule changes, we update the piece and log the revision publicly.