Introduction The sports industry is no stranger to legal analysis, particularly in recent years. Professional and amateur sports teams have undergone significant changes that raise complex legal questions involving athlete compensation, league administration, and intellectual property. One of the more complex legal issues, however, lies outside sports organizations themselves, at the intersection of legislation and corporate activity. Sports betting and its many variations

I. Introduction In January 2025, a New York-based derivatives exchange called KalshiEX LLC began listing binary contracts tied to the outcomes of NFL, NBA, NHL, and NCAA games. The contracts worked exactly like sports bets: a user paid a price between one cent and ninety-nine cents for a “yes” or “no” position on whether a team would win, and received a dollar if correct. But Kalshi did not hold a gaming license in any state. It did not operate under any state’s responsible-

1. Introduction The regulation of sports betting and how sports-related prediction markets fit in is important because gambling harms consumers by placing them in a position of a mathematically guaranteed disadvantage. Common law tests for gambling fail to capture gambling’s distinct harmful nature by only considering the relative aspects of skill and chance within an activity, but state gambling statutes in the places where gambling is most prevalent better account for t

Player props are bets that allow you to wager on an athlete’s individual performance. This means that even if your favorite player is on...

In June, the United States Supreme Court declined to hear a challenge to the Seminole Tribe’s agreement granting the exclusive right to...

Sports betting is a completely unprecedented chapter in the legal history of the United States, as there has never been an issue so...

Brad Bohannon, the former University of Alabama baseball coach, violated NCAA wagering and ethical conduct rules when he provided insider...

In 2018, the Supreme Court overturned the Professional and Amateur Sports Protection Act (PASPA), opening the floodgates for legalized...

On May 14th, 2018, the national landscape of sports betting underwent a significant transformation as the Supreme Court struck down the...

On the final day of June, the U.S. Court of Appeals for the D.C. Circuit released its opinion on the future of Florida sports betting....

California holds some of the most popular and successful teams in the United States. Currently, the state houses 15 professional sports...

Everyone, even casual sports fans will have seen the multitude of ads and sponsorships that sportsbooks have found in professional sports...

Since the ruling in Murphy v. NCAA that deemed the Professional and Amateur Sports Protection Act unconstitutional under the...

For anyone who has watched a significant amount of NCAA Men’s Basketball this year, it becomes easy to wonder, at times, how the...