Akin Attorneys Co-Author Article for Law360 on the Complexities Surrounding the Legality of Prediction Markets

Law360 has published an article, “Contradictory Rulings Show Complexity Of Swaps Regulation” co-authored by white collar defense & government investigations senior counsel Jack Murphy and partners Peter Altman and James Benjamin. The article examines the complexities surrounding the legality of prediction markets and the implications of KalshiEX LLC v. Hendrick and North American Derivatives Exchange Inc. v. Nevada among other cases. 

The article concludes that these court rulings, “illustrate the complexities of adapting the existing CEA framework to the regulation of nationwide prediction markets” and  “conferring exclusive jurisdiction on the CFTC to regulate sports betting, along with a limitless number of other possible events, while divesting state regulators of their traditional authority to regulate gambling, would have far-reaching consequences.”  

To read the full piece, please click here.