The High-Stakes Future of Prediction Markets: Regulation, Risk and Opportunity
Gaming and Interactive Media
Event summary
Join Cooley for a virtual series exploring some of the most pressing legal topics in the gaming industry today. Our speakers will provide valuable insights and practical advice across topics like in-game virtual assets, privacy, copyright issues and more.
Gaming and Interactive Media, Session 3 – The High-Stakes Future of Prediction Markets: Regulation, Risk and Opportunity
Once a niche product, prediction markets now drive billions of weekly wagers tied to sports, politics and current events. Presently regulated by the Commodities Futures Trading Commission, prediction markets’ rapid growth has sparked a wave of litigation and regulatory scrutiny across the US, raising a fundamental question: Will prediction markets continue to be federally regulated financial instruments, or be deemed gambling and sports betting operations subject to state law?
The answer will determine whether prediction markets can operate nationwide under one set of rules (Commodity Exchange Act), or whether they will need individual gambling licenses in each state where they want to operate. Currently, there are more than two dozen cases pending across the country involving state regulators, tribes and even consumers.
Hear from our panelists – Michelle Rogers, Rebekah Donaleski, Brian Nelson, Teresa Michaud and Elizabeth Prelogar – about the regulatory environment facing companies entering this industry, what the forthcoming decisions may mean for other existing online gambling and sports-betting platforms, and how the issue may be approached if – and when – it reaches the US Supreme Court.
For more information, please contact Caroline Keane.
Continuing legal education (CLE) credits
- CLE credit is anticipated for this live event in the amount of 1.0 credit. Credit will not be granted for on-demand viewing.
- Cooley LLP is an approved provider and may provide credit in CA, CO, IL, NY, PA and TX.
- Cooley LLP is a sponsor and may apply for credit in OH, VA and WA.
- For specific CLE credit questions, please contact Cooley’s CLE team.
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