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Sportsbooks Could Use Derivatives Market, but Is It Betting? Law360

February 17, 2021

Partner Baird Fogel was quoted in a Law360 article about a proposal to list sports event contracts on a Commodity Futures Trading Commission (CFTC) regulated futures market. According to the article, the CFTC is looking at allowing sportsbooks, vendors, and stadium owners to buy futures on the outcome of NFL games. According to the article, this move is driven by the patchwork of state laws around the legalization of sports betting and the need to balance economic risk for sportsbook operators that can’t yet operate on a nationwide level. “It is not really a bet. It is a hedge,”said Baird. "Think of it almost like insurance. You have sports betting operators and you have team owners with massive amounts of money invested in a particular event, say the Super Bowl or a regular season game.”

Read the full Law360 article >>