Sports Event Contracts Are Replacing Bets. Trump’s Regulator Is Standing Aside. Barron’s

Partner Robert Schwartz was quoted in a Barron’s article about ongoing legal disputes between prediction markets and state regulators regarding tests overseen by the Commodity Futures Trading Commission (CFTC).

“When I was at the CFTC, on multiple occasions when a court would consider an issue under the Commodity Exchange Act or a CFTC regulation—and the CFTC wasn’t involved in the case—the court would ask us to weigh in with an amicus brief or, if the issue were sufficiently important, we would get involved on our own initiative,” Rob said. “That hasn’t happened here.”

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