Outside Publication
Federal Preemption in Sports Prediction Market Litigation: This Shouldn’t Be a Jump Ball, Futures & Derivatives Law Report
March 2026In an article for the Futures & Derivatives Law Report, partner Robert A. Schwartz examines the wave of litigation that followed the launch of exchange-traded contracts tied to sporting events and the resulting pushback from state gaming regulators. After federally regulated exchanges began offering these products, several states issued cease-and-desist orders, prompting lawsuits across the country. The article focuses on that the key question is whether federal commodities law preempts state gaming laws in this context, an issue with important implications for market participants.