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Practice areas

Prediction markets and event contracts

Event contracts are regulated federally as commodity-interest products and, in several states, are also treated as wagers. The firm works on how a product is classified, who must register, and where federal and state law meet.

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What it covers

  • Classification of an event contract, and designated contract market questions
  • Where state gaming law and federal commodities law meet
  • Intermediaries and software providers around a market, and whether they are brokers
  • Registration questions for operators, platforms and affiliates
  • Commodity-pool and securities questions that a structure can raise

Questions operators bring

  • Does this contract fall inside the market’s designation, or outside it?
  • Is a state likely to treat this product as a wager?
  • Does our software make us a broker or an introducing intermediary?
  • What does a front-end structure need before it is offered?

Research on this subject

Attorney advertising. Apparently Law advises on gaming and prediction-market law in every U.S. state and territory, working with local counsel where a jurisdiction requires it. This site is informational and is not legal advice. Using it, or sending information through it, does not create an attorney–client relationship. That relationship begins only when the firm has checked for conflicts and a written engagement letter is signed by both sides. Nothing here promises or predicts the outcome of any matter. An attorney signs every decision.

Apparently LawPLLC© 2026 Apparently Law PLLC

Attorney Advertising Apparently Law PLLC, New York. Not legal advice, and no attorney–client relationship until an engagement letter is signed.

This site is informational and is not legal advice. Using it, or sending information through it, does not create an attorney–client relationship. That relationship begins only when the firm has checked for conflicts and a written engagement letter is signed by both sides. Nothing here promises or predicts the outcome of any matter. An attorney signs every decision.

Apparently Law PLLC is a New York professional limited liability company whose sole member is Kale A. Pasch. For an operator that engages it, it is the operator’s firm of record: it signs the operator’s initial opinion and gives the operator’s ongoing opinion-related advice, under its own engagement letter and billed by the firm. Who the firm acts for, and who it does not, is stated on its independence page. An attorney signs every decision.

Apparently AI is an agentic coding editor for gaming and prediction-market startups, from a separate company under common ownership with the firm. Disclosures.