Research and analysis
Gaming and prediction-market law, one mechanic at a time.
How each gaming and prediction-market mechanic works, and where it is enforced. By Kale Pasch, JD, CFA, a former Skadden, Arps attorney.
32 published pieces
- Sweepstakes casinos 12
- Prediction markets 11
- Loot boxes and skins 5
- Online casinos and sportsbooks 3
- Supplier licensing 1
Published on this site
- Sweepstakes casinosSweepstakes casinos: Florida sues the operators and their payment processorsOn August 19, Florida’s Attorney General sued VGW and Stake.us, and named five payment companies as co-defendants under a 1951 gambling-loss statute. What the complaints allege, what they do not, and what it changes for vendors.Sep 25, 2026 · 7 min
- Sweepstakes casinosSweepstakes casinos: the full analysis for buildersHow the dual-currency model is built, what the free method of entry answers and what it does not, the seven theories states now use, where the cases stand, and the designs each state’s law leaves standing.Sep 25, 2026 · 20 min
- Sweepstakes casinosSweepstakes casinos: a founder’s checklistEight questions to answer before launch, in the order the answers depend on each other — each with the statute that makes it matter and an operator’s own written answer.Sep 24, 2026 · 7 min
- Sweepstakes casinosSweepstakes casinos: what the statutes leave standingCalifornia’s and New York’s bans define the product in cumulative parts. What each part leaves open, what the operators have done with it, and why outside a statute is not the same as lawful.Sep 23, 2026 · 7 min
- Sweepstakes casinosSweepstakes casinos: four states, four ways past the free method of entryNew York defined the product, California counted the free coin, Tennessee called it a lottery and Illinois called it internet gambling — read in the statutes’ own words, and against the operators’ own terms.Sep 22, 2026 · 6 min
- Sweepstakes casinosSweepstakes casinos: what they are and the test that decides themTwo currencies, one free way in, and the three-element lottery test the model is designed around — read against the operators’ own rules, Tennessee and Illinois enforcement, and four new state statutes.Sep 21, 2026 · 8 min
- Supplier licensingGaming supplier licenses: who needs one, and how New Jersey, Pennsylvania, Michigan, Nevada and Illinois differA guide for B2B gaming technology vendors to supplier and vendor licensing, read from five states’ statutes: the activities that trigger a license, who has to qualify, the fees written into the law, and the routes to start work before the license issues.Aug 20, 2026 · 22 min
- Prediction marketsNFA and CFTC registration for prediction markets: who registers what, with whomExchanges and clearinghouses register with the CFTC directly; brokers, advisers, pool operators and their salespeople register with the CFTC through the NFA and join it. This guide sets out each category in the statute’s words, how event contracts are self-certified under Part 40 and Rule 40.11, and where the state-law litigation stands as of September 30, 2026.Aug 20, 2026 · 22 min