# ![@WALLACHLEGAL Avatar](https://lunarcrush.com/gi/w:26/cr:twitter::1861416096839966720.png) @WALLACHLEGAL Daniel Wallach

Daniel Wallach posts on X about kalshi, gaming, in the, prediction markets the most. They currently have [-----] followers and [---] posts still getting attention that total [-----] engagements in the last [--] hours.

### Engagements: [-----] [#](/creator/twitter::1861416096839966720/interactions)
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- [--] Week [-------] -58%
- [--] Month [---------] -57%
- [--] Months [----------] +5,410%
- [--] Year [----------] +5,606%

### Mentions: [--] [#](/creator/twitter::1861416096839966720/posts_active)
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- [--] Month [--] -63%
- [--] Months [---] +291%
- [--] Year [---] +1,363%

### Followers: [-----] [#](/creator/twitter::1861416096839966720/followers)
![Followers Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1861416096839966720/c:line/m:followers.svg)

- [--] Week [-----] +1.60%
- [--] Month [-----] +9.90%
- [--] Months [-----] +137%
- [--] Year [-----] +517%

### CreatorRank: [-------] [#](/creator/twitter::1861416096839966720/influencer_rank)
![CreatorRank Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::1861416096839966720/c:line/m:influencer_rank.svg)

### Social Influence

**Social category influence**
[stocks](/list/stocks)  12.66% [technology brands](/list/technology-brands)  10.76% [finance](/list/finance)  10.13% [exchanges](/list/exchanges)  #4313 [celebrities](/list/celebrities)  6.96% [musicians](/list/musicians)  6.96% [countries](/list/countries)  3.8% [social networks](/list/social-networks)  1.9% [automotive brands](/list/automotive-brands)  0.63% [nfl](/list/nfl)  0.63%

**Social topic influence**
[kalshi](/topic/kalshi) #98, [gaming](/topic/gaming) 17.09%, [in the](/topic/in-the) 13.92%, [prediction markets](/topic/prediction-markets) #461, [coinbase](/topic/coinbase) #1073, [polymarket](/topic/polymarket) #745, [betting](/topic/betting) 8.23%, [drake](/topic/drake) 6.96%, [business](/topic/business) #4975, [ban](/topic/ban) 6.33%

**Top accounts mentioned or mentioned by**
[@stevebrubaker](/creator/undefined) [@cftc](/creator/undefined) [@wvuflu](/creator/undefined) [@sportsgrid](/creator/undefined) [@senjoeaddabbo](/creator/undefined) [@muradian4rep](/creator/undefined) [@igamingadvocate](/creator/undefined) [@kifcap](/creator/undefined) [@slaxshy](/creator/undefined) [@tallrevere](/creator/undefined) [@jjeffrey100](/creator/undefined) [@predictionnews_](/creator/undefined) [@manofthelibrary](/creator/undefined) [@govchristie](/creator/undefined) [@cdcnewswire](/creator/undefined) [@victorrocha1](/creator/undefined) [@newyorkstateag](/creator/undefined) [@craigmish](/creator/undefined) [@jcohenap](/creator/undefined) [@ap](/creator/undefined)

**Top assets mentioned**
[Coinbase Global Inc. (COIN)](/topic/coinbase) [Robinhood Markets, Inc.  (HOOD)](/topic/$hood) [Frontline Ltd. (FRO)](/topic/$fro)
### Top Social Posts
Top posts by engagements in the last [--] hours

""Because Kalshi serves as a counterparty shouldering the credit risk of all bets and serving as its own market maker (facing off against consumers in the process) Kalshi and its partners are gambling 'winners' at the expense of the consumer.""  
[X Link](https://x.com/WALLACHLEGAL/status/1994045280325681616)  2025-11-27T14:06Z [----] followers, 49.6K engagements


""When consumers place bets on Kalshi they face off against money provided by a sophisticated market maker on the other side of the ledger. Market makers make it possible for consumers to place illegal unregulated wagers 'against the House.'""  
[X Link](https://x.com/WALLACHLEGAL/status/1994045766583656807)  2025-11-27T14:08Z [----] followers, 44.7K engagements


"NEW: Kalshi notifies Ohio federal court of CA6's decision in Churchill Downs v. Michigan as supplemental authority which "strongly supports" Kalshi's motion for preliminary injunction since it held that a different federal law (the IHA) preempts state licensing requirements"  
[X Link](https://x.com/WALLACHLEGAL/status/2006409426748547185)  2025-12-31T16:57Z [----] followers, [----] engagements


"In what is turning out to be a frontline issue in all PM cases Kalshi's 4th Circuit reply brief argues that the "presumption against preemption" does not apply to "express preemption" clauses such as Sec. 2(a)'s exclusive jurisdiction grant or to "interstate" sports gambling"  
[X Link](https://x.com/WALLACHLEGAL/status/2016508966457532523)  2026-01-28T13:49Z [----] followers, [----] engagements


"Kalshi reliance on Churchill Downs is misplaced. That case involved a federal law (the IHA) which required state consents and recognized that States should have the primary responsibility for determining what forms of gambling may legally take place within their borders.""  
[X Link](https://x.com/WALLACHLEGAL/status/2016517498749755754)  2026-01-28T14:23Z [----] followers, [---] engagements


"The IHA requires the consent of the host race track the host racing commission and the off-track racing commission as a prerequisite for offering intertrack wagering. That would be tantamount to requiring Kalshi under the CEA to obtain the consent of state-licensed sportsbooks"  
[X Link](https://x.com/WALLACHLEGAL/status/2016534413270548590)  2026-01-28T15:30Z [----] followers, [---] engagements


"Not wise for Kalshi to be inviting comparisons between the CEA and IHA. It accentuates the vast differences between the two statutory regimes. That is one of the dangers of using a soundbite out of context as Kalshi did with its misplaced reliance on Churchill Downs"  
[X Link](https://x.com/WALLACHLEGAL/status/2016535407781970036)  2026-01-28T15:34Z [----] followers, [---] engagements


"NEW: Kalshi has been hit with a class action lawsuit in Alabama federal court for operating an illegal sports betting website. (AL has among the strictest anti-gambling laws in the US; more than [--] sweepstakes casino lawsuits already filed). This is the 1st PM case filed in AL"  
[X Link](https://x.com/WALLACHLEGAL/status/2017069257662566642)  2026-01-30T02:56Z [----] followers, 14.4K engagements


"BREAKING: Nevada state court issues temporary restraining order against Polymarket over offering of event contracts says that the CEA does not vest exclusive jurisdiction in the CFTC. TRO will remain in effect for [--] days; hearing on the PI motion scheduled for 2/11"  
[X Link](https://x.com/WALLACHLEGAL/status/2017361984660918628)  2026-01-30T22:19Z [----] followers, 10.7K engagements


"Trading not allowed in Nevada. Tap to learn more. Its official. Polymarket exits Nevada. (h/t @ManOfTheLibrary)"  
[X Link](https://x.com/WALLACHLEGAL/status/2017741822043242996)  2026-01-31T23:28Z [----] followers, 19.7K engagements


"It seems like only a matter of time before Nevada sues all the other DCMs that are still offering sports event contracts in Nevada. Four consecutive court victories (KEX RH Crypto & Polymarket) plus Mike Dreitzer raise the stakes in NV. BREAKING: The Nevada Gaming Control Board has sued Coinbase in Carson City District Court--the same court which just issued a TRO against Polymarket. The Board seeks a TRO and preliminary injunction to stop Coinbase from offering unlicensed sports wagering in violation of NV law. BREAKING: The Nevada Gaming Control Board has sued Coinbase in Carson City"  
[X Link](https://x.com/WALLACHLEGAL/status/2018508260257533952)  2026-02-03T02:14Z [----] followers, [----] engagements


"Kalshi v. Tennessee update: U.S. District Judge Aleta A. Trauger conducted a 3-hour 50-minute oral argument yesterday on Kalshi's motion for preliminary injunction. She did not issue a ruling and took the matter under advisement"  
[X Link](https://x.com/WALLACHLEGAL/status/2018732538877841553)  2026-02-03T17:05Z [----] followers, [---] engagements


"JUST IN: New Jersey tells 3rd Circuit that CFTC Chairman Selig's public remarks last week "have no bearing on the appeal" due to Loper-Bright and his own concession that the views he expressed "are his own and do not necessarily reflect those of the Commission"  
[X Link](https://x.com/WALLACHLEGAL/status/2018734115718054298)  2026-02-03T17:11Z [----] followers, [----] engagements


"Nevada Gaming Control Board Files Civil Enforcement Action Against Coinbase Press release from NGCB:"  
[X Link](https://x.com/WALLACHLEGAL/status/2018784372837761270)  2026-02-03T20:31Z [----] followers, [----] engagements


"The Board has deemed Coinbases operations to be unlawful in Nevada and in violation of NRS [-------] NRS [-------] NRS [-------] and NRS [-------]. Nevada Gaming Control Board Files Civil Enforcement Action Against Coinbase Press release from NGCB: https://t.co/mSSN6NlOZO Nevada Gaming Control Board Files Civil Enforcement Action Against Coinbase Press release from NGCB: https://t.co/mSSN6NlOZO"  
[X Link](https://x.com/WALLACHLEGAL/status/2018792139615015134)  2026-02-03T21:02Z [----] followers, [----] engagements


"NEW: The Nevada Gaming Control Board has filed an Ex Parte Application for a Temporary Restraining Order and Preliminary Injunction against Coinbase seeking to immediately restrain and enjoin Coinbase from offering sports and other event contracts to persons located in Nevada"  
[X Link](https://x.com/WALLACHLEGAL/status/2018832945386238135)  2026-02-03T23:44Z [----] followers, [----] engagements


"The Fourth Circuit has tentatively scheduled the Kalshi v. Maryland appeal for oral argument in Richmond Virginia during the May 5-8 [----] oral argument session. (Note: this will occur on the heels on the 9th Circuit oral argument). Here is a copy of the CA4's scheduling order:"  
[X Link](https://x.com/WALLACHLEGAL/status/2019082094329135134)  2026-02-04T16:14Z [----] followers, [----] engagements


"Too late to put the genie back in the bottle on that one. See Massachusetts and Maryland court decisions"  
[X Link](https://x.com/WALLACHLEGAL/status/2019136126636962066)  2026-02-04T19:49Z [----] followers, [----] engagements


"Massachusetts Superior Court: "There can be little question that Kalshi well understood that its business model--especially once it began offering BETS on sporting events--came into direct conflict with state enforcement regimes; Kalshi chose to take that risk head on.""  
[X Link](https://x.com/WALLACHLEGAL/status/2019136805359218888)  2026-02-04T19:51Z [----] followers, [---] engagements


"Nevada Federal Court: "Kalshi could have proceeded cautiously until this and other lawsuits played out but instead it greatly expanded its offerings so it has to some extent created or amplified its own harm.""  
[X Link](https://x.com/WALLACHLEGAL/status/2019139126818435086)  2026-02-04T20:00Z [----] followers, [---] engagements


"BREAKING: Coinbase files countersuit vs. Nevada in federal court seeks an emergency TRO and preliminary injunction to block Nevada from pursuing state enforcement remedies. Judge Silva orders Nevada to respond by [--] pm Thursday; hints at "abstention" bar to later-filed suit"  
[X Link](https://x.com/WALLACHLEGAL/status/2019275744451371017)  2026-02-05T05:03Z [----] followers, [----] engagements


"Judge Silva's Order:"  
[X Link](https://x.com/WALLACHLEGAL/status/2019275989533225302)  2026-02-05T05:04Z [----] followers, [---] engagements


"NEW: The Ninth Circuit has issued a notice stating that the Kalshi v. Nevada appeal is being considered for the oral argument calendar in San Francisco for either April 13-17 or April 20-24. The appeal will likely be consolidated with the Robinhood and Crypto appeals"  
[X Link](https://x.com/WALLACHLEGAL/status/2019460173736128628)  2026-02-05T17:16Z [----] followers, [---] engagements


"NEW: Massachusetts files its opposition to Kalshi's motion for a stay pending appeal but opens the door to a brief stay contingent on Kalshi promptly filing a notice of appeal and agreeing to an expedited appellate briefing (i.e. before MA appellate courts recess for summer)"  
[X Link](https://x.com/WALLACHLEGAL/status/2019464621543895326)  2026-02-05T17:34Z [----] followers, [----] engagements


"NEW: Arizona AG issues warning against prediction markets ahead of Super Bowl says PMs "may appear similar to regulated gaming operations but in reality lack protections or guardrails like those available in AZ designed to protect those dealing with problem gambling.""  
[X Link](https://x.com/WALLACHLEGAL/status/2019466461853401216)  2026-02-05T17:41Z [----] followers, [---] engagements


"BREAKING: Nevada state court issues temporary restraining order against Coinbase over offering of event contracts schedules hearing on PI motion for Feb. 17th. Per federal judge's order yesterday the state court TRO may moot Coinbase's emergency motion in federal court"  
[X Link](https://x.com/WALLACHLEGAL/status/2019469857754931203)  2026-02-05T17:55Z [----] followers, [----] engagements


"JUST IN: Illinois legislative bill would severely curtail prediction markets by banning PMs on sporting events ban market makers require RG safeguards impose advertising restrictions and raise the minimum age to [--]. Modeled after New York ORACLE Bill. https://bit.ly/45MK38b https://bit.ly/45MK38b"  
[X Link](https://x.com/WALLACHLEGAL/status/2019520733940949286)  2026-02-05T21:17Z [----] followers, [----] engagements


"BREAKING: Illinois Gaming Board and Illinois Attorney General issue more than [--] cease-and-desist letters to companies operating illegal online casinos and/or online sweepstakes casinos. Letters sent to VGW High [--] Casino Fliff JefeBet Modo Pulsz Sportzino Pulsz and Stake"  
[X Link](https://x.com/WALLACHLEGAL/status/2019531800281071670)  2026-02-05T22:01Z [----] followers, 14.2K engagements


"BREAKING: Polymarket has removed Nevada's civil enforcement action from state court to federal court even though the state court has already issued a TRO against it claiming that the TRO "directly conflicts with federal law" and intrudes upon the CFTCs exclusive jurisdiction"  
[X Link](https://x.com/WALLACHLEGAL/status/2019553388862796258)  2026-02-05T23:27Z [----] followers, [----] engagements


"Not sure what this will accomplish. Nevada will simply file a motion to remand and Polymarket needs to demonstrate "complete preemption" to avoid remand to state court--an outcome which seems unlikely given Judge Gordon's prior rejections of the preemption argument. BREAKING: Polymarket has removed Nevada's civil enforcement action from state court to federal court even though the state court has already issued a TRO against it claiming that the TRO "directly conflicts with federal law" and intrudes upon the CFTCs exclusive jurisdiction. https://t.co/I6qjUYiXSz BREAKING: Polymarket has"  
[X Link](https://x.com/WALLACHLEGAL/status/2019556188204200017)  2026-02-05T23:38Z [----] followers, [--] engagements


"Not sure what this will accomplish. Nevada will simply file a motion to remand and Polymarket would then need to demonstrate "complete preemption" to avoid remand to state court--an outcome which seems unlikely given Judge Gordon's prior rejections of the preemption argument. BREAKING: Polymarket has removed Nevada's civil enforcement action from state court to federal court even though the state court has already issued a TRO against it claiming that the TRO "directly conflicts with federal law" and intrudes upon the CFTCs exclusive jurisdiction. https://t.co/I6qjUYiXSz BREAKING: Polymarket"  
[X Link](https://x.com/WALLACHLEGAL/status/2019556317606936972)  2026-02-05T23:38Z [----] followers, [---] engagements


"Polymarket is represented by Ted Olson's longtime law firm Gibson Dunn & Crutcher which represented @GovChristie and New Jersey in overturning PASPA by arguing that the federal government violated states' rights by barring state-regulated sports betting. BREAKING: Polymarket has removed Nevada's civil enforcement action from state court to federal court even though the state court has already issued a TRO against it claiming that the TRO "directly conflicts with federal law" and intrudes upon the CFTCs exclusive jurisdiction. https://t.co/I6qjUYiXSz BREAKING: Polymarket has removed Nevada's"  
[X Link](https://x.com/WALLACHLEGAL/status/2019558347637420186)  2026-02-05T23:46Z [----] followers, [----] engagements


"JUST IN: Nevada files its federal court brief in opposition to Coinbase's emergency motion for a TRO barring Nevada from pursuing state enforcement remedies says the emergency motion is mooted by the state courts issuance of an ex parte TRO against Coinbase earlier today"  
[X Link](https://x.com/WALLACHLEGAL/status/2019572231815459247)  2026-02-06T00:41Z [----] followers, [---] engagements


"Here is the TRO vs. Coinbase: Coinbase is prohibited from offering event-based contracts relating to sporting and other events to people within Nevada w/o obtaining all required gaming licenses. Hearing on February 17th. Signed by a different judge. CB filed an opposition"  
[X Link](https://x.com/WALLACHLEGAL/status/2019575088140693891)  2026-02-06T00:53Z [----] followers, [---] engagements


"NEW: Kalshi says it would be technologically and operationally onerous to geofence Massachusetts within a 30-day time frame; urges Superior Court to allow 90+ days to do something that other PMs have been able to do without any operational delay"  
[X Link](https://x.com/WALLACHLEGAL/status/2019800896989741408)  2026-02-06T15:50Z [----] followers, [----] engagements


"Kalshi also tells Massachusetts Superior Court that it is committed to pursuing an expeditious appeal that should be argued in May [----] before the appellate courts summer recess. Right"  
[X Link](https://x.com/WALLACHLEGAL/status/2019803175293796613)  2026-02-06T15:59Z [----] followers, [---] engagements


"Manhattan US Attorney Jay Clayton answered yes to the Q of whether he planned to take enforcement action on prediction markets telling attendees during speech at Securities Enforcement Forum that prediction markets are an area that I am looking at. https://www.fa-mag.com/news/wall-street-s-top-cop-expects-enforcement-on-prediction-markets-85790.html https://www.fa-mag.com/news/wall-street-s-top-cop-expects-enforcement-on-prediction-markets-85790.html"  
[X Link](https://x.com/WALLACHLEGAL/status/2019816810338791844)  2026-02-06T16:53Z [----] followers, [----] engagements


"NEW: Maryland pushes back on Kalshis slick attempt to use CFTC Chairman Michael I will defer to the courts Seligs public remarks as a backdoor amicus brief telling CA4 that his remarks didnt necessarily reflect CFTC views and are entitled to no deference under Loper-Bright"  
[X Link](https://x.com/WALLACHLEGAL/status/2019839001252003873)  2026-02-06T18:21Z [----] followers, [----] engagements


"The fate of these state-level efforts is unclear because as sports betting and gaming attorney Daniel Wallach pointed out on X until federal courts weigh in attempts to regulate prediction markets will get jammed up in the current preemption quagmire. https://casinobeats.com/2026/02/06/illinois-targets-prediction-markets-with-new-oracle-act-legislation/ https://casinobeats.com/2026/02/06/illinois-targets-prediction-markets-with-new-oracle-act-legislation/"  
[X Link](https://x.com/WALLACHLEGAL/status/2019853011515011574)  2026-02-06T19:17Z [----] followers, [---] engagements


"Breaking: Massachusetts Superior Court enters preliminary injunction against Kalshi requiring geofencing implementation within [--] days and DENIES Kalshis motion for a stay of the injunction pending appeal. Kalshi has already filed a notice of appeal"  
[X Link](https://x.com/WALLACHLEGAL/status/2019893355002446135)  2026-02-06T21:57Z [----] followers, [--] engagements


"Breaking: Massachusetts Superior Court enters preliminary injunction against Kalshi requiring statewide geofencing implementation within [--] days and DENIES Kalshis motion for a stay of the injunction pending appeal"  
[X Link](https://x.com/WALLACHLEGAL/status/2019893550519910405)  2026-02-06T21:58Z [----] followers, [----] engagements


"Honored to be part of the cast for an upcoming episode of PBSs groundbreaking new series Breaking the Deadlock. The episodewhich will air March 24thtackles online sports betting and prediction markets. Cast includes Sen. Blumenthal Stephanie Ruhle Tiki Barber @WVUFLU & me"  
[X Link](https://x.com/WALLACHLEGAL/status/2020484856254214494)  2026-02-08T13:08Z [----] followers, [----] engagements


"Coinbase getting pummeled in Nevada. After getting hit with a TRO in state court Coinbase tried an end-around in federal court. A federal judge just put an end to that charade. Nevada (federal) District Court judge denies Coinbase request for emergency restraining order against Nevada gaming regulators. (Coinbase v Ford) https://t.co/DV5HJcuVeI Nevada (federal) District Court judge denies Coinbase request for emergency restraining order against Nevada gaming regulators. (Coinbase v Ford) https://t.co/DV5HJcuVeI"  
[X Link](https://x.com/WALLACHLEGAL/status/2020486273664766145)  2026-02-08T13:14Z [----] followers, [----] engagements


"Sen. Blumenthal told me that hes working on an amended bill to address prediction markets. Honored to be part of the cast for an upcoming episode of PBSs groundbreaking new series Breaking the Deadlock. The episodewhich will air March 24thtackles online sports betting and prediction markets. Cast includes Sen. Blumenthal Stephanie Ruhle Tiki Barber @WVUFLU & me. https://t.co/KVR0Vyn95z Honored to be part of the cast for an upcoming episode of PBSs groundbreaking new series Breaking the Deadlock. The episodewhich will air March 24thtackles online sports betting and prediction markets. Cast"  
[X Link](https://x.com/WALLACHLEGAL/status/2020500503067873730)  2026-02-08T14:10Z [----] followers, [----] engagements


"Prediction markets: Will Supreme Court or Congress settle the issue Via @CDCNewswire (insights from @VictorRocha1 and me). Great recap of this weeks The New Normal podcast. The best hour and change youll find on the PM legal landscape. https://cdcgaming.com/prediction-markets-will-supreme-court-or-congress-settle-the-issue/ https://cdcgaming.com/prediction-markets-will-supreme-court-or-congress-settle-the-issue/"  
[X Link](https://x.com/WALLACHLEGAL/status/2020583398570688545)  2026-02-08T19:39Z [----] followers, [----] engagements


"Coinbase tells Nevada federal court that event contracts tied to the outcomes of sporting events are "paradigmatic swaps." Coincase loses bid to enjoin Nevada state court civil enforcement proceedings"  
[X Link](https://x.com/WALLACHLEGAL/status/2020720280415453581)  2026-02-09T04:43Z [----] followers, [---] engagements


"The Ninth Circuit will hold oral argument in the Kalshi Robinhood and Crypto v. Nevada appeals on Thursday April 16th at 9:30 am PST in San Francisco. The same panel is also hearing three other appeals challenging Trump administration policy shifts. Common theme that day"  
[X Link](https://x.com/WALLACHLEGAL/status/2020723679932637566)  2026-02-09T04:57Z [----] followers, [----] engagements


"Coinbase tells Nevada federal court that event contracts tied to the outcomes of sporting events are "paradigmatic swaps.""  
[X Link](https://x.com/WALLACHLEGAL/status/2020724151619604485)  2026-02-09T04:59Z [----] followers, [----] engagements


"NEW: Kalshi tells Ninth Circuit that recent Nevada state court TROs issued against Coinbase and Polymarket increase risk that Nevada "will immediately bring a state-court enforcement action against Kalshi and seek an ex parte TRO" unless a stay pending appeal is granted"  
[X Link](https://x.com/WALLACHLEGAL/status/2020905815817826758)  2026-02-09T17:01Z [----] followers, [----] engagements


"JUST IN: Nevada pushes back against Polymarket gambit to remove state court civil enforcement action to federal court following TRO issuance files motion to remand federal lawsuit back to state court where PI hearing is scheduled and seeks expedited briefing on motion"  
[X Link](https://x.com/WALLACHLEGAL/status/2021055025393574290)  2026-02-10T02:54Z [----] followers, [----] engagements


"Top U.S. gaming lawyer Daniel Wallach believes any state bid to ban prediction markets by statute is premature until the issue of who regulates the offeringthe states or the fedsis decided. https://igamingfuture.com/hawaii-two-0/ https://igamingfuture.com/hawaii-two-0/"  
[X Link](https://x.com/WALLACHLEGAL/status/2021225249824461215)  2026-02-10T14:10Z [----] followers, [---] engagements


"I'm guessing that the prominent billboard in Las Vegas during Super Bowl week did not go over well with state officials. BREAKING: Nevada tells Ninth Circuit that it will be filing a civil enforcement action vs. Kalshi in state court next week pointing to Kalshi's dramatic expansion of its business including "massively increased" trading volumes rather than attempting to maintain the status quo. https://t.co/xx6fD1e2hD BREAKING: Nevada tells Ninth Circuit that it will be filing a civil enforcement action vs. Kalshi in state court next week pointing to Kalshi's dramatic expansion of its"  
[X Link](https://x.com/WALLACHLEGAL/status/2021393291233951971)  2026-02-11T01:18Z [----] followers, [----] engagements


"Smart strategic move by Nevada. Otherwise the 9th Circuit panel may have sat on the stay motion until April if not longer which would have served as a de facto multi-month stay for Kalshi. The Nevada letter compresses that timeline without offending CA9. BREAKING: Nevada tells Ninth Circuit that it will be filing a civil enforcement action vs. Kalshi in state court next week pointing to Kalshi's dramatic expansion of its business including "massively increased" trading volumes rather than attempting to maintain the status quo. https://t.co/xx6fD1e2hD BREAKING: Nevada tells Ninth Circuit that"  
[X Link](https://x.com/WALLACHLEGAL/status/2021397161402151122)  2026-02-11T01:33Z [----] followers, [---] engagements


""While State Defendants initially agreed to temporarily forego enforcement against Kalshi during the pendency of its stay motion Kalshis own actions now compel State Defendants to take action to stop Kalshis unlawful behavior.""  
[X Link](https://x.com/WALLACHLEGAL/status/2021403165560852986)  2026-02-11T01:57Z [----] followers, [---] engagements


""At this point failing to enforce Nevada state law against Kalshi would effectively grant Kalshi the stay it seeks despite the district courts findings that Kalshi is unlikely to succeed on the merits and is causing irreparable harm to Nevada its gaming industry & the public.""  
[X Link](https://x.com/WALLACHLEGAL/status/2021403763731464223)  2026-02-11T01:59Z [----] followers, [---] engagements


"Judge Trauger also questions whether a team covering the point spread or an NBA player making a three-point shot in the second half is sufficiently tethered to a "potential economic financial or commercial consequence" to qualify as a 'swap' under the CEA"  
[X Link](https://x.com/WALLACHLEGAL/status/2021419475074240974)  2026-02-11T03:02Z [----] followers, [---] engagements


"JUDGE: "But what is the financial consequence--other than who's going to win or lose some money-- but other than that how is it associated with a financial consequence" KALSHI: "It's associated with financial consequences for the player at issue." JUDGE: "But not right away.""  
[X Link](https://x.com/WALLACHLEGAL/status/2021421743030902923)  2026-02-11T03:11Z [----] followers, [---] engagements


"If Kalshi fails to get a PI against NY the NYAG would be able to seek the following remedies in state court: 1) Disgorgement restitution injunction and civil penalties 2) Nationwide disgorgement of net profits 3) Personal liability of principals officers and directors🧵 Warning shot fired by @NewYorkStateAG: "Attorney General James is warning the industry that the conduct advertisement and promotion of unlicensed sports wagering violate New Yorks gambling laws and could be subject to civil and criminal liability." https://t.co/4Wjohkbrpg Warning shot fired by @NewYorkStateAG: "Attorney"  
[X Link](https://x.com/WALLACHLEGAL/status/2018701914733453700)  2026-02-03T15:03Z [----] followers, [----] engagements


"NEW: Kalshi has filed a motion to stay the preliminary injunction issued by Massachusetts Superior Court Judge Christopher Barry-Smith with the Massachusetts Appeals Court where it has been assigned to a Single Justice (Sabita Singh)"  
[X Link](https://x.com/WALLACHLEGAL/status/2021625625803415735)  2026-02-11T16:41Z [----] followers, [----] engagements


""Kalshi started offering sports contracts despite the CFTCs express prohibition on those contracts. Then it chose to forge ahead with an untested preemption theory even though the district court warned Kalshi that it was 'proceeding at its own risk and creating its own harms.'""  
[X Link](https://x.com/WALLACHLEGAL/status/2022086446140830162)  2026-02-12T23:12Z [----] followers, [---] engagements


"NEW: Nevada files opposition to Kalshi's emergency motion for administrative stay to block state civil enforcement efforts while Kalshi's motion for stay remains pending at the CA9 says that Kalshi's "aggressive and reckless expansion" undermines any claim to equitable relief"  
[X Link](https://x.com/WALLACHLEGAL/status/2022039023271981189)  2026-02-12T20:04Z [----] followers, [----] engagements


"The "enormous billboard on the Las Vegas Strip" to encourage betting on Kalshi's platform for the Super Bowl--along with expanding its menu of betting options (Japanese basketball B League) following its court loss--may have prompted Nevada to tee up a civil enforcement action"  
[X Link](https://x.com/WALLACHLEGAL/status/2022074501404799140)  2026-02-12T22:25Z [----] followers, [---] engagements


"Nevada's bold move against Kalshi "reflects Nevada Gaming Control Board Chair Mike Dreitzer's 'take-no-prisoners' approach towards prediction markets. With a 5-0 record in court can you blame him I joined @craigmish on @sportsgrid to discuss: https://sports.yahoo.com/videos/nevadas-bold-move-against-prediction-195453006.htmlguccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAIpkj6QPzDEDVD2f9yN5fzVlXNVHLuQ3zQ08GcuLoRSlFHeUkI-Zby1T9JYYck9uFyvltwSH4U2fz0jB5_cNStL2SoXFTqtcHPBGVsE_0dJK9X2NycfNv-p8XcJpbxa63pBSjLCGHUTvWI2WCjipJruM4U1G9cpvFHyGy5y9HU11"  
[X Link](https://x.com/WALLACHLEGAL/status/2022140008770286000)  2026-02-13T02:45Z [----] followers, [----] engagements


"Exchange vs. House-Banked "A 'distinction without a difference' said Daniel Wallach a prominent sports gaming attorney. "Exchange wagering is one way in which gambling can occur. See e.g. pari-mutuel wagering Via @JCohenAP @AP https://apnews.com/article/kalshi-polymarket-nfl-nba-mlb-nhl-663ec7f5da78aeed7d7c145bb9cb65ca https://apnews.com/article/kalshi-polymarket-nfl-nba-mlb-nhl-663ec7f5da78aeed7d7c145bb9cb65ca"  
[X Link](https://x.com/WALLACHLEGAL/status/2022336973583868400)  2026-02-13T15:48Z [----] followers, [---] engagements


"NEW: Kalshi has been hit with a nationwide class action lawsuit in the SDNY for operating an illegal online sports betting platform and for "duping" customers into believing that they are legally gambling against other consumers when they are actually gambling against the house"  
[X Link](https://x.com/WALLACHLEGAL/status/1994039650877628546)  2025-11-27T13:44Z [----] followers, 5.1M engagements


"The last gambling lawsuit of [----] is a doozy a federal RICO class action vs. Stake and rapper Drake for promoting an illegal online gambling site under the guise of a fake sweepstakes. Drake is accused of using the platform to artificially inflate play counts of his music"  
[X Link](https://x.com/WALLACHLEGAL/status/2006769316763677038)  2026-01-01T16:47Z [----] followers, 2.6M engagements


"NEW: Kalshi accuses Nevada Gaming Control Board of "unprofessional conduct" in threatening to file civil enforcement proceedings in state court while the CA9 appeal (and related motion for stay) are pending says that denial of stay would lead to "total chaos" (i.e. geofencing)"  
[X Link](https://x.com/WALLACHLEGAL/status/2022414233347260642)  2026-02-13T20:55Z [----] followers, [---] engagements


"Both Coinbase and Polymarket filed oppositions to Nevada's TRO motions in state court and had PI hearings scheduled. So to say there would be no "meaningful opportunity" to oppose such a motion is wildly inaccurate. Sounds more like the state court influenza. Kalshi: "Absent an administrative stay Kalshi faces imminent and irreparable harm most notably in the form of a looming ex parte TRO that Kalshi will not have a meaningful opportunity to oppose and that will force Kalshi to immediately suspend its entire business in Nevada." https://t.co/AdGmHIi6hO Kalshi: "Absent an administrative stay"  
[X Link](https://x.com/WALLACHLEGAL/status/2022416336262152372)  2026-02-13T21:03Z [----] followers, [---] engagements


"NEW: Polymarket hit with a nationwide class action lawsuit in the SDNY for operating "an illegal online sports gambling platform that is marketed as a 'prediction market' but in reality is an unlicensed sports betting enterprise prohibited under various state laws.""  
[X Link](https://x.com/WALLACHLEGAL/status/2019313598972195027)  2026-02-05T07:34Z [----] followers, 881.8K engagements


"BREAKING: Nevada tells Ninth Circuit that it will be filing a civil enforcement action vs. Kalshi in state court next week pointing to Kalshi's dramatic expansion of its business including "massively increased" trading volumes rather than attempting to maintain the status quo"  
[X Link](https://x.com/WALLACHLEGAL/status/2021392451030876304)  2026-02-11T01:14Z [----] followers, 29.8K engagements


""To State Defendants knowledge Kalshi is the only prediction market currently operating in Nevada. Its continued operation harms the State and the public every day and poses an existential threat to the States gaming industry.""  
[X Link](https://x.com/WALLACHLEGAL/status/2021402759891960125)  2026-02-11T01:55Z [----] followers, [----] engagements


"Nevada is 5-0 in court. Wins against: - Kalshi - Robinhood - Crypto - Coinbase - Polymarket BREAKING: Nevada tells Ninth Circuit that it will be filing a civil enforcement action vs. Kalshi in state court next week pointing to Kalshi's dramatic expansion of its business including "massively increased" trading volumes rather than attempting to maintain the status quo. https://t.co/xx6fD1e2hD BREAKING: Nevada tells Ninth Circuit that it will be filing a civil enforcement action vs. Kalshi in state court next week pointing to Kalshi's dramatic expansion of its business including "massively"  
[X Link](https://x.com/WALLACHLEGAL/status/2021429355466108963)  2026-02-11T03:41Z [----] followers, 10.7K engagements


"NEW: Kalshi files emergency motion for administrative stay with the 9th Circuit seeking to head off Nevada's threat to initiate civil enforcement proceedings. Kalshi claims that Nevada "reneged" on prior agreement not to initiate such proceedings during pendency of stay motion"  
[X Link](https://x.com/WALLACHLEGAL/status/2021671081858281807)  2026-02-11T19:42Z [----] followers, [----] engagements


"Kalshi seeks an immediate administrative stay pending resolution of Kalshis motion for a stay pending appeal"  
[X Link](https://x.com/WALLACHLEGAL/status/2021672626167382438)  2026-02-11T19:48Z [----] followers, [---] engagements


"Kalshi/Coinbase v. Connecticut update: U.S. District Judge Vernon D. Oliver conducted a combined 3-hour 41-minute oral argument earlier today on Kalshi's and Coinbase's motions for preliminary injunction. He did not issue a ruling and took the matter under advisement"  
[X Link](https://x.com/WALLACHLEGAL/status/2021704820474650730)  2026-02-11T21:56Z [----] followers, [----] engagements


"NEW: Polymarket hit with a second class action lawsuit in the SDNY for operating an "unlicensed sports betting enterprise" which plaintiff alleges is marketed as a "prediction market to hide the fact that the platform provides for and facilitates illegal sports gambling.""  
[X Link](https://x.com/WALLACHLEGAL/status/2021727273427095981)  2026-02-11T23:25Z [----] followers, [----] engagements


"Nevada: "Kalshi has expanded its unlicensed gambling business to the detriment of competitors that follow the rules" citing Kalshi's 27-fold increase in Super Bowl betting over the prior year compared with Nevada's regulated sportsbooks' 15% decline from the previous year"  
[X Link](https://x.com/WALLACHLEGAL/status/2022076521465491698)  2026-02-12T22:33Z [----] followers, [---] engagements


"Nevada: "Despite the dissolution of the preliminary injunction it launched new series of sports wagers entered into additional partnerships and aggressively marketed its platform leading to record downloads and betting volumes. Kalshi has no claim to the equities.""  
[X Link](https://x.com/WALLACHLEGAL/status/2022088526926688372)  2026-02-12T23:20Z [----] followers, [---] engagements


""State Defendants have never taken the position that offering contracts on genuine commodity derivatives constitutes unlawful sports betting. Besides sports wagers are 95% of Kalshis business; Kalshi cannot reasonably assert that it is worried about soybean futures.""  
[X Link](https://x.com/WALLACHLEGAL/status/2022089359953211709)  2026-02-12T23:24Z [----] followers, [---] engagements


"Kalshi: "Absent an administrative stay Kalshi faces imminent and irreparable harm most notably in the form of a looming ex parte TRO that Kalshi will not have a meaningful opportunity to oppose and that will force Kalshi to immediately suspend its entire business in Nevada.""  
[X Link](https://x.com/WALLACHLEGAL/status/2022414589410054546)  2026-02-13T20:56Z [----] followers, [---] engagements


"Kalshi tells the 9th Circuit that prediction markets are no more susceptible to gambling-related scandals than state-licensed sports books noting that the recent NBA and MLB scandals "involved state-regulated sportsbooksnot CFTC-regulated prediction markets." #StrainsCredulity"  
[X Link](https://x.com/WALLACHLEGAL/status/2022447388971905303)  2026-02-13T23:06Z [----] followers, [---] engagements


""Even Drakes official Instagram account ('champagnepapi') and X account ('Drizzy') prominently display his partnership with Stake which reach over [---] million and [--] million followers respectively. That placement puts it ahead of his other ventures.""  
[X Link](https://x.com/WALLACHLEGAL/status/1982971980514242681)  2025-10-28T00:45Z [----] followers, 10.8K engagements


"FanDuel and DraftKings will geofence states and tribal lands which severely undercuts two of Kalshis core arguments: 1) that geofencing conflicts with CFTC impartial-access rules and 2) geolocation is expensive and logistically challenging. h/t @SteveRuddock"  
[X Link](https://x.com/anyuser/status/1988978789377024167)  2025-11-13T14:34Z [----] followers, [----] engagements


"NEW: Swish Analytics has sued rival oddsmakers Oddsjam and OpticOdds in San Francisco Superior Court alleging that they misappropriated Swishs proprietary sports betting odds information directly off its clients websites and sold access to that info causing $100m+ in damages"  
[X Link](https://x.com/WALLACHLEGAL/status/1872959870137450847)  2024-12-28T10:56Z [----] followers, 116.8K engagements


"NEW: A bill to legalize online casino gambling (iGaming) has been introduced in the Wyoming Legislature. HB [---] would authorize "not less than five (5) interactive gaming operator permits" and tax GGR at 16%. Bill follows a @SpectrumGamingG market study. https://www.wyoleg.gov/Legislation/2025/HB0162 https://www.wyoleg.gov/Legislation/2025/HB0162"  
[X Link](https://x.com/WALLACHLEGAL/status/1879513199420268755)  2025-01-15T12:57Z [----] followers, [----] engagements


"NEW: A bill to legalize iGaming and online lottery has been introduced in the Indiana Legislature by Rep. @EthanEManning. HB [----] would also authorize and regulate lottery courier services. Provides for a tiered iGaming tax rate of between 22% and 30%. https://iga.in.gov/pdf-documents/124/2025/house/bills/HB1432/HB1432.01.INTR.pdf https://iga.in.gov/pdf-documents/124/2025/house/bills/HB1432/HB1432.01.INTR.pdf"  
[X Link](https://x.com/WALLACHLEGAL/status/1879529058377281897)  2025-01-15T14:00Z [----] followers, [----] engagements


"NEW: A bill to ban proxy betting has been filed in the Iowa Legislature. HB [--] would treat proxy betting and sports betting account sharing as "illegal gambling" punishable as a Class D felony (for amounts over $500) with up to [--] years "confinement." https://bit.ly/4hjNeaS https://bit.ly/4hjNeaS"  
[X Link](https://x.com/WALLACHLEGAL/status/1879778328737137101)  2025-01-16T06:30Z [----] followers, 207K engagements


"NEW: A second iGaming bill has been filed in Maryland. Sen. Ron Watson has refiled last year's HB [----] as Senate Bill [---] and it is scheduled for a hearing on Jan. 29th (10:30 am) before the Senate Budget and Taxation Committee. https://bit.ly/40GwGUZ https://bit.ly/40GwGUZ"  
[X Link](https://x.com/WALLACHLEGAL/status/1880911472555114668)  2025-01-19T09:33Z [----] followers, [----] engagements


"NEW: A bill to legalize iLottery and iGaming is filed in New York by @SenJoeAddabbo. Eligible licensees are casinos VLTs tribes and OSB providers. Licensing ban if offered unlicensed games within last [--] yrs. Labor peace agreement required; 30.5% tax rate; $2m/$10m license fee"  
[X Link](https://x.com/WALLACHLEGAL/status/1881910108286029987)  2025-01-22T03:41Z [----] followers, 14K engagements


"A 3rd iGaming bill is about to be filed in Massachusetts and it may be the one to watch. Sponsored by @Muradian4Rep a member of the @NCLGS model iGaming legislation task force HD [----] is being worked on by House Counsel. It may draw heavily from the NCLGS model iGaming bill. NEW: Two bills to legalize online casino gambling (iGaming) have been filed in Massachusetts. Category [--] licensees (casinos) would get [--] skins (+ separate branding for poker). [--] licenses total to Category [--] licensees -- "best qualified" receive. $5m licensing fee/5 yrs. 20% tax. https://t.co/lRfFVb1kwR NEW: Two bills to"  
[X Link](https://x.com/WALLACHLEGAL/status/1882019308232233070)  2025-01-22T10:55Z [----] followers, [----] engagements


"Hawaii joins the iGaming bill blitz. Senate Bill [----] would create the Hawaii Lottery and Gaming Corporation for the purpose of conducting competitive bidding to select an exclusive iGaming and iLottery provider. Does not include sports betting. SB 1507: https://bit.ly/4h6TYJc https://bit.ly/4h6TYJc"  
[X Link](https://x.com/WALLACHLEGAL/status/1882308553513611590)  2025-01-23T06:05Z [----] followers, [----] engagements


"NEW: A bill to prohibit online sweepstakes casinos has been filed in the Maryland Legislature. SB [---] also proposes the license denial and/or revocation of any person or entity that supports or promotes the operation of online sweepstakes games. https://bit.ly/42IXGog https://bit.ly/42IXGog"  
[X Link](https://x.com/WALLACHLEGAL/status/1886798135713821006)  2025-02-04T15:25Z [----] followers, 12.5K engagements


"NEW: Two bills to legalize iGaming have been filed in the Illinois Legislature. SB [----] & HB [----] would create the Internet Gaming Act. [--] skins per licensee; 25% tax on GGR; $250k license fee; renewal contingent on labor force not reduced by 25% or more. https://legiscan.com/IL/bill/SB1963/2025 https://legiscan.com/IL/bill/SB1963/2025"  
[X Link](https://x.com/WALLACHLEGAL/status/1887734172732555355)  2025-02-07T05:24Z [----] followers, [----] engagements


"BREAKING: Arizona Cardinals owner Michael Bidwill has been sued for workplace discrimination by his former personal assistant (a single mother and decorated Navy veteran) who alleges that she was "continuously tormented" and "unmercifully harassed" in an effort to drive her out"  
[X Link](https://x.com/WALLACHLEGAL/status/1887748340110029294)  2025-02-07T06:20Z [----] followers, 85.6K engagements


"JUST IN: A federal antitrust lawsuit has been filed against the National FootballLeague for engaging in a content partnership with X (formerly Twitter) and directing a group boycott of Twitters competitor Bluesky prohibiting NFL teams from using the social media platform"  
[X Link](https://x.com/WALLACHLEGAL/status/1889524888483868908)  2025-02-12T04:00Z [----] followers, [----] engagements


"BREAKING: Separate bills to legalize sports betting (HJR 134) and casino gambling + sports betting (HJR 137) have been filed in the Texas Legislature. HJR [---] would cap casino licenses at [--] and tax casinos and sports betting at 15%. Both measures would go on Nov. [----] ballot"  
[X Link](https://x.com/WALLACHLEGAL/status/1889868233249005656)  2025-02-13T02:44Z [----] followers, [----] engagements


"BREAKING: New York becomes the 5th state to propose a ban on sweepstakes casinos. SB [----] would prohibit certain persons" from "operating conducting or promoting" online sweepstakes casinos. Ban would extend to payment processors geolocation providers gaming content suppliers platform providers and media affiliates among others. Penalties include a fine of up to $100K for each violation loss of gaming license and permanent ineligibility for a gaming license. Notably the penalty provisions also apply to individual investors investment firms and board members (both inside and outside"  
[X Link](https://x.com/WALLACHLEGAL/status/1896984077313700081)  2025-03-04T18:00Z [----] followers, 29.9K engagements


"NEW: Sweepstakes casino giant VGW sued in Kentucky by group seeking 3X damages for all persons who lost $ on Chumba and Luckyland. Complaint highlights 1:1 ratio between USD and SCs and attaches prospectus indicating that VGW copied the Internet sweepstakes cafe business model"  
[X Link](https://x.com/WALLACHLEGAL/status/1897161736400331174)  2025-03-05T05:46Z [----] followers, [----] engagements


"BREAKING: High [--] Games a majority owner of High [--] Casino to be charged with [----] criminal counts of conducting illegal gaming activity in Connecticut per the CT Department of Public Safety. 1st sweeps operator to face criminal charges in the US. https://portal.ct.gov/dcp/news-releases-from-the-department-of-consumer-protection/2025-news-releases/dcp-issues-summary-suspension-of-high5games-license-for-conducting-illegal-gaming-activitylanguage=en_US"  
[X Link](https://x.com/WALLACHLEGAL/status/1900782567227285932)  2025-03-15T05:34Z [----] followers, 10.9K engagements


"Arkansas bills to legalize iGaming and ban sweepstakes casinos were filed earlier today in the Senate and House. HB 1861: (14 co-sponsors) SB 524: (14 co-sponsors) https://bit.ly/4hqamE5 https://bit.ly/4iuUIIy https://bit.ly/4hqamE5 https://bit.ly/4iuUIIy"  
[X Link](https://x.com/WALLACHLEGAL/status/1902532702554702106)  2025-03-20T01:28Z [----] followers, [----] engagements


"According to his LinkedIn bio incoming CFTC Chair Brian Quintenz remains on Kalshis board even though he will soon be weighing in on prediction markets (and sports-related event contracts) with no plans to recuse himself from the discussions"  
[X Link](https://x.com/WALLACHLEGAL/status/1908099647949676850)  2025-04-04T10:09Z [----] followers, [----] engagements


"NEW: has been hit with a class action brought in Illinois federal court by same law firm which just won a $25M judgment against High [--] Gaming in WA. Lawsuit seeks recovery of gambling losses on behalf of all IL residents who lost money on Stakes website. http://Stake.us http://Stake.us"  
[X Link](https://x.com/WALLACHLEGAL/status/1909479332717731896)  2025-04-08T05:32Z [----] followers, 16.4K engagements


"NEW: Kalshis Nevada Court Win May Be Short-Lived Due To Federal Wire Act Ban On Sports Betting My latest for @ForbesSports https://www.forbes.com/sites/danielwallach/2025/04/15/kalshis-nevada-court-win-may-be-short-lived-due-to-federal-wire-act-ban-on-sports-betting/ https://www.forbes.com/sites/danielwallach/2025/04/15/kalshis-nevada-court-win-may-be-short-lived-due-to-federal-wire-act-ban-on-sports-betting/"  
[X Link](https://x.com/WALLACHLEGAL/status/1912228497117806795)  2025-04-15T19:36Z [----] followers, [----] engagements


"BREAKING: New Jersey federal court grantsKalshi's motion forpreliminary injunction against the NJ Division of Gaming Enforcement says Kalshis sports-related event contracts fall within the CFTCs exclusive jurisdiction"  
[X Link](https://x.com/WALLACHLEGAL/status/1916911013972103384)  2025-04-28T17:42Z [----] followers, 14K engagements


"BREAKING: Wheel of Fortune host Ryan Seacrestwho is the official celebrity endorser for Chumba Casinohas been sued for promoting and advertising illegal gambling in California by promoting the popular sweepstakes casino website via social media and other advertising channels"  
[X Link](https://x.com/WALLACHLEGAL/status/1918348132427174081)  2025-05-02T16:53Z [----] followers, 22.6K engagements


"NEW: Kalshi Susquehanna and Robinhood hit with lawsuits in Ohio Illinois Massachusetts and South Carolina for operating an illegal gambling enterprise under the guise of prediction markets. Plaintiffs seek the recovery of gambling losses for in-state residents"  
[X Link](https://x.com/WALLACHLEGAL/status/1933396422100914369)  2025-06-13T05:30Z [----] followers, 11.6K engagements


"Its Not Gambling Its Predicting Via @matt_levine Kalshi offers a prediction market where you can bet on sports. No Sorry Wrong It offers a prediction market where you can predict which team will win a sports game. Completely different. https://www.bloomberg.com/opinion/newsletters/2025-06-17/it-s-not-gambling-it-s-predicting https://www.bloomberg.com/opinion/newsletters/2025-06-17/it-s-not-gambling-it-s-predicting"  
[X Link](https://x.com/WALLACHLEGAL/status/1935050565207105606)  2025-06-17T19:03Z [----] followers, [----] engagements


"BREAKING: A bill to prohibit online sweepstakes casinos was filed today in California"  
[X Link](https://x.com/WALLACHLEGAL/status/1936180270082015293)  2025-06-20T21:52Z [----] followers, [----] engagements


"JUST IN: Underdog Fantasy has sued the California Attorney General in Sacramento County Superior Court to block the AG's Office from releasing its forthcoming legal opinion on daily fantasy sports contests"  
[X Link](https://x.com/WALLACHLEGAL/status/1939882313602474003)  2025-07-01T03:02Z [----] followers, 79.4K engagements


""If issued the opinion will poison a thriving industry that serves millions of Californians. It will cast a legal cloud over the companies that organize DFS contests. In short it will cost jobs squander investments and deprive Californians of an activity that millions enjoy.""  
[X Link](https://x.com/WALLACHLEGAL/status/1939889431189889291)  2025-07-01T03:30Z [----] followers, [----] engagements


"BREAKING: @Underdog's motion for a temporary restraining order to prevent the California Attorney General from releasing his legal opinion on daily fantasy sports contests has just been DENIED by Sacramento County Superior Court Judge Jennifer Rockwell"  
[X Link](https://x.com/WALLACHLEGAL/status/1940512243126599835)  2025-07-02T20:45Z [----] followers, 33.1K engagements


"BREAKING: The Louisiana Attorney General has issued a legal opinion declaring that online sweepstakes casinos constitute illegal gambling and threatening criminal and civil enforcement action against those who continue to operate in the state. (h/t @hglaser1)"  
[X Link](https://x.com/WALLACHLEGAL/status/1940543633054372085)  2025-07-02T22:50Z [----] followers, 14.6K engagements


"BREAKING: California Department of Justice Releases Legal Opinion on Daily Fantasy Sports https://oag.ca.gov/news/press-releases/california-department-justice-releases-legal-opinion-daily-fantasy-sports https://oag.ca.gov/news/press-releases/california-department-justice-releases-legal-opinion-daily-fantasy-sports"  
[X Link](https://x.com/WALLACHLEGAL/status/1940855070037528762)  2025-07-03T19:28Z [----] followers, [----] engagements


"BREAKING: Three federally recognized California Indian tribes have sued Kalshi and Robinhood in CA federal court alleging that the two companies are unlawfully engaging in sports betting by offering sports-outcome event contracts on the tribes Indian lands in violation of IGRA"  
[X Link](https://x.com/WALLACHLEGAL/status/1947881062673388029)  2025-07-23T04:46Z [----] followers, 21.2K engagements


"My takeaways on yesterday's ruling in Kalshi v. Maryland: 1) It was evident from the May 28th oral argument transcript that Judge Abelson viewed the preemption issue as laser-focused on the narrow question of whether Congress intended for this specific type of product -- i.e. sports betting -- to be included on CFTC-regulated futures markets. Remember Kalshi wanted to frame the preemption issue much more broadly -- i.e that the CEA granted the CFTC exclusive jurisdiction over "all" contracts traded on its exchanges. Judge Abelson was having none of that. Here is a quote from the 5/28 oral"  
[X Link](https://x.com/WALLACHLEGAL/status/1951628681111097567)  2025-08-02T12:58Z [----] followers, [----] engagements


"CFTC wont do a thing about it despite Rule 40.11s express ban against event contracts relating to gaming. Can you say regulatory capture This morning @DraftKings and @FanDuel's most profitable product line is at risk. @Kalshi just filed to list player props and spreads on a regulated exchange - it everything for sports betting economics. And the @CFTC has just [--] hours to do something about it. 🧵 https://t.co/mS5i9q8RCS This morning @DraftKings and @FanDuel's most profitable product line is at risk. @Kalshi just filed to list player props and spreads on a regulated exchange - it everything"  
[X Link](https://x.com/WALLACHLEGAL/status/1957441001213005891)  2025-08-18T13:54Z [----] followers, [----] engagements


"NEW: Massachusetts lawmaker introduces bill to both legalize #iGaming and ban online sweepstakes casinos. House Bill [----] filed by @Muradian4Rep has been referred to the Joint Committee on Economic Development and Emerging Technologies. https://legiscan.com/MA/text/H4431/2025 https://legiscan.com/MA/text/H4431/2025"  
[X Link](https://x.com/WALLACHLEGAL/status/1958207250293526593)  2025-08-20T16:39Z [----] followers, [----] engagements


"BREAKING: Evolution and Pragmatic Play exit in California following @CityAttorneyLAs civil enforcement action against the sweepstakes casino operator its founders and suppliers. Via @ThomasAkoo https://next.io/news/casino/evolution-pragmatic-exit-stake-us-california/ http://Stake.us https://next.io/news/casino/evolution-pragmatic-exit-stake-us-california/ http://Stake.us"  
[X Link](https://x.com/WALLACHLEGAL/status/1962553940509077841)  2025-09-01T16:31Z [----] followers, [----] engagements


"BREAKING: California Tribes ask federal court to issue an immediate preliminary injunction against Kalshi & Robinhood to prevent them from offering sports wagering event contracts on Indian lands. If granted the [--] DCMs would need to geofence tribal lands to avoid IGRA violation. Such relief could have far-reaching national consequences. Who else might want the same thing Its a long list: (1) [---] other tribes in California; (2) tribes throughout the rest of the United States; (3) the three states which have been sued by Kalshi (NJ NV and MD although MD has agreed to pause enforcement of its"  
[X Link](https://x.com/WALLACHLEGAL/status/1963766668917703120)  2025-09-05T00:50Z [----] followers, 16.2K engagements


"BREAKING: The Louisiana Department of Revenue has sued online sweepstakes casino operators VGW and MW Services (dba "WOW Vegas") for $44 million in unpaid taxes interest and penalties based on estimated sales of virtual currency to in-state residents"  
[X Link](https://x.com/WALLACHLEGAL/status/1964308792230711583)  2025-09-06T12:44Z [----] followers, [----] engagements


"Thats how you know Kalshi is on the wrong side of the legal argument. They have to traffic in that nonsense and pay former lawmakers to rewrite legislative history [--] years after the fact. They are using the same sky is falling rhetoric as sweepstakes casinos. Same playbook. https://t.co/eYBZFyAEGn https://t.co/eYBZFyAEGn"  
[X Link](https://x.com/WALLACHLEGAL/status/1965535921962619048)  2025-09-09T22:00Z [----] followers, [----] engagements


"BREAKING: Robinhood has filed a lawsuit in Mass. federal court against the @MassAGO and @MassGamingComm to block the two state agencies "from enforcing preempted Massachusetts law against Robinhood for its facilitation of transactions involving sports-related event contracts.""  
[X Link](https://x.com/WALLACHLEGAL/status/1967637517865455874)  2025-09-15T17:11Z [----] followers, [----] engagements


"BREAKING: Michigan Gaming Control Board warns licensed gaming operators that any involvement in the offering of sports-event contracts "will have implications relative to your licensure in Michigan.""  
[X Link](https://x.com/WALLACHLEGAL/status/1974127723200303497)  2025-10-03T15:01Z [----] followers, 20.4K engagements


"NYT: Is Sports Betting Illegal in Your State: Not if You Call It a Prediction Market. The absurdity goes mainstream. Via @nytimes https://www.nytimes.com/2025/10/05/upshot/sports-betting-prediction-markets.html https://www.nytimes.com/2025/10/05/upshot/sports-betting-prediction-markets.html"  
[X Link](https://x.com/WALLACHLEGAL/status/1974832112848044349)  2025-10-05T13:40Z [----] followers, [----] engagements


"NEW: Nevada federal judge explains on the record that because sports prediction contracts are based on the outcomes of sporting events rather than their occurrence or non-occurrence they do not qualify as swaps under the CEA. http://Crypto.com http://Crypto.com"  
[X Link](https://x.com/WALLACHLEGAL/status/1975188832913064310)  2025-10-06T13:18Z [----] followers, 12.2K engagements


"Really The same CFTC which: - has only [--] commissioner - lost 28% of its staff - has ceased operations during the government shutdown - has no sports-related integrity requirements - wont enforce its existing ban on gambling contracts We are living in bizarre times. The federal government is significantly better equipped to regulate financial markets than [--] separate slot machine regulators which do not have the capacity expertise or legal jurisdiction to regulate futures. - Sara Slane on why CFTC can better regulate sports contracts The federal government is significantly better equipped to"  
[X Link](https://x.com/WALLACHLEGAL/status/1977699497162453146)  2025-10-13T11:34Z [----] followers, [----] engagements


"Judge Gordon has flipped the script. His written decision in the Crytpo dot com case is a home run for Nevada and a setback for sports prediction markets. And it goes much further than expected. Here are the key "preliminary" findings: 1) Contracts based on the "outcomes" of sporting events do not qualify as "swaps." 2) "Swaps" depend on the "occurrence" or "non-occurrence" of an "event" (as per the CEA). The key word being "EVENT." 3) "Outcomes" are not "events." 4) "The ordinary meaning of 'event' in terms of sports would be the sporting event itself not who wins it." 5) "An ordinary"  
[X Link](https://x.com/WALLACHLEGAL/status/1978308157345562859)  2025-10-15T03:53Z [----] followers, 18K engagements


"NEW: Ohio becomes the second state to engage outside counsel in litigation against Kalshi joining Nevada (which turned its fortunes around when it retained Mayer Brown and SCOTUS litigator Nicole Saharsky). Smart move by Ohio. Still waiting on a hearing date for the PI motion"  
[X Link](https://x.com/WALLACHLEGAL/status/1978589553146380363)  2025-10-15T22:31Z [----] followers, [----] engagements


"BREAKING: Nevada files an emergency motion to dissolve the preliminary injunction that was granted to Kalshi six months earlier says that Judge Gordon's denial of a PI in Crypto "now makes clear that Kalshi is not likely to succeed on the merits.""  
[X Link](https://x.com/WALLACHLEGAL/status/1979655656547512572)  2025-10-18T21:07Z [----] followers, 14.8K engagements


"It's absolutely wild to me that one of the largest sweepstakes casino operators in the U.S. is headquartered in Miami Florida -- the state where it is crystal clear under existing law that perpetual real-money online sweepstakes casino games are not legal"  
[X Link](https://x.com/WALLACHLEGAL/status/1979974644598714370)  2025-10-19T18:15Z [----] followers, [----] engagements


"While Kalshi trades cleared swaps under the purview of the CFTC InPlay's products will instead be structured as securities and regulated by the SEC. This will allow for the use of leverage and enable market makers to sidestep onerous swap dealer registration requirements"  
[X Link](https://x.com/WALLACHLEGAL/status/1980245600747577804)  2025-10-20T12:11Z [----] followers, 21.2K engagements


"Sports betting regulated by the Securities and Exchange Commission is coming soon. While Kalshi trades cleared swaps under the purview of the CFTC InPlay's products will instead be structured as securities and regulated by the SEC. This will allow for the use of leverage and enable market makers to sidestep onerous swap dealer registration requirements. https://t.co/xImBA9w5XM While Kalshi trades cleared swaps under the purview of the CFTC InPlay's products will instead be structured as securities and regulated by the SEC. This will allow for the use of leverage and enable market makers to"  
[X Link](https://x.com/WALLACHLEGAL/status/1980246469266260339)  2025-10-20T12:15Z [----] followers, [----] engagements


"I think the CFTC is going to get swallowed. You're going to see more and more of these cases of insider trading happening on prediction markets because the CFTC isnt doing surveillancethey dont have the manpower to catch it on their https://decrypt.co/345961/sports-betting-scandals-nba-prediction-marketsamp=1 https://decrypt.co/345961/sports-betting-scandals-nba-prediction-marketsamp=1"  
[X Link](https://x.com/WALLACHLEGAL/status/1982452600428470739)  2025-10-26T14:21Z [----] followers, 17.8K engagements


"Another compelling read. For states and tribes Kalshi is actually the perfect litigation adversary. A boatload of prior inconsistent judicial statements and an aggressive expansion strategy that undermines its legal position in every lawsuit. A master class in recklessness. Sports betting is now legal everywhereeven in the states where it isnt @MarcNovicoff writes: https://t.co/RqVdq0Bk71 Sports betting is now legal everywhereeven in the states where it isnt @MarcNovicoff writes: https://t.co/RqVdq0Bk71"  
[X Link](https://x.com/WALLACHLEGAL/status/1982481135692369930)  2025-10-26T16:15Z [----] followers, 15.5K engagements


"According to Kalshi a "prop bet" on individual player performance is a "swap" under the CEA because it has potential economic consequences on the player's sponsorship deal. Daniel Jones throwing for 175+ yards is now a swap. So much for macroeconomic impact"  
[X Link](https://x.com/WALLACHLEGAL/status/1982541344712389063)  2025-10-26T20:14Z [----] followers, 24.2K engagements


"BREAKING: Canadian rapper Drake and online influencer Adin Ross have been sued along with sweepstakes casino website for promoting illegal online gambling in Missouri. The class action seeks to hold Drake and Ross liable for class members' gambling losses. http://Stake.us http://Stake.us"  
[X Link](https://x.com/WALLACHLEGAL/status/1982959084878909554)  2025-10-27T23:54Z [----] followers, 728.6K engagements


""Stake in particular pays online influencer-Defendants Adin Ross and Aubrey Drake Graham (Drake) each millions of dollars yearly to engage in promotional 'livestream' online casino gambling with http://Stake.com http://Stake.com"  
[X Link](https://x.com/WALLACHLEGAL/status/1982967529799856414)  2025-10-28T00:27Z [----] followers, 21.9K engagements


""But Drake and Ross do so under deeply fraudulent pretenses. To wit when Ross and Drake purport to gamble online with they often do not do so with their own money despite telling the public in Missouri and elsewhere the opposite." http://Stake.com http://Stake.com"  
[X Link](https://x.com/WALLACHLEGAL/status/1982968382317068357)  2025-10-28T00:31Z [----] followers, 17.6K engagements


""Stake boasts that Drake 'has been a long-time member of the Stake community' after which a 'partnership was formed' where 'a new gaming experience' will allow users to 'have a chance to win big along side Drake.' This type of giveaway will be on a magnitude unseen before"  
[X Link](https://x.com/WALLACHLEGAL/status/1982970076128055324)  2025-10-28T00:38Z [----] followers, 13.3K engagements


""Drakes involvement is further described on as a 'Journey from a Player to a Partner' and touts 'Drakes Live Stream Giveaways & Rewards' as well as his 'Stake History in the Making.'" http://Stake.com http://Stake.com"  
[X Link](https://x.com/WALLACHLEGAL/status/1982971508319457762)  2025-10-28T00:43Z [----] followers, 11.9K engagements


""On one of the most-followed accounts in the world this kind of visibility elevates Stake far beyond the typical world wide web platformit becomes a centerpiece of Drakes brand ecosystem.""  
[X Link](https://x.com/WALLACHLEGAL/status/1982972822789255476)  2025-10-28T00:48Z [----] followers, [----] engagements


""Drakes role as Stakes unofficial mascot is quietly corrosivehes glamorizing the platform to millions of impressionable fans many of whom treat his wild betting habits like gospel.""  
[X Link](https://x.com/WALLACHLEGAL/status/1982973284518953378)  2025-10-28T00:50Z [----] followers, [----] engagements


""What makes it even more unsettling is that Stake apparently fronts Drake and Ross 'house money' so any reported losses are part of a marketing tactic designed to draw attention.""  
[X Link](https://x.com/WALLACHLEGAL/status/1982973708659765636)  2025-10-28T00:52Z [----] followers, [----] engagements


""Stakes influencer marketing especially through Drake and Ross is directed among others at teenagers in Missouri and in other states.""  
[X Link](https://x.com/WALLACHLEGAL/status/1982973910099325095)  2025-10-28T00:53Z [----] followers, [----] engagements


""Stakes and Drakes and Rosss conduct here threatens the welfare of Missouri residents and especially its young people.""  
[X Link](https://x.com/WALLACHLEGAL/status/1982974746066333966)  2025-10-28T00:56Z [----] followers, [----] engagements


"If Kalshi had lost the race to the courthouse in New York and been sued first in state court its principals officers and directors could have been held personally liable for Kalshi's actions and been ordered to pay restitution and penalties under NY law.👇"  
[X Link](https://x.com/WALLACHLEGAL/status/1983167215496306963)  2025-10-28T13:41Z [----] followers, [----] engagements


"The Missouri class action extends liability to the companys celebrity promoters including Drake and Adin Ross in what may become a precedent-setting case for influencer accountability in online gambling. BREAKING: Canadian rapper Drake and online influencer Adin Ross have been sued along with sweepstakes casino website https://t.co/ZWPLa9WGvN for promoting illegal online gambling in Missouri. The class action seeks to hold Drake and Ross liable for class members' gambling losses. https://t.co/YILRTAWloM BREAKING: Canadian rapper Drake and online influencer Adin Ross have been sued along with"  
[X Link](https://x.com/WALLACHLEGAL/status/1983179778070065613)  2025-10-28T14:31Z [----] followers, [----] engagements


"BREAKING: Massachusetts federal court GRANTS the Commonwealth's motion to remand its lawsuit against Kalshi back to state court where the Commonwealth's previously-scheduled emergency motion for preliminary injunction (and a likely loss) awaits Kalshi. Order is not appealable"  
[X Link](https://x.com/WALLACHLEGAL/status/1983254197756707181)  2025-10-28T19:27Z [----] followers, 27.7K engagements


"One of the greatest myths perpetrated by Kalshi is that they are a true peer-to-peer platform as distinguished from sportsbooks. The reality: they use & incentivize market makers (and even an affiliate) to provide liquidity. That's house-banked which is now an issue in Nevada"  
[X Link](https://x.com/WALLACHLEGAL/status/1983575457531404327)  2025-10-29T16:43Z [----] followers, [----] engagements


"This is one of the most insightful analyses of the ongoing legal battles between Kalshi and state/tribal governments. If you want to get caught up on what's happening in the legal trenches this is the best place to start. Kalshi: Cracks in Legal Theory Beginning to Emerge After Early Court Victory Recent rulings in Massachusetts and Nevada challenge the companys claim that its sports betting contracts fall solely under federal CFTC jurisdiction. Our deep dive into the case: https://t.co/IEnSpFdepr Kalshi: Cracks in Legal Theory Beginning to Emerge After Early Court Victory Recent rulings in"  
[X Link](https://x.com/WALLACHLEGAL/status/1983649244470018350)  2025-10-29T21:36Z [----] followers, [----] engagements


"BREAKING: Drake has been sued for a 2nd time this week for his role in promoting the online sweepstakes casino website The class action lawsuit -- filed in New Mexico state court -- seeks to hold Drake personally liable for class members' gambling losses. http://Stake.us http://Stake.us"  
[X Link](https://x.com/WALLACHLEGAL/status/1983732358412149090)  2025-10-30T03:07Z [----] followers, 15.1K engagements


"Drake hit with lawsuit #2: This New Mexico case is the latest in a growing wave of lawsuits targeting and other sweepstakes casinos. Wallach estimates that there are over [--] active suits against the unregulated platforms. https://casinobeats.com/2025/10/30/drake-second-stakeus-lawsuit-new-mexico/ http://Stake.us https://casinobeats.com/2025/10/30/drake-second-stakeus-lawsuit-new-mexico/ http://Stake.us"  
[X Link](https://x.com/WALLACHLEGAL/status/1983907871458005149)  2025-10-30T14:44Z [----] followers, 122.9K engagements


"With Drake and Ross now named influencer liability is coming into sharper focus. Other celebrity deals already link Michael Phelps with Global Poker Paris Hilton with WOW Vegas and John Daly and Bruce Buffer with Modo Casino. These deals suggest more lawsuits may follow. Drake hit with lawsuit #2: This New Mexico case is the latest in a growing wave of lawsuits targeting https://t.co/ZWPLa9Xell and other sweepstakes casinos. Wallach estimates that there are over [--] active suits against the unregulated platforms. https://t.co/IM863397hh Drake hit with lawsuit #2: This New Mexico case is the"  
[X Link](https://x.com/WALLACHLEGAL/status/1983909599821390177)  2025-10-30T14:51Z [----] followers, [----] engagements


"@CFTC Good luck. "Kalshi has made a diligent search for an unconflicted gaming lawyer able to represent it in a Nevada enforcement proceeding but has not yet been able to engage such counsel. There is thus a risk Kalshi would have to proceed without an experienced gaming lawyer.""  
[X Link](https://x.com/WALLACHLEGAL/status/1985052257449103681)  2025-11-02T18:31Z [----] followers, 30.6K engagements


"Kalshi is focusing on the wrong area of legal specialization. It's not a "gaming lawyer" that's needed. Kalshi will need felony criminal defense counsel in Nevada. Potentially for its principals too. @CFTC Good luck. "Kalshi has made a diligent search for an unconflicted gaming lawyer able to represent it in a Nevada enforcement proceeding but has not yet been able to engage such counsel. There is thus a risk Kalshi would have to proceed without an experienced gaming lawyer." https://t.co/xN7ZoRtpjs @CFTC Good luck. "Kalshi has made a diligent search for an unconflicted gaming lawyer able to"  
[X Link](https://x.com/WALLACHLEGAL/status/1985064281281376257)  2025-11-02T19:19Z [----] followers, 10.3K engagements


"JUST IN: New York bill would severely curtail prediction markets by banning PMs on sporting events ban market makers require RG safeguards and raise minimum age to [--]. Would empower AG to impose $50K/violation and $1m/day civil penalties and obtain 2x disgorgement of profits"  
[X Link](https://x.com/WALLACHLEGAL/status/1986994585977909272)  2025-11-08T03:10Z [----] followers, 27.5K engagements


"NEW: Ohio files its response in opposition to Kalshi's motion for preliminary injunction and invoking the presumption against preemption asserts that Kalshi has failed to demonstrate Congress's "clear and manifest" purpose for the CEA to preempt Ohio's sports-gaming laws"  
[X Link](https://x.com/WALLACHLEGAL/status/1987020364178719099)  2025-11-08T04:52Z [----] followers, [----] engagements


"It was an honor to have Jason Barclay the CLO of @PrizePicks teach my sports betting law and regulation course today at @MiamiLawSchool. By the end of the class everyone (including me) understood the difference between a DCM and FCM"  
[X Link](https://x.com/WALLACHLEGAL/status/1989166808818155565)  2025-11-14T03:01Z [----] followers, [----] engagements

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