Josh Sterling, Litigation & Arbitration partner at Milbank LLP and former Director of the CFTC’s Market Participants Division, appeared on the Law of Code podcast to discuss prediction markets. Mr. Sterling is a leading practitioner in commodities and derivatives law who represents financial markets and intermediaries in precedent-setting litigation, high-stakes investigations, and strategic regulatory and transactional matters relating to the offering of novel financial products. He currently leads Milbank’s nationwide litigation efforts concerning the legality of event contracts and prediction markets.
The podcast episode explores the history of prediction markets; why they grew (and declined) in popularity; how they work today; ongoing lawsuits and sportsbook battles; regulation by the Commodity Futures Trading Commission (CFTC); and the benefits, risks, and policy questions surrounding prediction markets. Other featured experts include Robert J. DeNault of Kalshi, Paul Grewal of Coinbase, and Stefan Schropp of Paradigm.
The Law of Code podcast features in-depth conversations with leading practitioners, regulators, and scholars on the legal and regulatory issues shaping technology, financial markets, and innovation.
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