Josh Sterling, Litigation & Arbitration partner at Milbank LLP and former Director of the CFTC’s Market Participants Division, was featured on an episode of SBC Media’s iGaming Daily podcast titled, “CFTC, Courts, and the Legal Distinctions of Prediction Markets.”
The episode explored the evolving legal landscape of prediction markets in the US, focusing on ongoing battles over federal regulation, the potential implications of US Supreme Court involvement, and what these developments could mean for the future of sports betting and financial exchanges. Discussion topics included the legal distinctions between US betting and trading; the role of the Commodity Exchange Act and the CFTC; the interaction between state and federal regulation of prediction markets; and how recent and anticipated legislation, regulatory actions and court decisions may affect the industry.
The conversation also addressed the differences between sports betting and prediction markets, the concept of swaps and their regulation, and the possibility of circuit splits emerging as courts across the country consider novel questions involving event contracts and related products.
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.
SBC Media’s iGaming Daily is a daily podcast covering the biggest and most important news stories from the betting and gaming industries around the world.
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