Emerging Frontiers in Sports Wagering: Prop Betting, Exchanges and Novel Products in the Post-PASPA Era

Since the repeal of the Professional and Amateur Sports Protection Act of 1992 (“PASPA”) in 2018, the sports wagering industry has evolved far beyond traditional point-spread betting. This program addresses cutting-edge legal issues surrounding prop betting, betting exchanges, prediction markets, and cryptocurrency wagering that most foundational courses overlook. Attorneys will gain practical insights from a practitioner with direct experience advising market makers and operators in this rapidly evolving space.

This program will discuss the post-PASPA regulatory landscape, distinguish among different wagering product models (traditional sportsbooks vs. exchanges vs. prediction markets), identify compliance requirements for novel products, evaluate cryptocurrency integration issues, analyze drafting considerations for operator and market maker agreements, and navigate integrity monitoring obligations.

Transactional attorneys advising sports wagering operators or investors, in-house counsel at gaming companies, compliance professionals managing regulatory obligations, litigators handling wagering-related disputes, and corporate attorneys structuring market access or revenue-sharing agreements. Legal professionals at all practice levels will gain valuable knowledge and practical skills from this course.

Learning Objectives:

1. Delineate the post-PASPA state-by-state regulatory framework, including key jurisdictional differences in licensing, operator requirements, and tribal gaming considerations. 
2. Analyze the legal distinctions between traditional sportsbooks,  betting exchanges, and prediction markets, including regulatory classification issues and compliance implications. 
3. Identify regulatory compliance requirements and approval processes for prop betting, player props, same-game parlays, and micro-betting products. 
4. Evaluate legal and compliance challenges associated with cryptocurrency wagering platforms, including AML/BSA obligations and blockchain transparency considerations.
5. Navigate key drafting and commercial considerations in operator agreements, market maker arrangements, data provider contracts, and revenue-sharing structures. 
6. Determine integrity monitoring requirements, anti-manipulation obligations, and dispute-resolution mechanisms for novel wagering products.