Rob Lockwood

AGA | “as the legislative history directly confirms, Congress did not want sports betting to be conducted on derivatives markets.” - Kalshi

[Jared Small 💁🏼‍♀️ @jaredsmall]

PLEASE RT 🚨 SERIOUS EMERGENCY 🚨

@Conor_Maguire just had an actual stroke and needs your help.

https://t.co/52dSaMMxCC

[Anton Vuljaj @anton]

Conor is an absolute legend within the GOP, one of the most authentic dudes I’ve met. Truly everyone’s friend.

Help if you can

[Rob Lockwood @RobLockwood]

https://t.co/N0Ol8A3PBD

[Victor Rocha @VictorRocha1]

Let's take a moment to marvel at the ass-whoopin' Judge McMahon gave Novig and the CFTC yesterday. Just brutal. Novig won't survive when prediction markets lose sport betting. I hope Sydney Sweeney got paid upfront.

[Rob Lockwood @RobLockwood]

Here’s bullshit artist @mansourtarek_ today saying 50% of Kalshi volume is institutional aka “Elites”

Wall Street Elite 💚 Kalshi

Tarek’s messaging only makes sense if you don’t have eyes or ears.

[FairPredicts @FairPredicts]

🚨Kalshi CEO Tarek Mansour says the "elites" will never love Kalshi because "there's no gatekeepers" and it's "millions of American people putting money where their mouth is."

Kalshi's backers include Morgan Stanley, Sequoia Capital, Coatue Management, Andreessen Horowitz, and more. Its first major market maker was Susquehanna International Group, a Wall Street trading giant.

The elites aren't attacking Kalshi. They own it.

[Rob Lockwood @RobLockwood]

big L for NOVIG, whose tagline of "Just Sports" markets that it's all sports gambling and no actual financial hedging.

Whereas a whopping 2% of KALSHI comes from categories traditionally associated with hedging.

https://t.co/pBzOc0vyW7

[Daniel Wallach @WALLACHLEGAL]

The 2nd Circuit is a judicial hellhole for NY-based DCMs. States 10-0, CA2 denial signals affirmance, no CFTC deference, hostility to litigation-driven rulemaking, lawsuit-ready Letitia, sports shutdown, state court enforcement, restitution and 50-state disgorgement loom.

[Rob Lockwood @RobLockwood]

Mike Selig to Kalshi be like

[Victor Rocha @VictorRocha1]

Selig blinks. https://t.co/XWsLHV49GH

[Daniel Wallach @WALLACHLEGAL]

“Traditional bets ARE ‘sports events contracts.’”

- SDNY Judge Colleen McMahon

[Daniel Wallach @WALLACHLEGAL]

The CFTC just got called out for rewriting its rules to win in court. And Judge McMahon nailed the legal problem: “Litigation positions are not entitled to any deference at all.” Straight out of Kisor.

See also @WALLACHLEGAL: https://t.co/HTHfnOCrOR

[Daniel Wallach @WALLACHLEGAL]

Judge McMahon calls the CFTC’s rulemaking “seemingly contradictory”:

“The CFTC did not identify any differences between sports-related event contracts and sports-wagering contracts, such that one would qualify as a ‘swap’ while the other would not.”

#ArbitraryAndCapricious

[Rob Lockwood @RobLockwood]

Just calling further bullsh*t on @mansourtarek_ fake populist message.

Looks like Kalshi's Wall Street Market Makers aka "Elites" loved election gambling more than individual Kalshi users

https://t.co/W7tHUx94NT

[FairPredicts @FairPredicts]

🚨Kalshi CEO Tarek Mansour says the "elites" will never love Kalshi because "there's no gatekeepers" and it's "millions of American people putting money where their mouth is."

Kalshi's backers include Morgan Stanley, Sequoia Capital, Coatue Management, Andreessen Horowitz, and more. Its first major market maker was Susquehanna International Group, a Wall Street trading giant.

The elites aren't attacking Kalshi. They own it.

[Daniel Wallach @WALLACHLEGAL]

Quick, someone send Gibson Dunn a copy of the Wire Act. Apparently, it’s missing from the firm’s law library. Polymarket’s claim that Missouri’s geofencing requirement unlawfully blocks interstate commerce is specious when federal law itself prohibits interstate sports bets.

[Rob Lockwood @RobLockwood]

Very strong North Shore representation here

[𝘾𝙝𝙧𝙞𝙨 𝙂𝙧𝙤𝙨𝙨𝙚 @Chris_Grosse]

Must-See Massachusetts Landmarks

[𝘾𝙝𝙧𝙞𝙨 𝙂𝙧𝙤𝙨𝙨𝙚 @Chris_Grosse]

Must-See Massachusetts Landmarks

[Rob Lockwood @RobLockwood]

Kalshi court losses pile up as judges refuse to block state gambling laws

https://t.co/jACdJkaA9e

[American Gaming Association @AmericanGaming]

Bill Miller told @contessabrewer how prediction markets are facing a tsunami of legal challenges, and that bipartisan scrutiny of these platforms is expected to intensify following the election.

Read more from @CNBC: https://t.co/zVxbyZK1si

[Daniel Wallach @WALLACHLEGAL]

“This is illegal sports betting being condoned at the federal level in violation of tribal law, tribal sovereignty, state law, state sovereignty,” Siva said. “I think the courts are starting to understand that, and they’re calling a spade a spade.” https://t.co/r0uHqKJiuJ

[Daniel Wallach @WALLACHLEGAL]

Nevada’s requested extension may be more than a scheduling maneuver. It could position the two prediction-market cases for a Jan. 11 SCOTUS cert grant, with enough runway for an April oral argument and a landmark decision by June 2027. The calendar math is worth a closer look. 🧵

[Carlos A. Lopez @LosTalksPats]

Rob Gronkowski is one of the few people on earth that can make Bill Belichick crack a smile :)

“I’ve talked to Rob and congratulated him on his selection into the Patriots Hall of Fame… [He] was the best tight end in football during his time, and one of the best of all time. Proud of Rob and what he’s accomplished.”

(🎥 @MSottileTV IG)