Writing
A forthcoming book, essays, papers, and advocacy on the lines between investing, speculation, gambling, and games, and the law, finance, and history that shape them.
Book
Forthcoming with MindStir Media.
Predictable
What Happens When the Rope Comes Down. A story about an early legal question, why it matters now, and what comes next.
Selected essays
Written for Full Court Press, my Substack. All essays
Daily Fantasy Sports Was the Trojan Horse
Fantasy sports was never a game, and treating it as one let daily fantasy open the door to nationwide sports betting.
CME Walked Away. Was It Really About Sports?
Its abrupt retreat may have been a narrow business decision, or one move in a much larger strategic conflict.
Unfinished Business: What Murphy Didn’t Decide About Sports Gambling
Murphy struck down one federal law, PASPA. The Wire Act and the Commodity Exchange Act remain.
Federal Preemption Has Been Barking For Years: Is Kalshi’s Latest Setback in Nevada Justified?
Our call for economic purpose, not jurisdiction, as prediction markets march toward a Supreme Court showdown.
Papers
My academic research on investing, speculation, gambling, and games.
Unfinished Business: Sports Gambling After Murphy
Fooled: Fantasy Sports Is Not a Game
Refining Howey: Investor Protection in the 21st Century
Commodities, Contracts, and Casinos: Reading the Commodity Exchange Act as a Whole
Litigation Sequencing
Selected advocacy
A petition, amicus briefs filed through counsel, and comment letters I drafted. All advocacy
Rabalais v. Leon, U.S. Supreme Court
Question Presented: Is sports performance an excluded commodity under the Commodity Exchange Act?
Murphy v. NCAA, U.S. Supreme Court
Filed in support of neither party. Argued that sports gambling contracts could be characterized as commodity futures contracts, a question the Court did not address.
CFTC, Prediction Markets
Responded to the CFTC’s advance notice of proposed rulemaking on prediction markets, arguing that the Commission has exclusive jurisdiction over event contracts.
White v. Cuomo, New York Court of Appeals
Argued for an economic-purpose test that separates markets serving hedging and price discovery from vehicles for speculation. The majority upheld daily fantasy as a skill contest without adopting it.