Tiffany M. Shepard

New development in the prediction markets / sports gambling space, as Sens. Schiff (D) and Curtis (R) introduce a bill to amend the Commodity Exchange Act to prohibit event contracts on sporting events from being traded on DCMs. The plot thickens . . .

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Another day and another big development in the prediction market/sports betting world. Yesterday, MLB announced that Polymarket would be its exclusive prediction market exhange partner, allowing the league to work alongside Polymarket to create what it calls a "comprehensive integrity framework." Separately, MLB signed a memorandum of understanding with the CFTC to share information with an eye toward jointly protecting the integrity of the game. Both strike me as smart moves. Prediction markets and sports betting generally aren't going anywhere. Better for the leagues to have the information and relationships to understand and moderate the phenomenon than ignore it. Here's the MLB's press release. https://lnkd.in/gFpNVa7U

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ESPN didn’t just buy a football show. They made a strategic move to own one of the most valuable pieces of IP in sports media. ESPN is set to acquire RedZone, NFL Network, and other media assets worth $1 billion. From an IP standpoint, here’s what should be transferred: • Trademark Ownership: ESPN will gain full rights to the RedZone name and logo, allowing them to control, enforce, and monetize the brand across platforms with exclusive legal standing • Copyright Rights: ESPN will control the RedZone broadcast and production format including fast-paced game coverage, graphics packages, commentary routines, and studio workflow. This deal is a masterclass in using intellectual property as a growth engine. By acquiring both the brand and the creative execution, ESPN now has full control over how RedZone is used, expanded, and monetized. It’s a long-term play that turns a football broadcast into a scalable, revenue-generating asset for years to come. #ESPN #NFLRedZone #IntellectualProperty #IPStrategy #TrademarkLaw #Copyright #MediaRights #Streaming #BrandOwnership https://lnkd.in/eeXYTrJ2

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Interesting article highlighting the evolving dynamics between athlete NIL licensing and university partnerships: Ohio State maintains a long-term, exclusive apparel partnership with Nike, yet one of its star athletes, Jeremiah Smith, has signed a personal #NIL deal with Adidas. As the article states, this underscores the growing distinction between institutional and individual licensing rights. While athletes can now engage in their own endorsement deals, there are still limitations—Smith, for example, is required to wear Nike gear during all Ohio State-related activities, but will represent Adidas in non-OSU contexts. Source: https://lnkd.in/gm8f-VdZ

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One of several things happening almost simultaneously to tighten the rules around access to games and age verification. A lot to keep track of at the moment.

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Our latest Chalk Talk breaks down sports prediction markets and regulation - do they have to follow the same rules as online sports books, or do they get more freedom to operate? 🎲🏈

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Audacy will launch 97.1 Detroit Sports Radio Network, a new, centralized hub for sports fans across Michigan on December 1. WXYT (97.1 The Ticket)/Detroit will serve as the flagship station of the first-of-its-kind statewide platform produced and distributed by Audacy.

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The Chicago Cubs are contenders again in 2025 and the team at Marquee Sports Network is rising to the occasion to meet the excitement on the North Side with top-of-the-line live broadcasts. Nick Steger, Executive Producer for Marquee Sports Network joins us to break down the technical enhancements that the network brings to capture the magic of a ballgame at Wrigley Field and explains why investing in telling the story of the Cubs Minor League system since its launch has paid off in a big way.

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An important message from the Illinois Gaming Board: sports event contracts offered by CFTC-regulated entities intentionally weaken the state’s regulatory framework. Protecting consumers means preserving state authority over sports wagering.

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A New Era for Nevada’s Gaming Oversight As in-house counsel in the gaming industry, I make it a point to follow nearly every Nevada Gaming Control Board meeting and the October 8 session was no different. What stood out to me this time was not just the Board’s questions or decisions, but the clarity of its message: Nevada’s regulatory framework remains the gold standard not just nationally, but globally. This moment reflects more than just regulatory diligence. It signals a continued evolution one where Nevada confidently embraces its role as the global benchmark for gaming governance in an increasingly interconnected industry. It’s a privilege to witness, in real time, how our state continues to balance innovation with integrity.

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Yesterday CME Group announced that it will partner with FanDuel to develop event contracts, forming a new joint venture under which they will operate a non-clearing FCM that “facilitate access” to FanDuel’s customers.   This news has significant implications:   ● CME’s announcement confirms that they are making a major bet on event contracts, which greatly reduces the (already remote) possibility that the CFTC rolls back or curtails prediction markets going forward.  While the no-action relief obtained by CME less than a month ago signaled its interest in event contracts, yesterday’s announcement represents a commitment and investment in that space.   ● The partnership with FanDuel strongly signals that CME intends to offer sports event contracts once there is more regulatory certainty. I’m told that they don’t intend to offer sports contracts initially, which is consistent with their announcement, which focuses on products like the S&P 500, crypto, and GDP.  But if Kalshi wins its battles with state regulators and tribes—it is currently up 2 to 1 in state litigation—CME is ready to offer sports event contracts and overwhelm Kalshi.   ● This likely represents a “hedge” of sorts for FanDuel. They would still be better off if sports event contracts are prohibited because traditional gaming is more lucrative—and sports event contracts cannibalize sports gaming—but this partnership would soften the blow.   ● This move can also be seen as FanDuel’s response to reports that DraftKings is in talks to acquire Railbird, a prediction market that was granted status as a Designated Contract Market (DCM) by the CFTC in June.   ● Until the litigation dust settles—and prediction markets figure out how to replicate gaming’s key moneymaking engines—these moves will supplement sports gaming but will not supplant it.   ● It remains to be seen whether CME or FanDuel will take positions supportive of Kalshi, Crypto.com, and others litigating over sports event contracts. I’m told that more traditional sportsbooks remain hostile to sports event contracts.   ● CME and FanDuel’s move represents a blow to Kalshi, which has borne most of the burden and risk as the pioneer in this space but will see CME/FanDuel (and presumably others) to reap much of the reward.   I remain convinced that most of the opportunity in this space will be 𝗼𝘂𝘁𝘀𝗶𝗱𝗲 of sports, and CME’s move leaves plenty of room for others to reap those rewards. Reach out if you would like to discuss this emerging opportunity. https://lnkd.in/gwRQ2f45

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Wisconsin's online sports betting bill, Assembly Bill 601, pulled before discussion. Reconsidered in early 2026 with a 'hub and spoke' model for online sports betting. #Wisconsin #SportsBetting #AssemblyBill601 https://lnkd.in/dbauryEp

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Ilitch Sports + Entertainment is launching Detroit SportsNet, a new network that will carry local broadcasts of the Detroit Tigers and Detroit Red Wings while offering a direct-to-consumer streaming service for $19.99 per month or $189.99 annually. MLB Media will handle production and distribution infrastructure, reflecting a broader shift as teams move away from the collapsing RSN model toward franchise-controlled distribution. --- Follow The Streaming Wars for breaking news, expert insights, and curated analysis from industry pros. Hit the 🔔 Subscribe bell to get notified when we post. ----- #streamingmedia #tv #entertainment #streaming #media #news #ott #video #streamingwars

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Foxtel Group has recruited former National Basketball League exec Ted Helliar to serve as director of engagement, community and fandom of Kayo Sports and FOX Sports. The dedicated role is to take fan engagement to the next level across Kayo Sports and Fox Sports, by building a deeper, more meaningful connection with the communities that power the success of Foxtel and allow it to invest in the growth of Australian sport. And as a result all Kayo and Fox Sports social and creator teams will now report to Helliar. https://lnkd.in/gNhCpxtK

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Michigan Attorney General Dana Nessel has filed a lawsuit against Kalshi, alleging the company’s sports event contracts violate the Michigan Lawful Sports Betting Act. The state argues the contracts function as unauthorized sports wagers and is seeking court orders to halt the platform’s operations targeting Michigan residents. Full article in the comments.