On this episode of the Business of Betting Podcast, Jason is joined by Daniel Wallach, sports law expert and founder of Wallach Legal.   Hear them discuss:04:35 - Daniel's leap from traditional law to sports betting and the challenges involved06:08 - How Daniel became one of the first legal experts writing about sports betting06:45 - The evolution of legal betting in New Jersey and Daniel’s early contributions06:54 - Why appellate courts and the Supreme Court often get involved in major political cases10:24 - Daniel’s opinion on the legality and process of sports prediction markets12:36 - Why Daniel believes sports betting via the CFTC lacks congressional authorization13:00 - The impact of Kalshi's operations on state-licensed betting ecosystems17:00 - Daniel’s view on how Kalshi is skirting existing federal laws like the Wire Act21:00 - How Kalshi's arguments for federal preemption may be flawed34:44 - The challenges and delays in becoming a Designated Contract Market (DCM)36:00 - How Kalshi may have accidentally discovered a legal loophole in sports prediction markets39:00 - Can the CFTC’s self-certification model really regulate sports integrity?41:40 - Are prediction markets more like financial instruments or gambling products?43:00 - Why Daniel thinks sports betting needs more integrity safeguards than financial markets46:49 - Daniel’s support for innovation but insistence on regulation48:00 - Jason’s critique of state-level betting regulation and support for disruptive innovation50:00 - The legal definition of gambling and why Daniel believes it applies to Kalshi     ⚡️ Follow BoB on Twitter/X ⚡️ Watch BoB on Youtube ⚡️ Follow Jason on Twitter/X   ⚡️ Apply to be a guest here   --- This podcast is presented by Optimove, the #1 CRM Marketing solution for the iGaming industry. Since 2012, Optimove has served iGaming Operators from startups to industry leaders. Today, 4 out of the Top 5 US Operators Personalize Player Experiences with Optimove. iGaming operators know their growth journey begins and continues with Optimove, the #1 CRM Marketing solution for the iGaming industry.