What Does “Financial, Economic or Commercial Consequence” Even Mean?

Part II: Why the naturally occurring vs. artificial distinction is the only workable limiting principle for prediction markets

Jan 8 • Lexicon Labs

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December 2025

What Does “Financial, Commercial or Economic Consequence” Even Mean?

Part I: Was it meant to be a substitute for the economic purpose test?

Dec 12, 2025 • Lexicon Labs

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Kalshi’s Election Contracts Omission - A Quicksand Threat for States

Hedging for downside risk vs. strategic silence may define the jurisdictional fight

Dec 8, 2025 • Lexicon Labs

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The Smoking Gun in Sports Event Contracts Litigation

How a shaky “event vs. outcome” split threatens state victories and strengthens Kalshi’s appeal chances

Dec 5, 2025 • Lexicon Labs

November 2025

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 their way to a SCOTUS showdown

Nov 26, 2025 • Lexicon Labs

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The Future of Sports Gambling in America: By the Numbers

Assigning SCOTUS probabilities across certiorari, questions presented, and the eventual outcome

Nov 20, 2025 • Lexicon Labs

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Kalshi’s Gambit: The Bet That Could Break Sports Gambling

Prediction markets are testing the limits—and the law. Will all the dominoes fall?

Nov 13, 2025 • Lexicon Labs

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Backdooring Sports Gambling is Precisely What Congress Wanted to Prevent

Our arguments have been in front of the Supreme Court all along

Nov 5, 2025 • Lexicon Labs

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October 2025

Congress Didn’t Blink

Jurisdiction vs. Regulation: A critical distinction that clarifies the CFTC’s role in sports gambling

Oct 30, 2025 • Lexicon Labs

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Sports Markets Are Heating Up

Part X (Finale): The closing bell rings, but the match isn’t over

Oct 24, 2025 • Lexicon Labs

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Sports Markets Are Heating Up

Part IX: Kalshi goes global, courts go local: The preemption puzzle deepens

Oct 16, 2025 • Lexicon Labs

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Sports Markets Are Heating Up

Part VIII: Preemption, swaps, sports futures & the CFTC’s tightrope

Oct 9, 2025 • Lexicon Labs

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