Bloomberg Law: Prediction Markets Face New Threat in Consumer Protection Suits

Round of applause to Shweta Watwe for her article about harms from the prediction market industry and how our firm’s favorite legal tools can play a role in addressing them. Monica boiled it down well: “When we talk about consumer protection, what we’re really talking about is what is the effect on everyday people?” 

We also think our friend Adam Teitelbaum is right on: consumer protection laws are important tools for addressing emerging industries because they’re flexible, and “you can use them proactively rather than waiting for industry or conduct-specific regulation or legislation to catch up.” As Watwe points out, there's mounting pressure for these emergent marketplace giants to play by the fundamental rules of the road.

https://news.bloomberglaw.com/litigation/prediction-markets-face-new-threat-in-consumer-protection-suits

This content is for informational purposes only and is not legal advice.