Steve Ruddock
@SteveRuddock
EIC @GamingLawRev | Gambling industry analyst-consultant | Nominated for an award once... didn't win
The Straight to the Point substack newsletter will be 1.5 years old next week, and the support I've received has been overwhelming. 18 months later, the newsletter is closing in on 1,000,000 total views and broke 5k views per day twice this week. I took a big risk traveling…
I should have gone to law school @jesswelman
Kalshi’s lead lawyer bills at $3,250 an hour at rack rates.
This is promising
NEWS from Las Vegas: Ways & Means Chair @RepJasonSmith told me in an interview he wants to REVERSE the gambling tax hike from the One Big Beautiful Bill SMITH said it was a "bad decision" & could "absolutely" be undone by year-end. He floated it as part of a bipartisan package
"The predictions marketplace is buying a little-known derivatives exchange called QCX, that will allow Polymarket to legally re-enter the US, according to people with knowledge of the matter. The move will formally open the betting site to US users after its surging popularity in…
Polymarket news... (or not)
Which one of those three (Agriculture, Forestry, Nutrition) does trading contracts on the future of the CEO busted at the Coldplay concert fall under?
Brian Quintenz is getting a Senate Ag Committee vote Monday afternoon to lead the CFTC agriculture.senate.gov/hearings/busin…
This was very broad and not specific to slots, which is why it went under the radar. I heard about the day OBBA was passed but had trouble locating it in the bill until AGA pointed out the section
Been getting some inquiries about our tax threshold story on @sbc_americas. As we understand it, the bill changes the minimum threshold for all of Section 6041 (which includes loads of stuff besides gambling) from $600 to $2K. AGA and Titus confirmed $2K for slots is correct.
This is a really strong ad
History was made by the underdogs.
Important to note that (by my count) 12 (and possibly as many as 18) states already prohibit or restrict gambling loss deductions
Now there is a state-level effort. Interesting bit (that I touched on in Monday's newsletter): “I don’t think we should be subsidizing people who are gambling and incentivize them to gamble more, to cover their losses for them. That was the intent of this bill,” NY Sen.…
Now there is a state-level effort. Interesting bit (that I touched on in Monday's newsletter): “I don’t think we should be subsidizing people who are gambling and incentivize them to gamble more, to cover their losses for them. That was the intent of this bill,” NY Sen.…
New York lawmakers are considering a bill to prohibit all itemized deductions for gambling losses in state tax returns. NY's legislative session ended in June, but the bill remains live and will automatically be introduced again in January. sportsbettingdime.com/news/betting/n…
If nothing else, @VictorRocha1 knows how to make a quote
New June 2025 issue of Gaming Law Review includes my commentary entitled "A First-Hand Account of the CFTC's Prediction Markets Roundtable" -- liebertpub.com/toc/glr2/29/5
Insta-donated to this and sharing for visibility.
Thread: The @BostonVsTheBook has been about 2 friends, talking about sports and life. Well - life has taken a turn and @SportsbkConsig needs our support. The #BvBBrigade has started a fundraiser for our dear Consig. Please donate, if you can Link: gofundme.com/f/help-dave-th…
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Plus hundreds of tribes and 32 states. Has there ever been this much opposition to something in the space?
JUST IN: The American Gaming Association will be filing an amicus brief in the 3rd Circuit in support of New Jersey's appeal of the preliminary injunction granted to Kalshi. The addition of @AmericanGaming ensures that both commercial and tribal gaming interests will be heard.
I say this all the time, gambling is the one issue that has bipartisan support and opposition
This may be the only time you see a red-state/blue-state coalition of state AGs on the same amicus brief...
NEWS: There is now filed in the New Jersey-Kalshi case in the Third Circuit, on appeal from NJ District Court, a brief from a consortium of 32 states, signed by attorneys general for Nevada and Ohio.
NEW: 60 federally recognized Indian Tribes and 9 tribal organizations have filed an amici curiae brief in the 3rd Circuit in support of New Jersey's appeal of the preliminary injunction granted to Kalshi. Exceptional brief which delivers the goods on IGRA and Rule 40.11(a).
As I wrote not too long ago
For everyone that would like to see sports betting regulated at the federal level, here is your preview of the challenges faced The industry is fast becoming everyone’s fav piggy bank to raid
This is a newsletter sponsor, but it's surprising (or perhaps it's not) that the best RG ideas and features are coming from the payment sector.
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