Partner Robert L. Boone has authored a guest column in Sportico examining the US Department of Justice’s increasing scrutiny of the college sports industry and the potential application of federal criminal statutes to emerging areas of risk. He discusses how prediction markets and name, image and likeness (NIL) agreements may expose athletes, advisors and companies to wire fraud liability as the industry continues to evolve. 

Excerpt: “The question then is not whether another DOJ college sports scandal will emerge, but which aspect of the industry will be impacted next. The two most likely areas? Prediction markets and name, image and likeness (NIL) agreements… A ‘prediction market doesn’t insulate you from fraud,’ and the misuse of confidential information or material nonpublic information to gain an advantage could create criminal liability.” 

Read the full article here (subscription required).