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Amid a string of losses in federal appellate courts, it appears increasingly prediction markets are angling to take their cases to the U.S. Supreme Court, banking that the high court will allow them to continue offering sports event contracts free of state gambling regulations.

Some legal experts and members of the investment community believe it’s possible the Supreme Court could hear a prediction market case at some point over the next six or seven months.

The post Macquarie: Prediction Market ‘Taker’ Volume to Reach $190 Billion in 2026 appeared first on Casino.org.

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The conflict stems back to January 2025, when the outgoing Biden administration initially determined that the Vallejo parcel was eligible for gaming.

Interior temporarily rescinded that determination just two months later after newly appointed Secretary Doug Burgum raised concerns over whether the tribe’s historical connection to the land had been thoroughly evaluated.

Scotts Valley filed suit in response. In October 2025, Judge McFadden ruled that Interior had violated the tribe’s due process rights by rescinding the approval without giving prior notice or an opportunity to respond.

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Rashid received a 17‑month sentence following a hearing in U.S. District Court, where he admitted to a series of breaches that prosecutors said showed he had not reformed.

In 2021, Judge Gloria Navarro sentenced Rashid to 33 months at the Federal Correctional Institution in Sheridan, Ore., followed by three years of supervised release after he pleaded guilty to one count of using an interstate facility in aid of unlawful activity—specifically, a prostitution service.

According to the FBI, which raided his Las Vegas house on human trafficking warrants in 2014, Rashid “persuaded, induced, enticed and caused hundreds of victims to prostitute themselves for his benefit” beginning in 2002.