Several high-profile insider trading scandals have already emerged from the world’s novel obsession with prediction markets. Prediction markets, which allow users to buy and sell contracts that pay out based on the outcome of future events, are not an entirely new phenomenon. The Iowa Electronic Markets, for example, has allowed users to bet on the outcome of elections since the 1980s, and numerous corporations and government agencies have experimented with internal prediction markets for years. Some states, like Nevada, New Jersey, and Maryland, have pushed back on prediction markets offering de facto gambling services. Instead, she thinks the regulatory future of sports prediction contracts will be shaped mostly by the lawsuits brought by states.