THE BEGINNING
  • Jan 2001

    An idea forms

    As a result of being exposed to the incredible demand for sports gambling and personal experience with stock trading, the idea of a “sports stock market” was conceived. The very first sketches were drawn on copy paper with colored pencils.

  • Jan 2002

    Work begins

    AllSportsMarket (ASM) design and programming begins.  

  • Jan 2003

    Beta

    ASM Beta begins.

  • Jan 2004

    Live operation

    ASM Goes live for real money from Costa Rica.

  • Jan 2005

    Rapid growth

    ASM grows rapidly and receives media coverage. 

  • Jan 2007

    Broader implications

    The idea of “The New Sports Economy” starts to take shape with an understanding of the broader implications of a sports stock market. The search for ASM legal certainty begins with trips to Washington, D.C. Bernie Nicholls, a 17-year NHL veteran, signs on as an ambassador, a role he continues to play today. 

  • Jan 2007

    Growth and CFTC Advisors

    ASM grows to over 10,000 accounts. The search for legal certainty becomes top priority. Sharon Brown-Hruska, former Chair of the CFTC and Paul Architzel, legal architect of the Commodities Futures Modernization Act of 2000, join the team as advisors. The IP is vested in a newly formed U.S. company, Crystal World Holdings (CWH). 

  • Oct 2007

    SportsRiskIndex (SRI)

    After an extensive analysis of the ASM model, an evaluation of the Unlawful Internet Gambling Enforcement Act (UIGEA) that passed in 2006 and the inability to find legal certainty, it is suggested (and we agree) to develop a new product that will more easily fit regulatory standards: The SportsRiskIndex (SRI)

  • Jan 2008

    Worldwide patents filed

    The SRI, which is an index futures product, is developed and filed for patent worldwide. An agreement with a licensed exchange, The United States Futures Exchange (USFE), is executed for the trading of the SRI.

  • Oct 2008

    CFTC presentation

    CWH and USFE jointly present the product to the Division of Market Oversight at CFTC.  

  • Dec 2008

    USFE sponsor goes bankrupt

    While preparing the final submission document for regulatory approval, the economy implodes and bankrupts our exchange partner, the USFE. Since we don’t have the designation to bring the product to the market ourselves, the loss impacted our risk profile and financing was lost.  

  • Dec 2008

    Provisional patent

    Provisional patent filed for SRI. 

  • Jan 2009

    Market operations cease

    The ASM platform is wound down with the understanding that all valid accounts would be invested in the final outcome, a promise that was and is still being honored.

  • Feb 2009

    Controversy

    Hamish Webb of Christchurch , New Zealand, a fraudulent trader on the old ASM platform hijacks a company domain and starts spreading lies and misinformation. His propaganda results in another trader filing a complaint with the U.S. Securities and Exchange Commission (SEC).

  • Jul 2009

    SEC review

    SEC meets with Chris Rabalais, founder of ASM, and CEO of CWH, and reviews documents provided. Satisfied, SEC decides not to take any action.

  • Dec 2009

    Patent filing

    Non-provisional patent filed for SRI.

  • Jan 2010

    Leon case

    Seth Leon, another disgruntled trader from the ASM platform  files and obtains a DEFAULT judgment of over $379,000 against Chris Rabalais, in spite of no court finding of fraud. This DEFAULT judgment was obtained by knowingly mailing the complaint to the wrong address while Rabalais was relocating to Houston to bring the SRI market online.

  • Jan 2011

    Personal bankruptcy

    As a result of the recession and untruthful and extorting propaganda disseminated by a few, Chris Rabalais files personal bankruptcy and lists the default judgment as a dischargeable debt. 

  • Jul 2011

    NSEI is formed

    The New Sports Economy Institute, or NSEI (non-profit) is formed in 2011 to facilitate the educational and social mission and broader objectives.

  • Jan 2012

    Rooker-Feldman doctrine

    The Leon case moves through Bankruptcy Court, District Court and Federal Court. The court guidance remains the same: “Under the Rooker-Feldman doctrine, a federal court lacks jurisdiction to entertain collateral attacks on state court judgments… The U.S. Supreme Court is the only federal court permitted to review…”

  • Feb 2013

    U.S. Supreme Court

    Chris Rabalais petitions the U.S. Supreme Court, pro se, and asks the question “Is sports performance an excluded commodity under the Commodity Exchange Act?” The Supreme Court later declines to hear the case.

  • Jul 2013

    Resurrection

    The five-year period of maintenance of the SRI patents, trademarks and other intellectual property in order to preserve the value created before “The Great Recession” comes to an end. The decision is made to go back, resurrect the new and improved ASM market in some form.

  • Feb 2014

    Patent filing

    Provisional patent for ASM is filed.

  • Aug 2014

    NSEI receives 501(c)(3) status

    The New Sports Economy Institute receives 501(c)(3) status (retroactive to 2011) and ASM Free! is designed, built and starts up as an operation of the non-profit. ASM Free! is a free app (no real money trading) that improved the original market design from 2004. The design is filed for copyright and patent in 148 countries.

  • Nov 2014

    NBA pushes for sports betting

    NBA publicly starts pushing for legalization of sports betting. The idea starts getting some traction even as the State of New Jersey keeps fighting a losing battle in courts against the major sports leagues and the NCAA to offer sports betting in the state.

  • Jan 2015

    ASM Free! grows

    ASM Free! is well received and gains about 2,500 customers. The path to a fully legal real-money market is established.

  • Oct 2015

    California state amendment

    The Sports Vote, an initiative to gain public support for socially beneficial sports markets, gets underway with actor Zack Ward, of A Christmas Story fame, signing on as an ambassador and filing the “Sports Integrity Protection Amendment (SIPA)” in California to make responsible sports trading a basic citizen right.

  • Oct 2015

    DFS scandal

    Daily Fantasy Sports explodes in scandal opening a once-in-a-lifetime opportunity to bring ASM and The New Sports Economy to the world.

  • Feb 2016

    New Jersey case

    The Third Circuit hears the New Jersey sports betting case en banc.

  • Mar 2016

    Patent granted

    CWH is granted the SRI patent in China. 

  • Mar 2016

    No-action relief

    NSEI files a no-action relief request with the SEC with a copy to the CFTC. 

  • Mar 2016

    Real money market goes live

    Zack Ward Rings the Bell! ASM Real Money goes live with Hollywood launch party.  

  • Apr 2016

    NSEI’s amicus brief

    NSEI submits amicus brief to the New York Supreme Court in support of the New York Attorney General and against daily fantasy sports.

  • Apr 2016

    Letter to members of congress

    NSEI is concerned about the irresponsible narrative being disseminated by daily fantasy sports & sports gambling proponents. With the goal of starting an HONEST discussion on the matter, NSEI sends a letter to members of Congress, the California Assembly, all state AG’s, the NFL, NBA, MLB, NHL, NCAA, major media and others. 

  • May 2016

    NSEI’s .org website is published

    NSEI gets a facelift. www.thenewsportseconomy.org is published to the world. 

  • May 2016

    NSEI to attend congressional hearing

    The Subcommittee on Commerce, Manufacturing and Trade is planning a Congressional hearing on daily fantasy sports on May 11, 2016. Chris Rabalais, Managing Director of NSEI, will be in attendance. 

  • May 2016

    Victory event

    2016 (upcoming) – NSEI will be hosting a victory party on Saturday August 6, 2016 in Hollywood, California. The invitation-only, red carpet event will celebrate the culmination of 15+ years of effort by a few dedicated people who refused to take any shortcuts and stood up against sports gambling in support of the American Dream

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