NSEI is an Active Participant in the Courts and Has Submitted Multiple Amicus Briefs.
Southern District New York
November 18, 2022
SEC v. Ripple Labs, Bradley Garlinghouse, and Christian A. Larsen
NSEI Position: Since the SEC's mission is to protect investors, we must define what an investment truly is in the first place. An investment is a position in a cash flow generating asset coupled with a margin of safety. One cannot "invest" in crypto because, for the most part, cryptos do not generate cash flows. Thus, investor protection in the 21st century must include people that are truly investing AND people who think they are investing, but are actually speculating.
New York Court of Appeals
NSEI Position: DFS is not a game. Rather, DFS is a claim on future contingent events, specifically athlete performances in sports. Therefore, DFS is illegal gambling under the Penal Law..
August 17, 2021
Jennifer White, et al. v. NY State Governor Andrew Cuomo & The NY State Gaming Commission
Indiana Supreme Court
NSEI Position: Athlete statistics are like financial indices, and their consented use for commercial purposes violates the right-of-publicity under Indiana law (just like the unconsented use of the indices for commercial purposes constitutes misappropriation).
May 30, 2018
Akeem Daniels, et al. vs. FanDuel, Inc. and DraftKings, Inc.
Supreme Court of the United States
NSEI Position: Gaming and Gambling are not equivalent. Gaming is a matter reserved to the states. Gambling, if it involves claims on future contingent events, is reserved to the Federal government.
September 5, 2017
Christopher Christie, Gov. of New Jersey vs. National Collegiate Athletic Association (NCAA)
New York Supreme Court
Appellate Division - First Department
March 23, 2016
People of the State of New York vs. FanDuel, Inc. and DraftKings, Inc.
NSEI Position: DFS is not a game. Furthermore, it fails the 'future contingent event' prong of the gambling test, therefore DFS is gambling under New York law.
*The case settled around the same time NSEI submitted its amicus brief, therefore it was not docketed.