TO: Indian Gaming Association Member Tribes FROM: David Z. Bean, Chairman Jason Giles, Executive Director RE: ACTION NEEDED! Deadline Approaching – IGA Urges Member Tribes to Join Amicus Brief Combatting Unregulated Threats to Indian Gaming Date: November 10, 2025

The litigation effort to stem the expansion of sports-related event contracts continues. We are grateful to the tribes and intertribal organizations that joined the June amicus brief.  

The number of active cases where additional tribal amicus briefs would be helpful to halt the Commodity Futures Trading Commission (CFTC) from allowing self-certified, sports-related event contracts to be traded is growing. Unless there is action, the volume of sports-based event contracts traded on derivatives/futures markets is expected to grow—raising significant concerns for tribal gaming operators and regulators nationwide. It is crucial for Tribal governments to closely follow developments at the CFTC and in the courts.

By allowing event contracts that are wholly unrelated to commodities, the CFTC risks making policy decisions that overlook the well-documented harms of sports betting—harms that every State and Tribal government has a sovereign duty to evaluate. In addition, each sports event contract traded on tribal lands, or in violation of a Tribal-State compact, deprives tribes and states of revenue our communities rely upon. We are seeking additional tribal support for the following cases in November.

KalshiEX, LLC v. Schuler, No. 2:25-cv-1165-SDM-CMV (S.D. Ohio)

Amicus brief due November 14.

KalshiEX, LLC v. Hendrick, No. 2:25-cv-575 (D. Nev.)

Amicus brief due November 28.

They are substantially similar to the amicus brief IGA, NCAI, and several tribes filed in June.  It has been updated to reflect the analysis of the judge in the Maryland case and the evolving arguments put forth by Kalshi and Crypto.com. 

Please forward your Legal Counsel’s Name and State Bar Admission to Danielle Her Many Horses, dhermanyhorses@indiangaming.org , as soon as possible, but no later than September 12.