News with the tag "draftkings"

The world of NFTs, once hailed as the next big thing in digital ownership, is now facing legal scrutiny. In a significant development, sports betting giant DraftKings has agreed to a $10 million settlement to resolve a class action lawsuit centered around its NFT offerings. This move shines a spotli...

Two artists have taken legal action to demand clarification from the SEC over the status of NFTs.

It comes four weeks after a federal judge found DraftKings NFTs fell “within the meaning” of the Securities Act and Exchange Act and thus could be securities.

The sports gambling company faces a class action lawsuit alleging its NFTs are securities.

A US Judge has rejected DraftKings’ motion to dismiss the class action lawsuit filed by the company’s Non-Fungible Token (NFT) buyers. The lawsuit accuses DraftKings, its CEO, CFO, and president of allegedly violating federal securities laws with its NFTs. Related Reading: New Crypto Regulation: Fir...

A Massachusetts judge has refused DraftKings' motion to dismiss a class action lawsuit filed by buyers of its non-fungible tokens (NFTs).

The class action suit from DraftKings buyers alleges that NFTs are investment contracts.

CoinDesk's Danny Nelson reported that Polygon paid DraftKings to be on the network, a furtive deal that only misrepresents consumer choice.

Polygon quietly gave DraftKings' validator preferential treatment while telling the public it was an "equal" member of the validator community.

The company is backed by Shalom Meckenzie, the largest individual shareholder in sports betting company DraftKings.