Prediction Markets / Illegal Sports Betting
Lieff Cabraser represents consumers who allege that companies such as Kalshi and Underdog operate unlicensed and illegal sports books that masquerade as prediction markets or fantasy sports. Our prediction market group is currently investigating cases involving other prediction markets and fantasy sports companies for operating sports books that violate state law.
Contact us
To learn more about how these companies are failing to follow the law, including by failing to pay for sports licenses and complying with the regulations that come with those licenses, or to talk to a lawyer at Lieff Cabraser about your potential case against a prediction market or fantasy sports company, use the form below or call us toll-free at 1 800 541-7358. All information provided will be held in the strictest confidence, and there is no cost or obligation for our review of your case.
Lieff Cabraser’s Prediction Market Cases & Investigations
- Kalshi
- Lieff Cabraser serves as Court-appointed Lead Counsel in a proposed nationwide class action in the Southern District of New York. The Complaint alleges that Kalshi operates an unlicensed and illegal sports book that masquerades as a prediction market.
- Underdog
- Lieff Cabraser serves as Court-appointed Lead Counsel in a proposed nationwide class action in the Southern District of New York. The Complaint alleges that Underdog operates an unlicensed and illegal sports book that masquerades as a fantasy sports platform.
Lieff Cabraser is currently investigating other companies in the prediction market space.
Learn About Our Team

Wilson Dunlavey and David Stellings
About David Stellings
A partner in Lieff Cabraser’s New York office, Mr. Stellings serves as Lead Counsel in the Underdog class action, and Co-Lead Counsel in the Kalshi class action. Mr. Stellings is a member of the firm’s Executive Committee. For approximately the last 28 years, Mr. Stellings has focused on product liability, consumer fraud, financial fraud, and breach of contract cases. His clients and class members have received more than $18 billion as a result of his advocacy.
About Wilson Dunlavey, Ph.D.
A partner in Lieff Cabraser’s New York office, Mr. Dunlavey serves on the leadership team in the Underdog class action, and is a member of the Plaintiffs’ Steering Committee in the Kalshi class action. Mr. Dunlavey has focused on environmental torts, consumer fraud, breach of contract, and product liability cases. His is regularly appointed to leadership positions by federal district court judges and recognized by fellow members of the Plaintiffs’ bar for his creativity and tenacity. In just eleven years of practice, Mr. Dunlavey has changed company practices and recovered over $16 billion for his clients.
About Jake Miller
An associate in Lieff Cabraser’s New York office, Mr. Miller serves on the leadership team in the Underdog and Kalshi class actions. Prior to joining Lieff Cabraser, Jacob was a judicial law clerk for the Honorable James Donato of the U.S. District Court for the Northern District of California and for the Honorable Todd Eddins of the Supreme Court of Hawaii. Previously, he was an associate at a litigation boutique in New York. Jacob is also a USCF National Master in chess, winner of a World Series of Poker Circuit ring, and former head coach of the Harvard College Debating Union.
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