tldr; A lawsuit filed against rapper Drake and others alleges their involvement in an illegal crypto gambling operation through Stake.us, exposing a $38 billion underground gambling market in the U.S. The lawsuit accuses them of promoting illegal gambling and money laundering. Research by YieldSec reveals that illegal operators dominate 74% of the U.S. online gambling market, undermining legal operators and depriving governments of tax revenue. The rise of crypto gambling and inadequate enforcement exacerbate the issue, calling for stronger regulatory measures.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
chainer3000 on
“Exposes”
Uhh these sites openly advertise everywhere, it’s no secret. Anyone who has used these sites should be able to sue the shit out of them and all the streamers who promote the services using comp’d/given money and pretending it’s their own.
MarioWilson122 on
If it has celebs connected, its likely a scam, rarely if ever works out.
Altruistic-Raise-579 on
Not surprised at all. The size sounds crazy until you remember how much of this stuff lives in gray zones by design. What usually gets missed is how fast money hops jurisdictions and wrappers before anyone can even argue legality. By the time a lawsuit shows up, the structure that mattered has already mutated twice. I started keeping a rough log of these blowups because patterns repeat, same payment rails, same excuses, just different celebrities attached. Makes you wonder how much is still invisible simply because nobody famous has tripped over it yet.
4 Comments
tldr; A lawsuit filed against rapper Drake and others alleges their involvement in an illegal crypto gambling operation through Stake.us, exposing a $38 billion underground gambling market in the U.S. The lawsuit accuses them of promoting illegal gambling and money laundering. Research by YieldSec reveals that illegal operators dominate 74% of the U.S. online gambling market, undermining legal operators and depriving governments of tax revenue. The rise of crypto gambling and inadequate enforcement exacerbate the issue, calling for stronger regulatory measures.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
“Exposes”
Uhh these sites openly advertise everywhere, it’s no secret. Anyone who has used these sites should be able to sue the shit out of them and all the streamers who promote the services using comp’d/given money and pretending it’s their own.
If it has celebs connected, its likely a scam, rarely if ever works out.
Not surprised at all. The size sounds crazy until you remember how much of this stuff lives in gray zones by design. What usually gets missed is how fast money hops jurisdictions and wrappers before anyone can even argue legality. By the time a lawsuit shows up, the structure that mattered has already mutated twice. I started keeping a rough log of these blowups because patterns repeat, same payment rails, same excuses, just different celebrities attached. Makes you wonder how much is still invisible simply because nobody famous has tripped over it yet.