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The Gaming Authority in the Netherlands (KSA) has imposed a half-million euro fine on LeoVegas, on the same day it gives the operator Vbet a warning for ‘shortcomings.’
The €500,000 ($590,000) fine for LeoVegas has come as the regulators said the company didn’t comply sufficiently with duty of care during the period from October 2023 to May 2024.
In the media release, the KSA explained how they requested several player files from the company and “found that all files referred to non-compliance with the duty of care.” In a shared example, they allege a player who deposited and lost tens of thousands of euros in a short time was not intervened in time.
They also suggest applied interventions were not always good enough as they said “a player who showed serious signs of immoderate playing behavior initially only received a pop-up that pointed out that playing behavior. This was also easy for the player to click away.”
Speaking on the fine, Michel Groothuizen, the chairman of the board of the KSA, said in a translated statement: “The duty of care is an essential part of the wider range of player protection. Providers must respond adequately to immoderate play. Large losses in a short time are an important signal of this.
“We have intensified our supervision of the duty of care and gambling providers are tackling this hard, because such an important part should not be neglected.”
KSA publishes two news updates on same day, about two separate companies
Also this week, the gaming authority said it has given SCGO Limited, which operates in the Netherlands under the name Vbet, a warning “for shortcomings in the field of the Money Laundering and Terrorist Financing Prevention Act.”
Back in April 2025, various documents were requested, including client files, internal documents on the Wwft policy and the risk assessment. It was after going through these that some shortcomings were found.
“The study shows, among other things, that Vbet does not sufficiently give substance to the company-wide risk assessment. This does not provide insight into the gross risks identified by Vbet and has no version control. As a result, the Ksa cannot properly assess how the risks from the risk assessment have been assessed, whether the management measures are effective and whether the risks are current.”
The company cooperated and proactively worked on a recovery plan during the investigation and indicated that it will follow the recommendations of the KSA.
Featured Image: Canva / LeoVegas / Vbet
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A contractor has been accused in a post–Hurricane Milton scam, with police alleging he targeted elderly victims and spent upwards of $53,000 at casinos.
Brian Michaud was arrested by Bradenton Police Department on Tuesday (December 16) on 13 felony charges. It was in July 2025 when Detective Michael Carpenter began to investigate complaints made by residents of Seabreeze Mobile Home Park.

BPD has arrested a contractor who solicited elderly victims in the aftermath of Hurricane Milton. Brian Michaud, operating as RedFin Construction, is charged with 13 felonies. His victims, ages 62-95, paid $220,000 for work that wasn’t completed. STORY:https://t.co/xldpgLnlym pic.twitter.com/vnGLuoMW0F
— Bradenton Police Department (@BradentonPD) December 17, 2025

“Fourteen victims, who range in age from 62 to 95, reported hiring Brian Michaud, operating as RedFin Construction, to repair damage caused by Hurricane Milton,” the police claim.
“Bank statements, contracts, and copies of checks indicated the victims made down payments totaling $222,000 for aluminium repairs to their carports, lanais, roofs, and sheds. However, Michaud failed to complete any of the work.”
Man held in Florida jail, as police ask people to contact them if they have more information
In the media release about the investigation, the police say it also allegedly revealed that the man isn’t a licensed contractor in the state and used another company’s license.
“Financial subpoenas for October 2024 through April 2025 indicated Michaud made multiple transactions and transfers between several business and personal accounts,” the press release states.
“During this time, the subpoenas indicated Michaud spent upwards of $53,000 at casinos and used these accounts for daily living and recreational expenses. While some transactions indicated Michaud made construction-related purchases, he didn’t use those materials to complete any of the victims’ projects.”
Michaud is facing the following charges, all of which remain alleged: ten counts of presenting someone else’s contractor’s license during a declared state of emergency, one count of scheming to to defraud ($50,000 or more), one count of misappropriation of construction funds ($100,000 or more), and one count of aggravated white-collar crime against an elderly victim ($50,000 or more).
The man is currently being held without bond at the Manatee County jail and the investigation continues. The police have asked people to contact Detective Carpenter if they have a similar complaint against Michaud or RedFin Construction.
Featured Image: Bradenton Police Department
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A British man who funneled money he’d stolen into gambling has been sentenced to seven years in prison, after conning 10 people out of more than £1 million ($1.4 million).
Morgan Reeve, 26, of Wodehouse Road, Hunstanton, was sentenced at Norwich Crown Court on Friday (December 19) after being found guilty of 19 counts of fraud by false representation following a trial.
British man’s gambling-fueled investment scam exposed before prison sentence
The court heard that Reeve’s scheme started in 2018 and ran for about three years. Over that time, he convinced people to hand over their money by telling them he would invest it for them. In reality, none of the victims ever saw the returns he promised, and their money was never paid back.
Reeve portrayed himself as a successful, wealthy trader, claiming he could make big profits through foreign exchange trading using an online platform called BD Swiss. Prosecutors said this image was built on lies. He repeatedly exaggerated or completely made up the profits he said he had earned for both himself and his victims, using false reassurances to keep them on side.

A man has been jailed for seven years after defrauding victims of over £1m.
Morgan Reeve, aged 26 was found guilty of 19 counts of fraud by false representation, following a trial. pic.twitter.com/WsOUVpySHR
— Norfolk Police (@NorfolkPolice) December 22, 2025

The court was told he stayed in touch with victims through several messaging apps, often guaranteeing there was no risk of losing money. When people started asking for their cash back, he stalled them with excuses and fresh promises instead of returning the funds.
The fraud finally unraveled when one victim went to the police. After that, others came forward, each describing similar stories and financial losses tied to Reeve.
Handing down a seven-year prison sentence, the judge pointed to how large the fraud was, how long it went on, and the serious impact it had on the victims’ lives.
Investigating officer DC Aaron Jones said in a press release that Reeve had “continuously manipulated multiple victims over an extended period of time” and confirmed that the money obtained was used to fund a lavish lifestyle and gambling. He added that the offences had a “devastating effect” on the victims and expressed hope that the sentence would provide reassurance that Reeve would be unable to commit further frauds for the foreseeable future.
Featured image: Norfolk Police
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The Canadian rapper Drake has posted on social media that there will be three livestreams back-to-back, with people who sign up having the chance to win 10% of his take home winnings.
The Stake branding is visible throughout the video, with the clips showing off hints at Drake’s luxury lifestyle, along with several gambling-related videos. The 39-year-old has advertised the online casino and sports betting company several times.
In a statement on Stake.US, the platform said: “Drake, the hip-hop sensation, has been a long-time member of the Stake community. Storming the ranks of the VIP program, Drake fell in love with both the platform, and the perks associated with our VIP program. It was then that this partnership was formed, based on mutual appreciation between mega-star and product.”

pic.twitter.com/up9HO77xWR
— Drizzy (@Drake) December 20, 2025

Not everyone has been happy with the musician’s partnership with Stake though, as a Missouri man filed a lawsuit against Drake and others in October. The class action lawsuit claims the online gambling site Stake.us, influencer Adin Ross, and Canadian rapper Aubrey “Drake” Graham were allegedly running an illegal online casino aimed at people in Missouri.
Shortly after, another lawsuit was filed accusing Sweepsteaks Limited, online influencer Adin Ross, and musician Drake (Aubrey Drake Graham) of allegedly operating an illegal online casino scheme marketed to New Mexico residents.
Drake has become a big name in celebrity gambling world
The man is known to gamble, and has quickly become one of the most recognizable faces in the world of celebrity gambling, but it doesn’t always go as planned in what many describe as being the ‘Drake Curse.’
In February 2023, the man bet against Tyson Fury’s younger brother in the boxing match against Jake Paul as he put $400,000 on the YouTuber turned boxer. It wasn’t to be in Drake’s favor though, as Tommy Fury won the fight by decision. In 2024, he lost $565,000 as he bet on the Gypsy King to beat Oleksandr Usyk.
More recently, it was revealed that he lost more than $8 million in a single month, all on sports betting.
Featured Image: Screenshot via X post
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A newly filed amicus brief in Kalshi’s ongoing legal fight with Maryland is adding fuel to a growing debate about who should regulate sports-related prediction markets, federal commodities regulators or state gambling authorities.
In a filing sent to the U.S. Court of Appeals for the Fourth Circuit, Todd Phillips, an assistant professor of legal studies at Georgia State University, argues that many of the sports-related contracts offered by KalshiEx LLC are “unlikely to be commodity derivatives.” Because of that, he says they wouldn’t fall under the “exclusive jurisdiction” of the Commodity Futures Trading Commission (CFTC). If courts ultimately agree with that view, Phillips contends, Maryland’s gaming laws would not be preempted.

I just filed an amicus brief in Kalshi’s lawsuit against Maryland, arguing that the sports-related contracts Kalshi lists are unlikely to be commodity derivatives, such that the CFTC does not have “exclusive jurisdiction” over them and Maryland’s gaming laws are not preempted. 1/ pic.twitter.com/flARj6aqHx
— Todd Phillips (@tphillips) December 22, 2025

Maryland amicus brief against Kalshi filing claims sport events are not commodities
“I just filed an amicus brief in Kalshi’s lawsuit against Maryland, arguing that the sports-related contracts Kalshi lists are unlikely to be commodity derivatives, such that the CFTC does not have ‘exclusive jurisdiction’ over them and Maryland’s gaming laws are not preempted,” Phillips wrote in a series of posts on X announcing the filing.
The brief lays out what Phillips describes as three core arguments. First, he says Congress enacted the Commodity Exchange Act (CEA) to regulate financial instruments designed to hedge economic risk.
As summarized in his post, “No financial risk, no derivative. No derivative, no federal preemption.” The brief similarly states that Congress intended the CEA to apply to “commodity derivative contracts that reasonably can be expected to be used for hedging on more than an occasional basis,” and not to contracts lacking meaningful economic consequences .
Second, Phillips argues that sports events generally do not qualify as commodities because they are not tied to the kind of financial or commercial consequences that would make contracts useful for hedging. He points to examples of contracts offered on Kalshi’s platform, including wagers tied to in-game commentary. “Kalshi offers a contract about whether an announcer says ‘what a catch’ during a broadcast,” he wrote. “There is no way this contract can be used to hedge.”
In the brief, Phillips underlines that this position is consistent with Kalshi’s own prior statements. He quotes Kalshi’s filing before the US Court of Appeals for the D.C. Circuit, in which the company stated that “contracts relating to games—again, activities conducted for diversion or amusement—are unlikely to serve any ‘commercial or hedging interest.’”
Third, Phillips argues that it is ultimately up to the courts, not regulators or exchanges, to decide whether a contract qualifies as a commodity derivative. “Just because Kalshi has self-certified that a contract is a derivative, or even if the CFTC agrees that a contract is a derivative, doesn’t mean it is,” he wrote. “Courts decide.”
Maryland warns against prediction markets
The filing comes as state regulators are taking a closer look at prediction markets. In November, Maryland became the latest state to warn licensees about offering these products, joining a growing number of jurisdictions questioning whether they amount to illegal gambling. Under Maryland law, online gaming, mobile sports wagering, and online fantasy sports competitions are allowed only when they are offered by operators licensed by the state.
Earlier, on August 13, a filing in the US District Court for the District of Maryland noted that Kalshi had received written assurances from the Maryland Lottery and Gaming that the agency would not enforce state gambling laws against the company while its appeal is still pending. In correspondence cited in the case, the regulator stated that its “decision is the final determination of whether gaming is operated legally in the state.”
Phillips’s brief doesn’t take a position on whether the CEA ultimately overrides state gaming laws. Instead, it argues that preemption can happen only if a court first determines that the contracts in question are commodity derivatives that fall within the exclusive jurisdiction of the Commodity Futures Trading Commission. If they are not, the brief concludes, “state law is certainly not preempted.” The appeal remains pending at the time of writing.
Featured image: Kalshi / Canva
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