Scott Mascianica Quoted in Bloomberg Law on SEC Effort to Clarify Regulatory Boundaries

Bradley partner Scott Mascianica was quoted in Bloomberg Law discussing how the SEC’s request for public comment signals a measured, consultative approach to defining regulatory boundaries for prediction markets.

According to Mascianica, regulators are likely most interested in input on the definition of the “event prong” within a security-based swap.

Events such as an issuer’s quarterly revenue, or if an issuer’s customers are going to meet a certain threshold, may have the hallmarks of a security-based swap, he said.

Mascianica said regulatory clarity will be welcomed by participants of prediction markets because it gives them brighter lines to follow.

Although the outcome of this joint request is yet to be determined, he said, the SEC seeking comment shows that the regulatory agency is looking for a way to provide that clarity.

“This suggests an agency that’s not going to be heavy-handed in this regard. They’re really going to seek input from the market, try to provide a greater measure of clarity to the industry,” he said. “At the end of the day, that ends up being a win.”

The full article, “Prediction Markets Encounter Another Regulator as SEC Joins Fray,” was published by Bloomberg Law on June 24, 2026. (login required)