Stephen Piepgrass, leader of Troutman Pepper Locke’s Regulatory Investigations, Strategy + Enforcement (RISE) Practice Group, was quoted in the June 3, 2026 ReadWrite article, “Prediction Markets Face a Geolocation Reckoning as Regulators Tighten Scrutiny Worldwide.”

  • Stephen Piepgrass, partner leader of regulatory investigations, strategy and enforcement at Troutman Pepper Locke, stated that federally regulated platforms such as Kalshi must comply with know-your-customer and anti-money laundering requirements that do not apply to many offshore prediction markets.