Uploaded March 2026 | Updated September 2026, 2 weeks ago
New York just sued Valve, and we break down why the CS case gambling lawsuit could reshape how video games make money.
Richard Lewis, Thorin, and MonteCristo are joined by Harris Peskin — the show's resident lawyer and most frequent recurring guest — to dissect the New York Attorney General's explosive lawsuit against Valve, which alleges that Counter-Strike case openings constitute illegal gambling under New York law. Richard and Thorin bring firsthand knowledge of the CS skin gambling ecosystem — including Richard's 2016 exposés on rigged gambling sites and the OP Skins money laundering hub — while MonteCristo and Harris trace the case through prior legal precedents. The crew weighs Valve's surprisingly sharp public response, debates whether AG Letitia James has the political will to take this to the Supreme Court, and explores what a New York win would mean for Magic: The Gathering, Roblox, Fortnite, and anyone building a virtual economy with a secondary market.
Topics covered:
⦁ Is opening a CS case legally equivalent to gambling?
⦁ How CS skin secondary markets work, and why Valve's trade URL is central to the complaint
⦁ The legal precedents that make or break this case
⦁ OPSkins: how Richard Lewis exposed it as the cashout hub for every major rigged CS gambling site
⦁ Letitia James's political ambitions and why this lawsuit is as much about 2026 as it is about Valve
⦁ The domino effect: could a NY win topple Magic: The Gathering, Roblox, and the entire trading card economy?
⦁ Pete Rose, PASPA, and how America's relationship with gambling has completely reversed in 40 years
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PrizePicks: Visit prizepicks.onelink.me/LME0/HORSEMEN and use code HORSEMEN and get $50 in lineups when you play your first $5 lineup!
Ridge: Right now, Ridge is having their once-a-year Anniversary Sale! Head to Ridge.com/HORSEMAN to get up to 40% off.
The Four Horsemen is the premier esports industry show that reacts to important news and critical conversations across all major titles. Esports veterans Duncan "Thorin" Shields, Richard Lewis, and Christopher "MonteCristo" Mykles use their decades of experience to shed light and debate on key esports topics as they emerge. Each episode they are joined by an expert guest to help further provide insider information on the topic at hand.
The Four Horsemen episode 60 was filmed on March 18, 2026.
🎬 Credits
Editing: Andrew Hibbard
🎧 Watch/Listen to The Four Horsemen:
Spotify (with video): open.spotify.com/show/2NBATCQs2dq50PJRjND7j9
Apple Podcasts: podcasts.apple.com/us/podcast/the-four-horsemen/id1555303495
Pocket Casts: https://pca.st/ucw0inmo
Pandora: pandora.com/podcast/the-four-horsemen/PC:1001030353
iHeart: iheart.com/podcast/104246987
💬 Join the conversation:
Discord: discord.gg/zeWYq4JhEU
Join the crew by following us on all social media platforms!
► Twitter: twitter.com/LastFreeNation
► Twitch: twitch.tv/insightonesports
► Main YouTube: youtube.com/c/InsightOnEsports
► CS YouTube: youtube.com/@lastfreenationcs
► Instagram: instagram.com/lastfreenation
► Discord: discord.gg/zeWYq4JhEU
► Facebook: facebook.com/lastfreenation
► Tiktok: tiktok.com/@lastfreenation
► Linkedin: linkedin.com/company/lastfreenation
► Snapchat: snapchat.com/add/last-freenation
0:00 NY Sues Valve: CS Case Gambling Explained
6:11 How CS Skin Secondary Markets Work
11:09 Is This Actually Gambling? The Legal Test
16:04 Kater v. Churchill Downs: The Key Precedent
22:31 Valve's Trade URL: Central Evidence in the Complaint
29:15 Why Prosecute Now? Politics & the Tolling Agreement
36:18 PASPA & How Sports Gambling Was Legalized
39:44 The Charges & Damages NY Is Seeking
47:48 Letitia James's Political Ambitions & 2026
53:04 Richard: The Strongest Valve Gambling Case Yet
59:02 OPSkins
1:05:04 Valve's Public Statement: "See You in Court"
1:10:41 Richard's Years Inside the Vegas Esports Gambling World
1:21:04 Could a NY Win Topple Magic: The Gathering?
1:27:41 You Don't Own Your CS Skins (You Have Valve's Grace)
1:34:07 Are CS Skins Taxable as Currency?
1:38:40 The Howey Test Applied to CS Skins & Roblox Securities
1:44:21 EU Loot Box Regulation vs. the US Approach
1:49:54 Valve's New CS Laptop Mechanic: Even More Abstraction
1:54:05 Final Thoughts & Harris as the Fourth Horseman
#CounterStrike2 #Esports #TheFourHorsemen #LFN #EsportsIndustry
New York just sued Valve, and we break down why the CS case gambling lawsuit could reshape how video games make money.
Richard Lewis, Thorin, and MonteCristo are joined by Harris Peskin — the show's resident lawyer and most frequent recurring guest — to dissect the New York Attorney General's explosive lawsuit against Valve, which alleges that Counter-Strike case openings constitute illegal gambling under New York law. Richard and Thorin bring firsthand knowledge of the CS skin gambling ecosystem — including Richard's 2016 exposés on rigged gambling sites and the OP Skins money laundering hub — while MonteCristo and Harris trace the case through prior legal precedents. The crew weighs Valve's surprisingly sharp public response, debates whether AG Letitia James has the political will to take this to the Supreme Court, and explores what a New York win would mean for Magic: The Gathering, Roblox, Fortnite, and anyone building a virtual economy with a secondary market.
Topics covered:
⦁ Is opening a CS case legally equivalent to gambling?
⦁ How CS skin secondary markets work, and why Valve's trade URL is central to the complaint
⦁ The legal precedents that make or break this case
⦁ OPSkins: how Richard Lewis exposed it as the cashout hub for every major rigged CS gambling site
⦁ Letitia James's political ambitions and why this lawsuit is as much about 2026 as it is about Valve
⦁ The domino effect: could a NY win topple Magic: The Gathering, Roblox, and the entire trading card economy?
⦁ Pete Rose, PASPA, and how America's relationship with gambling has completely reversed in 40 years
ExpressVPN: Secure your online data today by visiting ExpressVPN.com/horsemen, and find out how you can get up to four extra months.
Raycon: The Essential Open Earbuds are perfect for refreshing your routine this spring! Go to buyraycon.com/horsemenopen to get 20% off.
PrizePicks: Visit prizepicks.onelink.me/LME0/HORSEMEN and use code HORSEMEN and get $50 in lineups when you play your first $5 lineup!
Ridge: Right now, Ridge is having their once-a-year Anniversary Sale! Head to Ridge.com/HORSEMAN to get up to 40% off.
The Four Horsemen is the premier esports industry show that reacts to important news and critical conversations across all major titles. Esports veterans Duncan "Thorin" Shields, Richard Lewis, and Christopher "MonteCristo" Mykles use their decades of experience to shed light and debate on key esports topics as they emerge. Each episode they are joined by an expert guest to help further provide insider information on the topic at hand.
The Four Horsemen episode 60 was filmed on March 18, 2026.
🎬 Credits
Editing: Andrew Hibbard
🎧 Watch/Listen to The Four Horsemen:
Spotify (with video): open.spotify.com/show/2NBATCQs2dq50PJRjND7j9
Apple Podcasts: podcasts.apple.com/us/podcast/the-four-horsemen/id1555303495
Pocket Casts: https://pca.st/ucw0inmo
Pandora: pandora.com/podcast/the-four-horsemen/PC:1001030353
iHeart: iheart.com/podcast/104246987
💬 Join the conversation:
Discord: discord.gg/zeWYq4JhEU
Join the crew by following us on all social media platforms!
► Twitter: twitter.com/LastFreeNation
► Twitch: twitch.tv/insightonesports
► Main YouTube: youtube.com/c/InsightOnEsports
► CS YouTube: youtube.com/@lastfreenationcs
► Instagram: instagram.com/lastfreenation
► Discord: discord.gg/zeWYq4JhEU
► Facebook: facebook.com/lastfreenation
► Tiktok: tiktok.com/@lastfreenation
► Linkedin: linkedin.com/company/lastfreenation
► Snapchat: snapchat.com/add/last-freenation
0:00 NY Sues Valve: CS Case Gambling Explained
6:11 How CS Skin Secondary Markets Work
11:09 Is This Actually Gambling? The Legal Test
16:04 Kater v. Churchill Downs: The Key Precedent
22:31 Valve's Trade URL: Central Evidence in the Complaint
29:15 Why Prosecute Now? Politics & the Tolling Agreement
36:18 PASPA & How Sports Gambling Was Legalized
39:44 The Charges & Damages NY Is Seeking
47:48 Letitia James's Political Ambitions & 2026
53:04 Richard: The Strongest Valve Gambling Case Yet
59:02 OPSkins
1:05:04 Valve's Public Statement: "See You in Court"
1:10:41 Richard's Years Inside the Vegas Esports Gambling World
1:21:04 Could a NY Win Topple Magic: The Gathering?
1:27:41 You Don't Own Your CS Skins (You Have Valve's Grace)
1:34:07 Are CS Skins Taxable as Currency?
1:38:40 The Howey Test Applied to CS Skins & Roblox Securities
1:44:21 EU Loot Box Regulation vs. the US Approach
1:49:54 Valve's New CS Laptop Mechanic: Even More Abstraction
1:54:05 Final Thoughts & Harris as the Fourth Horseman
#CounterStrike2 #Esports #TheFourHorsemen #LFN #EsportsIndustry
