The U.S. federal court recently filed a class-action lawsuit against Drake, accusing him of promoting the crypto gambling platform Stake.us on social media and demanding millions in damages. The case has attracted industry attention, with the plaintiffs invoking the RICO Act— a legal tool typically used to combat organized crime groups— to charge Drake and related parties.

Why has crypto gambling become a hot topic? Essentially, many countries' traditional financial regulatory systems remain cautious about it. The anonymity features of cryptocurrencies add extra difficulty for regulators and law enforcement agencies. This lawsuit adopts a more aggressive legal strategy, indicating a shift in regulatory attitudes.

From a market perspective, Stake.us may face scrutiny in the short term, and the crypto payment channels it collaborates with could also be affected. However, historical experience shows that a single event has limited long-term impact on the entire market—similar shocks occurred during the FTX turmoil. The key depends on how public opinion and regulatory bodies will define and respond afterward.

Several details to watch out for: First, the lawsuit is still in its early stages, and Drake will likely argue that "at the time, the platform was compliant." Second, while the RICO Act has a broad scope, the burden of proof lies with the plaintiffs; if the platform holds proper licenses, the case could turn around. Third, cryptocurrencies are merely a payment medium and cannot be directly equated with illegal activity—this legal boundary needs clarification. Lastly, market reactions may be overinterpreted; after all, Drake's previous NFT collaborations also faced issues, and this could be a culmination of long-standing trust crises.

For investors, while following the case's progress, it's also important to rationally assess the legal ecosystem changes surrounding crypto assets.