It is rare that a compliance hire draws a tremendous amount of attention in the gaming space. However, when it comes to the Massachusetts Gaming Commission (MGC), nothing is normal.
With extremely rigid open meeting laws, the MGC public meetings are notorious in the U.S. gaming space. In the lead up to launching sports betting in the state, the commission held hundreds of hours of meetings.
Present for nearly all of those was MGC General Counsel Todd Grossman. While not one of the five commissioners, Grossman was always at the ready to offer legal interpretations of statutes and finesse through the specifics of every regulation.
Once Executive Director Karen Wells departed the organization in 2023, Grossman took on a new challenge, stepping in as the interim Executive Director until Dean Serpa took on the full-time role in 2024.
Earlier this month, Grossman departed the MGC after devoting nearly 13 years to the organization. He announced he was moving to PrizePicks as the group’s Director of Gaming Regulatory Compliance after nearly 30 years working exclusively in public service.
Grossman spoke with SBC Americas about the switch, why the public and private sector have more in common than you think and how he will fill the days now that he isn’t on dozens of hours of public Zoom meetings.
You’ve really spent your entire life in public service. What made you decide to leave for the private sector?
While deeply proud of my public service, particularly my fulfilling work at the MGC, I reached a point where I reflected on my future. Having achieved significant milestones at the MGC, and viewing the general counsel position as a pinnacle in state government, it seemed that it was unlikely that there’d be other public sector roles that would be able to generate the excitement and fulfillment I was seeking. So, if I was going to make the move from the MGC, it would have to be a special opportunity.
This led me to explore the private sector, not out of a desire to leave public service, but specifically because the position at PrizePicks presented a unique and perfect fit for me. The role aligns with my expertise in compliance and regulation, the company is on an exciting growth trajectory and I found an exceptionally talented team committed to building something great, similar to my experience at the MGC. When this amazing opportunity came knocking, I felt like I’d be doing a disservice to myself and my family if I didn’t answer the door.
Sometimes people argue that DFS doesn’t need a compliance team. For those who may not realize, what does the scope of your new role entail?
It seems to me that operating a DFS company without a compliance team is akin to walking the proverbial tightrope without a net. PrizePicks holds licenses in 14 jurisdictions and is active in many more. This peerless privilege demands meticulous adherence to local, state and federal laws and regulations whether directly overseen by a regulatory body or not.
My role involves understanding all governing laws, becoming intimately familiar with our platform and technology and establishing a program for constant vigilance and testing. We then need to ensure transparent and proactive communication with regulators and government officials. Our goal is to anticipate and prevent issues proactively, not simply react to them. I don’t believe this goal would truly be attainable without a dedicated compliance function.
As someone who has worked with operators on the casino and sports betting side, what insights from the other side of the table do you think will be the most helpful in your new role?
From a compliance perspective there are a great deal of similarities. In all cases including casino betting, sports wagering and daily fantasy sports, operators have to be mindful of such things as responsible gaming and player health issues, advertising and consumer protection related matters, finance and taxation associated issues and, of course, gaming-related matters.
My work in developing regulations and policies surrounding these types of issues has been helpful towards and understanding the principles behind the requirements, and what the regulator or enforcement body is truly interested in. That perspective has been helpful thus far in navigating the various regulatory infrastructures. Further, I’ve unfortunately seen what some of the accidental missteps by the various operators look like. That has, and hopefully will continue to be, helpful in developing and implementing even more guardrails at PrizePicks aimed at ensuring that we don’t make the same mistakes.
What do you think will be the biggest adjustment moving working with an operator? How much of an overlap in skill sets is there?
In the realm of the work I do, I think the skill sets are similar. The ability to digest a statute or regulation and turn it into a policy or procedure, and to effectively communicate that initiative across the organization were at the core of my past role and are true here too. Of course, the mission here is slightly different in that we are running a business and accountable in that sense as well. The ability to assess the overall impact of compliance related decisions on the business is a skill that I’ve been developing. It’s important to understand the impact of our work in compliance in the holistic sense as well as the specific.
Those in gaming, particularly the media, have become very familiar with you over the years because of the MA open meeting rules and numerous MGC livestreams. Can you reflect on the pseudo-fame that came with that and are you happy to largely be away from the Zoom camera for now?
Like many, I’m not a fan of seeing myself on video or hearing my own voice, so I won’t miss that! However, my previous role often required me to provide legal and tactical advice on the fly and in public, acting as a steady hand and beacon in high-pressure situations. Helping to guide the ship through those storms was a challenging and enjoyable part of the job that I’ll definitely miss. The experience, and pseudo-renown, that came along with it undoubtedly enhanced my legal, advocacy and leadership skills. While that adrenaline rush was unique, I’m excited to find new challenges and ways to get the adrenaline pumping here at PrizePicks.
