Willkie Farr & Gallagher LLP

Delfino e Associati Willkie Farr & Gallagher LLP successfully assisted Polymarket.com in the administrative appeal before the Regional Administrative Court (TAR) against the order requiring the site to be blocked. On 15 December 2025, the Italian Agency for Customs and Monopolies ordered the immediate restoration of access to polymarket.com, which had originally been blocked by the same Agency pursuant to its powers to remove services and products deemed non-compliant with the regulations governing gaming and betting. Polymarket.com is a platform hosting so-called prediction markets on real-world events, ranging from politics and current affairs to economics and sports, with the stated aim of aggregating the forecasts of the “wisdom of crowds” in order to generate real-time statistics and polling data. In addition to predictive surveys, the platform also includes a feature that allows users to place bets—using cryptocurrencies, in particular the USDC stablecoin—on the outcomes of the reported events. Delfino e Associati Willkie Farr & Gallagher LLP secured the revocation of the Agency’s blocking order with respect to all website functionalities unrelated to so-called prediction markets, thereby allowing users connecting from Italy to access all news, surveys, and information available on the site. This significant result was achieved by the team at Delfino e Associati Willkie Farr & Gallagher LLP, led by Attorney Roberto Cursano (pictured). Alongside Attorney Cursano, Attorneys Francesca Romana Baratta and Riccardo Ovidi assisted the client throughout all stages of the administrative proceedings. “The revocation of the original blocking order against polymarket.com, obtained following the filing of the appeal before the Regional Administrative Court of Lazio,” notes Roberto Cursano, partner at Delfino e Associati Willkie Farr & Gallagher LLP, “represents a particularly important precedent in the context of the regulation of digital services and innovative platforms. It confirms the need for a rigorous, proportionate, and case-by-case application of restrictive measures adopted by administrative authorities, especially when such measures affect access to online services and the freedom of information and economic initiative.”

Willkie Farr & Gallagher LLP announced today that private funds lawyer Terence Rozier-Byrd has joined the Firm as a partner in the Asset Management Department. He is based in New York. Terence represents private fund sponsors on the formation and ongoing operation of investment funds across the spectrum of asset classes, including private equity, growth equity, credit, real estate, fund of funds, hybrid and hedge funds.  Terence also regularly advises private fund sponsors and institutional investors on a variety of transactional matters, including co-investments, seed capital arrangements, early and growth stage venture capital investments, secondary transactions in private companies and secondary transactions involving interests in private funds. He has been recognized for his achievements and leadership by legal directories and professional organizations and is a frequent speaker at industry events.  “Terence brings significant private fund formation and transactional experience to our global private funds team, and we are delighted to welcome him to Willkie,” said Phil Isom, Chair of Willkie’s Private Funds practice group. “His diverse practice across various asset classes and substantial secondaries sector work will further augment our capabilities, as we continue to see increased demand from sponsors and investors for fund formation and transactional capabilities across our offices.” Terence joins a team of 25 partners in Willkie’s Asset Management Department who focus specifically on private fund formation and liquidity solutions transactions across the Firm’s offices in New York, Washington D.C., Los Angeles, Chicago, Houston, London, Paris and Frankfurt. He was previously a partner at Akin Gump. Terence commented: “Willkie’s leading asset management platform is one of the most experienced and diversified in the market. Its well-established global transactional practices and market leading SEC regulatory and compliance practice group are ideal complements for the next phase of my practice. I am excited to further extend the Firm’s deep private funds capabilities to clients in the U.S. and globally.” Willkie’s Asset Management team is one of only three firms ranked by Chambers USA for each of Private Equity: Fund Formation; Investment Funds: Regulatory & Compliance; Investment Funds: Investor Representation; Hedge Funds; and Registered Funds. Willkie is also recognized in the 2024 editions of Chambers Europe (France) for Investment Funds and Chambers UK for Investment Funds: Private Equity Secondaries.