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Prediction Market Contracts and Federal Income Tax: Wagering, Investing or Something Else?

Prediction-market event contracts raise unresolved federal income tax questions because they combine features of wagers and financial instruments. A typical contract may allow a participant to buy a “yes” or “no” position on whether a specified event will occur—such as the outcome of a sports contest, election, weather event or other real-world contingency. Economically, these…

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How AI Is Resetting the SaaS Valuation Multiples in Private Equity and Private Credit

The private credit redemption wave of 2025–2026 has renewed focus on how software and technology assets are valued in an evolving AI environment. Software remains a significant area of concentration across alternative investment portfolios. A quarter of private credit – approximately $112 billion – is in software and technology. On the equity side, software drew…

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Los Angeles Business Journal Names Two Withum Leaders as Women of Influence in Accounting

Kimberly Ravenell, tax partner, was recognized for her commitment to client service and mentorship. With more than 30 years of experience advising high-net-worth individuals and closely held businesses, she provides tax planning and compliance guidance. Kim has played a key role in guiding her team and clients through significant industry and regulatory changes while supporting…

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Five Signs Your Law Firm’s Records Are a Liability Waiting to Happen

Law firms generate and manage an enormous volume of information over the life of every client matter. As those records accumulate across systems, effective legal records management becomes more complex. Most firms assume those records are under control until they’re asked to produce them during litigation, respond to a cybersecurity incident or prepare for AI-powered…

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