USCA4 Appeal: 25-1892
Doc: 16
Filed: 10/15/2025
Pg: 85 of 97
stocks, on margins, without any intention of future delivery, whether such pretended contracts are to be performed within or without the state.” S. D. Comp. L. § 3925 (1929). T ENNESSEE x “[H]ereafter any sale, contract or agreement for the sale of … grain, cotton or other produce, property, commodity, article or thing, for future delivery, where either of the contracting parties, buyer or seller, in dealing simply for the margin, or on the prospective rise or fall in the price of the article or thing sold, and where either of the said contracting parties have had no intention or purpose of making actual delivery or receiving the property or thing in specie, shall be deemed and is hereby declared gambling .” Act of March 30, 1883, 1883 Tenn. Pub. Acts 331. V ERMONT x As a form of “ [g]ambling ,” a bucket shop is unlawful where it is used for “the pretended buying or selling of … petroleum, cotton, grain, provisions, pork or other produce … without any intention of receiving and paying for the property so bought, or of delivering the property so sold.” Vt. Gen. L. § 7081 (1917).
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