West Palm Beach, FL
David T.
Kuhn
Selected Writing
Original strategic research at the intersection of market structure, regulation, and financial law — each series reflects frameworks actively built and published.
eventrisk.ai — Event Risk Series
Event Contracts and the Liquidity Threshold: Risk Transfer, Sportsbook Exposure, and the Derivatives Case for Event Markets
Introduces the Liquidity-Constrained Event Risk Transfer Curve to evaluate when event contracts can facilitate economically meaningful hedging under derivatives law.
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The Financialization of Event Risk
Analyzes the structural evolution of sportsbooks from risk warehouses to risk distributors if prediction markets achieve legal durability and institutional scale.
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Prediction Markets and the Economic Purpose Test
Foundational essay arguing that the CFTC's jurisdiction over event contracts should turn on whether a contract transfers pre-existing economic risk or creates new speculative risk.
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tcframework.com — Token Continuity Series
Token Continuity Framework (TCF White Paper)
Practitioner framework applying ground lease doctrine to token-holder structural protections under U.S. securities law — pathway-agnostic across the March 2026 SEC/CFTC release and the pending CLARITY Act, with protections enforced by structure rather than token-holder governance.
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From Disclosure to Design: Constraining Endogenous Risk in Structurally Subordinate Tokens
Extends the ground lease analogy to securities law's core concern and proposes a tiered token recognition framework drawing on leasehold mortgagee protection doctrine.
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Tokens Are Leases: Structural Subordination in Crypto's Dual Equity–Token Architecture
Argues that the dominant dual equity/token structure is economically equivalent to a ground lease, predictably subordinating token holders, and proposes a policy framework borrowed from ground-lease doctrine.
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Contact
As of August 2026, I serve as Senior Counsel at Holland & Knight LLP. KVL Advisory and Kuhn Venture Law LLC have concluded all engagements. This site remains available as an archive of my published research and writing.
West Palm Beach, FL
This is a personal site. It is not affiliated with, and does not speak for, Holland & Knight LLP.