On Monday, October 19, 2026, William Ichioka filed a complaint in the US District Court for the Southern District of New York against professional poker players Daniel “Dan” Smith and Steven Silverman, seeking the return of 244.6 Bitcoin and $100,000 he says he paid them in wagers on the outcome of the 2020 presidential election.
According to the complaint, the bets were placed between October 2020 and March 2021. Ichioka alleges the defendants acted as unlicensed sportsbooks, requiring him to deposit funds with them before the wagers were settled. The filing says the Bitcoin was worth millions of dollars when it was sent and is worth substantially more today.
Ichioka brings a single claim under New York General Obligations Law § 5-419. The statute allows a person who deposits money or property on a prohibited wager to sue the winner or stakeholder to recover it. The complaint argues that Ichioka’s willing participation is immaterial under the law. It cites a 1911 New York decision, Wilkenfeld v. Attic Club, which distinguishes wagers on events such as “racing or elections” from games of chance.
The complaint alleges Smith contacted Ichioka in New York around October 2020 after a mutual acquaintance, with whom all three had ties, provided his contact information. Smith allegedly asked whether Ichioka wanted to bet on the election and said Silverman wanted to wager as well.
The filing quotes an October 20, 2020 text from Smith describing a bet of 40.3 Bitcoin against Ichioka’s 25. It also states that many of the wagers were placed in December 2020, after the election, on the possibility that Joe Biden’s win would be overturned in favor of Donald Trump.
Ichioka alleges he sent Smith 90 Bitcoin in three batches of 25, 60, and 5, and $100,000 in the cryptocurrency USDT in March 2021. The complaint says Smith induced that final bet, made months after the election, by offering 25-to-1 odds. Ichioka further alleges he sent Silverman 154.6 Bitcoin and that both defendants kept the funds.
The complaint lists Smith as a resident of Las Vegas and, alternatively, Brooklyn, and says he owns property at both addresses. It lists Silverman’s domicile as Ridgway, Colorado. Ichioka lived in New York at the time and is now domiciled in Roseville, California. He alleges that all communications and Bitcoin transfers originated in New York and that Smith knew it, having spent time with him at his Manhattan residence on multiple occasions.
The plaintiff asserts federal jurisdiction based on diversity of citizenship and an amount in controversy above $75,000. He seeks the return of the funds, plus interest, punitive damages, and other relief the court deems appropriate.
Please contact BlockTribune for access to a copy of this filing.
Be the first to comment