US Professor Who Teaches Horse-Racing Betting Accused of Using Insider Data for His Own Bets

^{Marshall Gramm, economics professor}

A US professor who teaches a course on horse-racing betting has been accused of using insider information to gain an advantage when placing bets. The allegations were announced by the Horseracing Integrity and Safety Authority (HISA).

Marshall Gramm is an economics professor at Rhodes College in Memphis. He has been involved in horse racing for years as a bettor and racehorse owner, while also teaching a college course on horse-racing betting that uses the sport to explore economics and decision-making.

According to HISA, from early May to mid-June 2026, Gramm used his account on a management portal to access confidential information about racehorses’ health. The investigation began after restricted veterinary data appeared to have been made available publicly.

To collect the information, the professor set up an automated system to download large amounts of data. The requests were designed to resemble normal activity by an authorized user, so they were not blocked by the system.

During the same period, Gramm placed horse-racing bets and acquired nine horses. The purchases were made through special races in which a participating horse can be claimed before the race at a predetermined price.

HISA plans to seek the return of profits Gramm earned during the period from betting and horse transactions, and to refer the case to law enforcement. Gramm acknowledges that he accessed the data through his account but denies fraud.

While the case is being investigated, Gramm has voluntarily stepped away from racing. Since 23 August, he has been barred from owning racehorses, acquiring new horses and entering racetracks.