
Who Owns WallStreetBets? Trademark Use in Commerce and the Reddit Battle
3/7/2025
0:00
12:07
Who really owns WallStreetBets? The man who created the subreddit, or the platform that hosted it?
In this episode of The Briefing, Scott Hervey and Tara Sattler dive into the trademark showdown between Jaime Rogozinski and Reddit, and why both the District Court and the Ninth Circuit said no to Rogozinski's claim of trademark ownership.
This case is a cautionary tale for creators and entrepreneurs about what really counts as “use in commerce” under trademark law. Just coining a catchy name or launching a community isn’t enough. If you’re not the one offering goods or services under the brand, you don’t own the trademark. Watch this episode here. Show Notes:
Scott: He created the subreddit. He coined the name. He even filed a trademark application for it. But when Jamie Rogosinski took reddit to court to enforce his claim over the Mark Wall Street bets, both the district Court and the Ninth Circuit told him the same thing. Just because you created the name doesn't mean you own the trademark. I'm Scott Hervey, a partner with the Law firm of Weintraub Tobin, and I'm joined today by my colleague, Tara Sattler. We are going to talk about Trademark use, ownership, and the Reddit battle over Wall Street bets on this installment of The Briefing. Tara, welcome back to The Briefing. Thanks for being here today.
Tara: Thanks for having me. Always glad to be chatting with you, Scott.
Scott: So this one's a real interesting I think almost everybody knows about the subreddit Wall Street Bets. Can you give us some background on this whole dispute?
Tara: Yes, absolutely. So the story starts with Jamie Rogosinsky, and I really hope I'm pronouncing that right. So my apologies if I'm not. But Jamie Rogosinsky, the man widely credited with launching the subreddit feed Wall Street Bets back in 2012. And What began as a niche community for high-risk trading chatter exploded into really a cultural phenomenon in 2021 during the Gamestop and AMC Short Squeez. Right.
Scott: Sensing an opportunity to commercialize the brand. Rogusinski filed a trademark application for Wall Street Bets in 2020, covering merchandise and other goods. But Reddit, which owned and hosted the subreddit platform, wasn't on board with that. It removed Rogusinski as a moderator for violating its policies and later filed its own trademark application for the same name, this time for an online forum service.
Tara: So Rogusinski sued Reddit in early 2023 in the Northern District of California and asserted claims for trademark infringement, unfair competition, and declaratory relief, arguing that he, not Reddit, owned the Wall Street Beats brand.
Scott: Let's talk about who actually used the mark. So to understand why both the District Court and the Ninth Circuit rejected Jamie Rogosinski's trademark claim over Wall Street bets, we have to look closely at what each party actually did with the trademark, and more importantly, how the law defines, quote, use in commerce.
Tara: Right. So Rowe Kuzinski argued that he was the originator of the mark. He created the subreddit, Wall Street Bets in 2012, moderated it for eight years, and even shaped the visual identity of the community itself. So according to him, he wasn't just a user, he was the brand in the brand space.
Scott: And to bolster that claim, he pointed to several activities movies. First, he published a book in January 2020 that he called Wall Street Bets: How Boomers Made the World's Biggest Casino for Millennials. He linked it to the subreddit, and he Wall Street Betts' name directly in the title.
Tara: He also announced plans to launch Wall Street Betts' branded merchandise and even promoted a real money esports trading competition, all under that Wall Street Bets' name. He highlighted his growing media presence and public persona, and he claimed the public really associated him with the mark and not read it.
Scott: But here's the legal problem. None of Isn't that moderating a subreddit feed,
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