Marshall Gramm Agrees to Voluntary Suspension as Horse Racing Fraud, Insider Information Cases Continue

Marshall Gramm, a Memphis economics professor, longtime horse owner, and well-known handicapping contest player, has voluntarily stepped away from horse racing while he fights fraud and data-access charges from the Horseracing Integrity and Safety Authority (HISA). Gramm and his attorney signed a four-page provisional suspension agreement on Sunday, August 23, 2026, one day before HISA’s deadline for his formal response to the charges.

For U.S. horseplayers, the case matters because it centers on the confidential veterinary database HISA built to protect horse welfare and keep wagering fair. If an owner or contest player can pull private health data on horses that belong to someone else, that access could shape claiming decisions and betting outcomes for everyone else in the pool.

What HISA Accuses Marshall Gramm of Doing

Gramm, a Rhodes College economics professor in Memphis who also teaches a course on the economics of racetrack wagering markets, is the co-founder and managing partner of ownership group Ten Strike Racing. HISA’s case traces back to June, when past performance reports for two horses, Deterministic and Griffin’s Wharf, containing confidential health data appeared on social media, posted by someone with no legitimate connection to either horse. That prompted an internal HISA investigation, which the authority expanded after ruling out any outside breach of the HISA Portal itself.

According to HISA, Gramm developed an automated method for pulling confidential veterinary records at scale, built to mimic normal authorized activity and avoid detection by HISA’s security systems. The authority alleges he used it to obtain health information on thousands of racehorses he had no legitimate connection to during a roughly six-week window from early May into mid-June 2026. Only a horse’s primary owner, HISA-approved veterinarians, and state racing regulators are supposed to see that information. Separately, the Paulick Report found that Ten Strike Racing claimed nine horses, solely or in partnerships, at Churchill Downs, Monmouth Park, and Parx Racing during that same window, the number HISA says it is seeking restitution on.

HISA brought two charges: a Rule 2251 violation for improper access to veterinary treatment records, and a Rule 8100(h) fraud charge tied to using that data for wagering or claiming decisions. HISA CEO Lisa Lazarus has compared the alleged conduct to insider trading, and the authority says an independent cybersecurity review by Arete pointed to Gramm as solely responsible for the access.

When confronted with the investigation’s findings, Gramm acknowledged he was the source of the Deterministic and Griffin’s Wharf reports. He disputes HISA’s fraud characterization, saying the data was reachable through his own authorized HISA account, that he used his own credentials without hiding his identity, that he bypassed no security protocols, and that he did not initially grasp the scope of what he had pulled. He has said he intends to defend himself at the September hearings.

What the Voluntary Suspension Actually Changes

The agreement Gramm signed is a provisional suspension, not a final ruling, and he can withdraw from it at any time. It is also not an admission that he violated HISA’s rules, and the agreement leaves open the possibility he could ultimately be cleared; any time served provisionally would count toward a final penalty if he is found to have committed violations. Until the case resolves, Gramm:

• Cannot own, claim, or hold a financial interest in any HISA-covered horse
• Must transfer his ownership interests to another designated owner before those horses can race or record a timed workout
• Cannot be present at a racetrack
• Has had his HISA Portal access revoked, though his HISA registration remains active while proceedings continue

Gramm said Monday he is continuing to work with HISA in good faith while preserving his right to defend himself. He has already returned his handicapping contest earnings and says he is working to return purse money and the horses connected to the investigation, pending instructions from HISA on how to complete that process properly.

Separately, on August 24, the National Thoroughbred Racing Association announced that Gramm had withdrawn from the 2027 National Horseplayers Championship and that his NHC Tour membership and contest participation had been suspended pending the outcome of HISA’s case.

What Happens Next

Two separate hearings are scheduled for September, and neither is open to the public. A three-member panel of HISA board members will hear the fraud charge on September 14, while HISA’s Racetrack Safety Committee will hear the records-access charge on September 16. HISA outside counsel has said enforcement staff will likely pursue severe sanctions, potentially including a lifetime ban from ownership. Typical HISA cases take about 70 days to resolve from charge to outcome.

HISA also says it plans to share the evidence from its investigation with state racing commissions, wagering platforms, and law enforcement, and that it intends to pursue restitution for the original owners whose former horses went on to earn purse money for new connections.

Why This Case Matters Beyond Marshall Gramm

HISA was created under a federal law meant to bring uniform safety and integrity standards to a sport that had long been regulated state by state. A case involving confidential data, claiming races, and handicapping contests tests how well that system actually protects the information it collects. Racing insiders have also raised the question of whether anyone besides Gramm had a hand in the alleged access, though HISA says its investigation points to him alone unless new evidence surfaces.

For bettors and horseplayers following the story, the underlying lesson is a familiar one: wagering outcomes are never guaranteed, and information asymmetries like the one alleged here are exactly what integrity rules exist to prevent. Anyone following horse racing betting or entering handicapping contests should keep an eye on how HISA’s September hearings play out, since the outcome could reshape how confidential data access is monitored across the sport.

FAQ Questions

What is Marshall Gramm accused of?

HISA accuses Gramm of building an automated tool to pull confidential veterinary records on thousands of racehorses he had no legitimate connection to, then using that data while wagering, entering handicapping contests, and claiming horses.

Has Marshall Gramm been permanently banned from horse racing?

Not yet. He accepted a voluntary provisional suspension while the case proceeds, and it is not an admission of guilt. HISA has said it will seek severe sanctions, potentially including a lifetime ban, at hearings scheduled for September.

What is HISA?

HISA is the Horseracing Integrity and Safety Authority, a federally established body that sets nationwide safety and integrity standards for U.S. Thoroughbred racing.

Did Marshall Gramm admit to the allegations?

He has acknowledged being the source of past performance reports for two horses, Deterministic and Griffin’s Wharf, but disputes HISA’s fraud characterization, saying he used his own authorized credentials and did not bypass any safeguards.

What is Ten Strike Racing?

Ten Strike Racing is the horse ownership syndicate for which Gramm serves as managing or founding partner, and the entity through which several of the horses in question were claimed.

When will the Marshall Gramm case be resolved?

Two closed hearings are scheduled for September 14 and September 16, 2026, with a ruling expected roughly 70 days after charges were filed, based on typical HISA case timelines.