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 The Securities and Exchange Commission on Thursday alleged that golfer Phil Mickelson made $931,000 after purchasing stock on an insider trading tip from sports gambler Billy Walters and then used some of the money to pay back Walters, to whom he allegedly owed money. And Mr. Walters, who was arrested at a resort in Las Vegas late Wednesday, was “gambling on a sure thing.” 
 
 The case, however, is much broader than a story about gambling debts. The SEC says a gambler named William Walters received tips and business information about Dean Foods Co. from former Dean Foods director Thomas Davis between 2008 and 2012. "Bill Walters is a true American success story, whose extraordinary accomplishments as a lawful sports gambler have been widely recognized and lauded," Walters attorney Barry Berke said in a statement provided to ESPN. Mr. Walters and his counsel look forward to his day in court where it will be shown that the prosecutors' accusations are based on erroneous assumptions, speculative theories and false finger-pointing."
– The Securities and Exchange Commission is filing a complaint against professional golfer Phil Mickelson related to insider trading, the AP reports. The SEC says gambler William Walters received tips and business information about Dean Foods Co. from Thomas Davis, former head of Dean Foods, between 2008 and 2012. The SEC says Walters called Mickelson, who owed him money, in 2012 and urged him to trade Dean Foods stock. The SEC says Mickelson did so the next day, buying 240,000 shares and making a profit of $931,000, per ESPN. He then used that money to pay Walters back his IOU a few months later, the SEC says. Mickelson's attorney told ESPN on Thursday that the golfer, who wasn't charged criminally, has made a deal with the SEC that involves him returning all money made from that trade—what the SEC refers to as "all ill-gotten gains in the form of illicit trading profits," per USA Today. Mickelson was not in the field at the AT&T Byron Nelson tournament in Irving, Texas, where play began Thursday morning. Walters, meanwhile, was arrested in Las Vegas Wednesday and charged with insider trading; he's set to appear in court Thursday. (The New York Times offers a more in-depth look, including more on Walters, often said to be the best sports bettor in the US.)