You're prohibited from running it in a VM, and at least some law schools have the students sign some form under penalty of the school ethical code yadda yadda that you won't do that.
(And then— some students do it anyways, because thats the only way to use it on their otherwise non-supported system or because of some other incompatibility. And nothing comes of it... I guess until something does. Better not make too many enemies)
A friend in law school to explained that this software is used for in-classroom exams and prevents any other programs from being used while a student is taking the exam, as well as saving all the work incrementally (in case the computer crashes).
It's certainly not the most secure thing to do, but they need to focus on studying law, not securing systems. I imagine that when lawyers are working on cases, they might end up using more secure devices than their old college laptops.
(And then— some students do it anyways, because thats the only way to use it on their otherwise non-supported system or because of some other incompatibility. And nothing comes of it... I guess until something does. Better not make too many enemies)