"I've never heard of "magic the gathering" - what is it?"
It is an immensely popular role-playing/card game of the Pokemon/Yugi-Oh variety, but is fairly more complex and has quite a large following.
Of course "MAGIC THE GATHERING" is their trademark for the game. So, unless one has been living in a cave for several years, it is hard to imagine what motivates a question of the form, "I registered someone's trademark as a domain name. Is there a legal issue?"
"wow, how about this one without mispelling ? "
Uh, let's see... when faced with a decision relating to mis-spelling, the question is "My domain name is identical to their trademark, instead of being confusingly similar to their trademark?" Do you really need an answer to that question?
That's sort of like finding out that it is against the law to injure someone and asking, "But what if I kill them?"
Now, you could ask "Is it illegal to kill someone?" No, it is not illegal to "kill someone". Whether it is legal to kill someone depends on the reasons why you killed them. Were you a soldier in battle? Are you the state's executioner? Were they trying to kill you? "Murder" is illegal - "killing someone" is not.
Now "killing someone" is part of the overall picture of what is generally defined as "murder", but as you can see, there is more to it than that.
Cybersquatting is similar... "registering someone's trademark as a domain name" is a part of what constitutes cybersquatting. Whether or not it *is* cybersquatting in any particular case depends on your motivation and reasons for doing it, among other things.