Nevada gambling regulator not surprised by CFTC’s rulemaking on prediction markets
By The Weekly Edge desk ·
Summary
Nevada Gaming Control Board Chairman Mike Dreitzer said the CFTC's latest move on prediction markets was expected, as the agency proposed treating event contracts as swaps while carving out casino-style gambling. He rejected the idea that sports event contracts differ from online sports bets, arguing that peer-to-peer, price-discovery and exit-a-position claims do not change their nature. The same day, Kalshi sought a rehearing at the Sixth Circuit after losing a unanimous ruling against Ohio and Tennessee regulators.
Why it matters
Regulators and operators face dispute over whether sports event contracts are meaningfully different from online sports bets.