Nevada regulator challenges prediction markets’ innovation claims
By The Weekly Edge desk ·
Summary
Nevada Gaming Control Board chairman Mike Dreitzer and Indian Gaming Association executive director Jason Giles questioned prediction-market companies’ claims that their sports-event contracts are innovative, reported by CDC Gaming. Dreitzer said companies must obtain a Nevada licence and argued that allowing 18-, 19- and 20-year-olds to wager in states where it violates penal codes is not innovation. Attorney Scott Crowell said the Indian Gaming Regulatory Act governs activity on Indian lands; Alabama-Quassarte Chief Samuel Marshall Jr. denied a partnership announced on October 7.
Why it matters
The comments raise licensing and tribal-law questions for prediction-market operators and tribes considering agreements with them.