Nevada Regulator Fights CFTC Market Prediction Rules
By The Weekly Edge desk ·
Summary
Nevada Gaming Control Board Chairman Mike Dreitzer said on 14 October, during an Indian Gaming Association webinar, that sports event contracts are effectively the same as ordinary sports bets. He rejected prediction market arguments about peer-to-peer trading, price discovery and early exit, and raised concerns over 18-year-olds being allowed to take part. His comments follow two CFTC proposals: one extending the swap definition to event contracts, and an interim final rule excluding casino-style gambling, with comments due within 30 days of Federal Register publication.
Why it matters
Nevada’s objection over sports event contracts and underage participation adds pressure to the debate over CFTC rules.