Nevada Regulator Not Planning For Supreme Court Loss On Prediction Markets
By The Weekly Edge desk ·
Summary
Nevada Gaming Control Board Chairman Mike Dreitzer said on a podcast that prediction market operators such as Kalshi are running illegal sportsbooks, and that Nevada has no fallback plan if the Supreme Court sides with them. He urged tribes and licensees to hold firm, even though several tribes have partnered with Kalshi this month. The comments followed a CFTC interim rule of 9 October excluding casino-style gambling products from the definition of a swap, alongside a proposed rule covering event contracts.
Why it matters
Nevada has no fallback plan if the Supreme Court sides with prediction market operators, leaving its stance uncertain.