The post Nevada Gambling Regulator Issues Warning on Prediction Market Activity appeared first on Vegas Slots Online News.
Gambling regulators across the US are wary about the growing popularity of prediction market platforms like Kalshi and Polymarket. The Nevada Gaming Control Board (NGCB) is the fourth state to warn licensees about entering the prediction space.
In a notice to licensees dated October 15, the NGCB explained that it views contracts as a form of sports betting. It also considers betting on esports, political markets, and awards like the Oscars as falling into the same category.
any licensees getting involved in the space will be subject to discipline
The NGCB warned that any licensees getting involved in the space will be subject to discipline, and even offering contracts in another state might “call into question the good character and integrity” of the licensee.
Regulators in Ohio, Michigan, and Arizona have also warned operators about straying into the prediction sector. This is despite officials at major brands like FanDuel owner Flutter and DraftKings saying in recent months that they’re currently exploring possible opportunities in the vertical. State gambling regulators believe prediction market platforms should fall under their purview, rather than being overseen federally by the Commodities and Futures Trading Commission (CFTC).
The post Nevada Gambling Regulator Issues Warning on Prediction Market Activity appeared first on Vegas Slots Online News.
