Nevada's top gaming regulator has dramatically escalated its fight against prediction markets, issuing a formal notice that warns its own licensees they could
Nevada’s top gaming regulator has dramatically escalated its fight against prediction markets, issuing a formal notice that warns its own licensees they could face disciplinary action for any involvement with the controversial platforms. The NGCB warning, sent out on Wednesday, is a powerful “shot across the bow” to the entire industry and solidifies the state’s hardline stance.
The notice from the Nevada Gaming Control Board (NGCB) makes it unequivocally clear that it considers “event contracts” based on sports, elections, or other outcomes to be a form of wagering activity that falls under its exclusive jurisdiction. Crucially, the board stated this is the case regardless of whether the contracts are offered on an exchange regulated by the federal Commodity Futures Trading Commission (CFTC).
The most significant and potentially chilling aspect of the NGCB warning is its direct threat to the Nevada gaming license holders themselves. The notice warns that any licensee that offers these products or enters into partnerships with prediction market platforms-whether in Nevada, another state, or on tribal lands-could be subject to a suitability review or other forms of disciplinary action.
“ Offerings for Sports and Other Events Contracts may be conducted in Nevada only if the offering entity possesses a nonrestricted gaming license with sports pool approval in Nevada,” the notice stated, leaving no room for ambiguity.
This formal NGCB warning is the latest salvo in a multi-front war that Nevada has been waging against the prediction markets sector throughout 2025.
While the board’s official position and the public comments from members like George Assad are aggressive, the new NGCB Chair, Mike Dreitzer, has struck a more nuanced tone. Speaking at the Global Gaming Expo (G2E) last week, Dreitzer, a veteran of the gaming technology sector, said he wants to “foster innovation.”
“ We’re happy to have ’em here, but let’s figure out a way to get it in under our roof,” he commented, suggesting a potential path for these products if they submit to state gaming regulation.
However, for now, the official line is one of prohibition. The NGCB warning is a powerful move that forces a clear choice on any Nevada gaming licensee: steer clear of the entire prediction markets space, or risk putting your core Nevada business in jeopardy.
