Source link : https://las-vegas-news.com/nevada-regulators-intensify-crackdown-on-prediction-markets-to-guard-betting-dominance/
Prediction Platforms Challenge Traditional Betting (Image Credits: Pixabay)
Nevada – State gaming authorities have launched aggressive legal actions against prediction market platforms, aiming to preserve the Silver State’s control over sports wagering amid a surge in these alternative betting venues.[1][2]
Prediction Platforms Challenge Traditional Betting
Prediction markets exploded in popularity over the past year, drawing bettors with contracts on diverse events from elections to sports outcomes. Platforms like Kalshi and Polymarket operate under federal oversight from the Commodity Futures Trading Commission, bypassing state gambling regulations.[3]
Users trade “yes” or “no” shares on future events, often with lower barriers to entry than Nevada’s licensed sportsbooks. This model has raised alarms in Las Vegas, where casinos generated billions in sports betting revenue last year. Regulators argue these platforms function as unlicensed sportsbooks when offering athletic event contracts.[4]
The Nevada Gaming Control Board first noticed Kalshi selling sports-related markets in early 2025, prompting initial cease-and-desist orders. Those efforts proved insufficient, leading to court filings.
State Strikes First in Court
Nevada shifted tactics in January 2026 by suing Polymarket in state court, seeking a permanent injunction to halt its operations within the state. The complaint accused the platform of illegal gambling without a gaming license.[1][2]
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Author : Matthias Binder
Publish date : 2026-02-15 12:53:00
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