Caesars Digital president Eric Hession said the growth of untaxed sports prediction markets could encourage US states to legalise and tax online casino gaming. He also said Caesars is waiting for legal clarity before deciding whether to enter prediction markets.
Hession’s comments signal that prediction-market rules and state iGaming policy may affect Caesars’ competitive options.
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RSI CEO Richard Schwartz said states could legalise online casino gambling at an accelerated rate. He linked the possibility to states seeking ways to replace sports-betting tax revenue that prediction markets might displace.
The National Council of Legislators from Gaming States elected Al Williams as president at its recent Summer Meeting in San Diego, after he had served as vice-president. Williams said prediction markets needed regulation and that the organisation would continue addressing gaming policy, operator practices and minors’ access to gambling.
It was reported that BetMGM is retreating from states without iGaming as prediction markets affect its business. CEO Adam Greenblatt said the company continues to focus on higher-value, higher-staking players.
New York sports teams have entered prediction-market partnerships while state officials treat sports-event contracts as unlicensed wagering, according to the report. Polymarket partnered with the Yankees on 6 August, Novig became the Mets’ exclusive prediction partner on 30 July, and Kalshi has a multiyear partnership with Madison Square Garden announced in May. The report says officials have not stated whether these partnerships breach the advertising prohibition.
The CFTC said on 5 November that registered designated contract markets must remove domestic geographic restrictions that conflict with its fair-access requirements within 30 days. Exchanges must also ensure partner intermediaries comply, or explain in writing why they cannot; the guidance comes amid state court orders requiring restrictions in several states.
The CFTC said on 5 November that registered prediction market operators must unblock geoblocked states within 30 days. Under its new interpretative guidance, designated contract markets that cannot comply may instead explain in writing why they cannot.