MGM chief tells Nevada commission prediction markets should face sportsbook rules
MGM Resorts International chief executive Bill Hornbuckle told the Nevada Gaming Commission that sports-event prediction markets should be regulated and taxed like sports betting. He said recent state guidance gave direction to Nevada-licensed operators; regulators have warned that offering sports-event contracts could put a company’s gaming status at risk, including when activity takes place outside the state.
The position and regulatory warning affect how Nevada-licensed operators assess participation in sports-event prediction markets.