Michigan’s Gaming Control Board warned sports betting operators that involvement in sporting event contracts could affect their Michigan licences. Its memo said the warning covered direct or indirect participation and that licensees must notify the board if they plan to offer such contracts.
Sportsbook operators considering prediction-market products face a stated risk to their Michigan licences.
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Michigan's Gaming Control Board said it is investigating sports prediction market platforms operating in the state. The regulator said the platforms are outside its framework and may expose consumers to risks including fraud, identity theft and inadequate data security.
Boomer’s Sportsbook CEO Joe Asher and Caesars Digital head Eric Hession discussed prediction markets before Nevada’s Gaming Control Board on 8 July. Asher said their impact could not be quantified, while Hession agreed they were affecting sportsbook profits; the board has asked a court to hold Kalshi in contempt over alleged non-compliance with an order restricting sports betting in Nevada, which Kalshi says it has complied with.
Michigan's online sportsbooks generated $30.8m in adjusted revenue in July, increasing 52.7% from June. Wagers declined 3% to $355.2m. The report noted that MGCB figures do not identify individual sports' contributions, preventing measurement of the World Cup's effect.
The Nevada Gaming Control Board advised licensed sportsbooks that offering sports or other event-based contracts could trigger suitability reviews or disciplinary action. It said sports-related contracts fall within state wagering jurisdiction regardless of whether a federal Commodity Futures Trading Commission-regulated exchange lists them. In Nevada, providers must hold a nonrestricted gaming licence with sports pool approval and meet applicable wagering requirements.
Nevada’s Gaming Control Board gave Boomer’s and Caesars tentative approval to open additional sportsbooks in the state, according to the report. The Nevada Gaming Commission was due to make the final decision later that month; proposed locations included three for Boomer’s and one for William Hill.