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Nevada Gaming Control Board details casino audit procedures

Regulation

Source: Nevada Gaming Control Board (NV)

The Nevada Gaming Control Board’s Audit Division says it audits all nonrestricted Group 1 licensees about once every three years, without advance notice. Auditors request access to casino areas at the opening, and licensees are usually expected to provide requested records within 10 calendar days; audits may take weeks or months.

Nevada casino licensees can use the guidance to prepare for unannounced audits and records requests.

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Nevada Gaming Control Board questions CFTC’s prediction market rules

Nevada Gaming Control Board Chairman Mike Dreitzer said he expected the CFTC’s move. The agency proposed defining event contracts as swaps while excluding casino-style gambling, including sportsbook wagers and casino games. Dreitzer said sports event contracts and online sportsbook bets are the same, while Kalshi filed for a rehearing after losing a unanimous ruling against Ohio and Tennessee regulators.

Nevada's chief gaming regulator said he expected the Commodity Futures Trading Commission to push ahead with its prediction-market overhaul. Mike Dreitzer, who chairs the Nevada Gaming Control Board, told the Indian Gaming Association's weekly webinar on Wednesday that the agency has been acting in concert with designated contract markets. He called the line the CFTC draws between event contracts and sportsbook wagers "an untenable distinction without a difference." The commission released two proposals late last Friday, one of which would classify event contracts as swaps under federal law and bar traditional gambling.

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