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Nevada Gaming Control Board lets casinos round cash-outs to five cents

Regulation

The Nevada Gaming Control Board told licensees they may round cash-outs up or down to the nearest five-cent increment as penny supplies diminish. Casinos must disclose their policy, and operators may deduct rounding-related amounts from state gaming revenue if they document the deduction, the Board’s tax and licence division chief said.

Nevada casino operators must choose and disclose a rounding practice and document any related revenue deduction.

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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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