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Nevada Gaming Control Board outlines casino audit responsibilities

Regulation

Source: Nevada Gaming Control Board (NV)

The Nevada Gaming Control Board’s Audit Division says it audits Group I casinos, reviews other licensed gaming businesses for compliance and conducts special investigations. It reports that about 144 casinos currently fall into Group I, defined as casinos whose annual gaming revenue exceeds the applicable threshold. The division also says its professional staff numbers 92, with six clerical employees.

The overview describes the Board’s audit and compliance-review scope for Nevada casinos and other licensed gaming businesses.

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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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