Kalshi is under a temporary restraining order banning the prediction market from operating in Nevada, and a recent poll shows that Americans feel strongly that prediction platforms should follow state gaming rules.
New research, commissioned by Gambling is Not Investing and conducted by Morning Consult, found that 81 percent of Americans believe sports betting on prediction markets is gambling.
The survey, conducted March 17-22 among 15,029 American adults, also found that 81 percent of Americans say prediction market platforms should comply with state gaming regulations, including age restrictions, tax structures and problem gambling.
While the minimum age to use Kalshi is 18, the survey found that 77 percent of Americans say they are concerned that prediction markets that allow teenagers to bet on sports could increase gambling-related injuries among young adults, compared to legal sportsbooks that require players to be 21.
Additionally, 73 percent of Americans say they believe describing sports betting as “event contracts,” “swaps” or “futures” makes it harder for consumers to understand the financial risks.
“This survey confirms that rampant sports betting in prediction markets is a growing problem across America,” said Mick Mulvaney, executive director of Gambling is Not Investing. “Prediction markets attempt to disguise their sports betting products as a financial investment, mislead Americans and evade consumer protections such as age requirements.
“Let’s face it, if it quacks like a duck, it’s sports betting.”
Gambling is Not Investing is a coalition committed to stopping prediction markets from offering unsafe and unregulated sporting event contracts that circumvent state and tribal laws.
Texas Prediction Market
The Texas Legislature has been asked to study prediction markets as a legislative priority for the 2027 session.
Lt. Gov. Dan Patrick, a staunch critic of gambling, listed a study of “the relationship between federally regulated derivatives markets and state prohibited gambling” as one of eight priorities for lawmakers to consider in the next session.
Because sports betting is not legal in Texas, there has been evidence that prediction markets have gained traction for sports outcomes in the Lone Star State even as casino advocates have unsuccessfully worked to legalize casino gambling at integrated resorts in major Texas cities.
Prediction markets have been under fire in several US states and a court hearing on Friday in Carson City could seal their ban in Nevada as gambling regulators seek an injunction against Kalshi from operating within the state.
Hard Rock promotes Las Vegas natives
Las Vegas native Joseph Wagner was promoted to senior vice president and general manager of Seminole Hard Rock Hotel & Casino Tampa, where he has worked since 2016, most recently as vice president and assistant general manager.
Wagner began his hospitality career at Excalibur while a student at UNLV.
The gaming industry’s largest trade group is losing another digital member
Bet365 has become the latest online operator to leave the American Gaming Association. The company said AGA’s retail casino focus is no longer aligned with its digital-first strategy.
Bet365 will continue to work with regulators in the US markets, the company said. The AGA said the change is not new but declined to clarify when the exit occurred.
Bet365 is the fourth online-focused operator to exit the AGA in recent months, following DraftKings, FanDuel and Fanatics Betting and Gaming. These companies left after disagreements with the AGA over the emerging prediction market sector and have since launched event contract products in several states. Bet365 is the only one of the four not to have announced plans for a prediction markets product.
All four operators belong to the Sports Betting Alliance. The group’s fifth member, BetMGM, is not an AGA member, although its shareholders, Entain plc and MGM Resorts International, remain in the association. BetMGM bosses have repeatedly said they will not enter prediction markets until the legal landscape is settled.
New LIGHT director at South Jersey college
Stockton University has named Brian Tyrrell as the next director of the Lloyd D. Levenson Institute for Gaming, Hospitality and Tourism (LIGHT), effective July 1. Tyrrell will succeed longtime faculty leader Jane Bokunewicz, who is retiring June 30.
Tyrrell, a two-decade faculty member in Stockton’s Hospitality, Tourism and Event Management program, previously helped establish LIGHT and served as interim director of its predecessor research center. He said he plans to expand industry partnerships and promote research tied to Atlantic City’s gaming, hospitality and tourism sectors.
Bokunewicz, who has led LIGHT since 2020, oversaw the launch of the International Journal of Gaming, Hospitality and Tourism, new industry certificate programs, more than 20 webinars and the Atlantic City Casino Industry Impact Report in partnership with the Casino Association of New Jersey. She also positioned the institute as a resource for media covering Atlantic City and South Jersey’s economy.
Interim business school dean William Minnis praised Bokunewicz’s leadership, calling Tyrrell’s appointment “an exciting new chapter” for the institute.
Tyrrell previously taught at UNLV.
Contact reporter Todd Dewey at tdewey@ theplayerlounge.com. Follow @tdewey33 on X.
Contact David Danzis at ddanzis@ theplayerlounge.com or 702-383-0378. Follow @AC2Vegas_Danzis on X.
