Kalshi is under a temporary restraining order that prohibits the prediction market from operating in Nevada, and a recent poll shows that Americans feel strongly that prediction platforms should comply with state gaming regulations.
New polling, commissioned by Gambling is Not Investing and conducted by Morning Consult, found that 81 percent of Americans believe that sports betting on prediction markets is gambling.
The poll, conducted from March 17-22 among 15,029 U.S. 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 requirements.
While the minimum age to use Kalshi is 18, the poll found that 77 percent of Americans say they are concerned that prediction markets that allow teenagers to bet on sports could increase gambling-related harm among young adults, compared with legal sportsbooks that require bettors to be 21.
Also, 73 percent of Americans say they believe describing sports bets as “event contracts,” “swaps” or “futures” makes it more difficult for consumers to recognize the financial risks involved.
“This polling confirms that unabated sports gambling on prediction markets is a growing concern across America,” said Mick Mulvaney, executive director of Gambling is Not Investing. “Prediction markets are trying to disguise their sports betting products as a financial investment, misleading Americans and dodging consumer safeguards like 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 sports event contracts that bypass 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 derivative markets and state-prohibited gambling” as one of eight priorities for lawmakers to consider in the next session.
Because sports wagering is not legal in Texas, there has been evidence that prediction markets have been gaining traction on 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 U.S. states and a court hearing Friday in Carson City may seal their prohibition in Nevada as gaming regulators seek an injunction against Kalshi to operate within the state.
Hard Rock promotes Las Vegas native
Las Vegas native Joseph Wagner was promoted to senior vice president and general manager of the Seminole Hard Rock Hotel & Casino Tampa, where he has worked since 2016, most recently as vice president and assistant general manager.
Wagner began his career in the hospitality industry at the Excalibur while he was a student at UNLV.
Gambling industry’s largest trade group loses another digital member
Bet365 has become the latest online operator to depart the American Gaming Association. The company said the AGA’s retail-casino emphasis no longer aligns with its digital-first strategy.
Bet365 will continue working with regulators across U.S. 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 leave the AGA in recent months, following DraftKings, FanDuel and Fanatics Betting and Gaming. Those companies exited after disagreements with the AGA over the emerging prediction-markets sector and have since launched event-contract products in multiple states. Bet365 is the only one of the four that has not 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, though its co-owners, Entain plc and MGM Resorts International, remain in the association. BetMGM executives 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 appointed 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 will retire 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 advance 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 go-to resource for media covering Atlantic City and South Jersey economics.
Interim business school dean William Minnis praised Bokunewicz’s leadership and called Tyrrell’s appointment “an exciting new chapter” for the institute.
Tyrrell previously taught at UNLV.
Contact reporter Todd Dewey at tdewey@reviewjournal.com. Follow @tdewey33 on X.
Contact David Danzis at ddanzis@reviewjournal.com or 702-383-0378. Follow @AC2Vegas_Danzis on X.