Nevada gaming regulator Dreitzer calls sports event contracts 'scams'
Nevada Gaming Control Board Chairman Dreitzer attacked sports event contracts in a Thursday, October 15, 2026 webinar, calling them 'scams' and dismissing price discovery as 'a fictional notion.' He separately called the CFTC's swap rules for event contracts 'untenable.' The remarks label prediction market products as criminal and signal hostile state-level pushback from a key gambling jurisdiction against federal oversight.
Dreitzer's attack gives state attorneys general a powerful ally from the most influential U.S. gaming jurisdiction. Nevada's stance validates the gambling-framing suits already stripping Kalshi's federal preemption shield in Ohio and Tennessee. Each new state voice weakens the CFTC's argument that its registration alone controls the field.
Kalshi and Polymarket now face four-front pressure: federal rule comments, circuit appeals, state court defense, and hostile state regulators who can block expansion into their markets. A Nevada policy formalizing Dreitzer's stance would become the template other states adopt. The first platform to lose another major state case sets the compliance bar every competitor races to clear.
Adds Nevada's top gaming regulator to the hostile state voices already stripping Kalshi's federal preemption shield in Ohio and Tennessee, as the CFTC's pending swap-rule proposal remains in White House review slower than courtroom clocks where platforms are losing.