Perhaps no disruptor is bigger in the gaming industry right now than predictive markets.
Online platforms—where users wager on everything from football games to election outcomes—have stirred controversy for how they skirt state regulations that traditional gaming companies must follow. Companies like Kalshi and Polymarket dominated the conversation at last month’s Global Gaming Expo — they’ll have their own dedicated conference on November 3-5 in Las Vegas — and now they’re tying up multiple circuits of the U.S. Court of Appeals.
The Nevada Gaming Control Board initiated the state’s ban on those companies, which have appealed the move. Forty-three other states also have ongoing litigation against them. The issue is expected to reach the U.S. Supreme Court, where gaming reporter and CDC Gaming contributor David McKee says anything can happen.
“The Supreme Court is gets to play “Let’s Make a Deal” because behind door number one you have the Third Circuit, which says prediction markets are strictly the province of federal government regulation,” McKee said.
