With Nevada sports wagering volume down $249 million so far in 2026, a veteran bookmaker Wednesday railed against prediction markets for stealing market share among Nevada’s sportsbooks. The head of Caesars Digital agreed, saying there’s no doubt these operators are eating into profits.
Hall of Fame bookmaker Joe Asher, CEO of Boomer’s Sportsbook, and Eric Hession of Caesars were asked about the hot topic in the sports betting industry when they appeared before the Nevada Gaming Control Board on matters pertaining to their sportsbooks expansions.
Nevada has been locked in legal battles to exclude Kalshi, Polymarket, and other prediction markets from operating in the state. Arguing Kalshi has taken hundreds of millions of dollars in wagers on the World Cup and the NBA and Stanley Cup finals, the Nevada Gaming Control Board has asked a district court to hold the prediction market operator in contempt, alleging it hasn’t complied with a May 18 judicial order against offering sports betting in the state. Kalshi contends it has complied.
In the latest report from the Gaming Control Board for May, Nevada sportsbook wagers totaled $545.7 million, down 5.4% or $31.1 million compared to last May, when $576.8 million was wagered statewide. Mobile wagers totaled $409.8 million, down 3.1% or $13 million.
In April, sportsbook wagers totaled $525.1 million, down 15.1% or $93.7 million compared to last April, when $618.7 million was wagered statewide. Mobile wagers totaled $397.9 million, down 17.6% or $85.1 million. In March, wagers totaled $763 million, down 11.3% or $97.6 million compared to last March, when $860.6 million was wagered statewide. Mobile wagers totaled $550.4 million, down 10.1% or $61.9 million. In February, sportsbook wagers totaled $579.6 million, down 4.1% or $24.7 million compared to last February when $604.3 million was wagered statewide. Mobile wagers totaled $412.8 million, up 4.1% or $16.2 million. In January, sportsbook wagers totaled $795.2 million, down 0.2% or $1.8 million compared to last January, when $797 million was wagered statewide. Mobile wagers totaled $562.5 million, up 5.4% or $28.6 million.
Board member George Assad asked Asher about the impact from prediction markets. “To me, if people couldn’t bet with prediction markets, especially in Nevada, they’d be betting with you and other operators,” Assad said.
Asher said there’s no way to quantify the percentage, but “of course, there has to be an impact from the prediction markets.”
Asher said he’s followed the news about the legal proceedings occurring in Nevada and pointed out he knows of at least two instances of people betting on Kalshi, even though there was a court order against allowing them to take wagers.
“There was a guy literally sitting next to me at dinner with a guy from California, who pulled out his phone and placed a bet while we were sitting there,” Asher said. “Another guy who lives in Las Vegas went into the app, just changed his address to one in California, and was able to place a bet.”
Asher appeared upset when he described going into the Apple app store on his phone, searched the Boomer’s Sportsbook app, and an ad for Kalshi popped up. He did the same in a search of the William Hill app and also got a Kalshi ad.
“That’s within the last week or two after they’ve been ordered to stop doing business in Nevada,” Asher said. “So much for respect of the rule. The actions speak for themselves. I have the screenshot on my phone and would be happy to share them with anyone who wants to see them.
“Is it having an impact in Nevada? Of course it is. They’re advertising in Nevada,” Asher said as he raised his voice. “We all remember during the Super Bowl when Kalshi had that big screen at the intersection at Las Vegas Boulevard and Harmon. Even after the court ordered them to stop, they continued to offer their services in Nevada.”
Assad, a former judge, said all Nevada can do for now is rely on the courts.
Caesars operates sportsbooks in 32 states other than Nevada and its top digital executive was asked by Board Chair Mike Dreitzer about the impact from prediction markets nationwide.
“I have lots of thoughts,” Hession said, laughing. “I think at a high level it has to be impacting us from a volume perspective. Regulated states report the sportsbook growth in volume has slowed a bit. We’re not seeing a significant impact to our revenue line yet, but it’s hard to tell. Our industry was growing 10% to 15% and we’re still growing, but less. How much of that is attributed to prediction markets is unclear, but it has to be some amount.
“The bigger impact is (prediction markets can) operate with a big competitive advantage. They don’t have to pay taxes. They don’t have to comply with regulations. They can target 18-year-olds,” Hession said. “Whatever the outcome is, eventually there will be defined rules and we’ll be able to participate. Unfortunately, we’re falling behind quickly in states that are allowing competitors to get ahead of us.”
