A Las Vegas casino abruptly canceled a prediction market conference due to concerns it might attract scrutiny from Nevada gambling regulators. This is according to a report.
Predict 2026 was scheduled at the Aria on the Strip. However, the MGM-operated resort canceled the booking days after signing the agreement.
‘The [Aria] is issuing this notice in light of Nevada’s current regulatory and enforcement position regarding prediction markets,’ a lawyer for the resort wrote in a termination letter cited by Barron’s.
A Kalshi spokesperson criticized the decision, calling it an example of “monopolies at work.”
Dispute Details
The dispute shows increasing conflicts between state gambling regulators and prediction market companies like Kalshi and Polymarket. These companies let users bet on many different event results.
Nevada regulators have taken a tough stance on the quickly growing sector. They say some sports-event contracts are unlicensed bets. These avoid state gaming rules and taxes.
Last October, the Nevada Gaming Control Board warned casino license holders about ties to prediction market operators. They said these ties could affect their eligibility for gaming licenses.
“If a Nevada license holder decides to offer Sports and Other Event Contracts in Nevada or works with others who do, the Board will take this into account when deciding if the entity can keep its Nevada gaming license,” regulators said in the guidance cited by Barron’s.
Although Predict 2026 was not sponsored by any prediction market company, Aria’s legal notice showed that regulators were concerned even about indirect promotion of the industry.
Aria Casino History
The Aria opened in 2009 and is operated by MGM Resorts after its 2021 sale to Blackstone. However, it did not immediately respond to a request for comment.Meanwhile, this dispute highlights the increasing gap between traditional casino operators and new companies in the prediction market field.
Established gaming companies like MGM Resorts and Caesars Entertainment have mostly stayed away from prediction markets, while companies like DraftKings have started platforms to compete with businesses like Kalshi.
Prediction market operators say their event contracts are financial products. These are regulated by the federal Commodity Futures Trading Commission. Therefore, this lets them operate across the country for users over 18.
However, some state gaming regulators say sports-related contracts are very similar to sports betting and should follow state gambling laws. Nevada officials have already initiated legal action against Kalshi.
The Nevada Gaming Commission sued the company over its sports event contracts, and the platform was briefly barred from operating in the state earlier this year, according to Barron’s.
Eric Butler is a Contributor for Dice City Sports. You can follow him on Instagram and X via @ReportandOpine
