Las Vegas Casino Cancels Prediction Market Conference

A Las Vegas casino canceled its agreement to host the Predict 2026 conference days after signing the contract. The MGM-operated Aria resort on the Strip issued the termination citing Nevada's current regulatory and enforcement position regarding prediction markets.

The resort's lawyer wrote in the termination letter that the cancellation came in light of that position, according to a report. Predict 2026 had been scheduled for the Aria before the booking was ended. The Nevada Gaming Commission sued the company over its sports event contracts.

The platform was briefly barred from operating in the state earlier this year.

Nevada regulators have taken an aggressive stance toward prediction markets. They argue that some sports-event contracts resemble unlicensed wagering that bypasses state gaming rules and taxes. In guidance cited by the report, regulators said that if a Nevada licensee chooses to offer sports and other event contracts in Nevada or decides to partner with other entities offering such contracts in the state, the board will consider these developments as it evaluates the suitability of the entity to maintain a Nevada gaming license.

The dispute highlights tensions between state gambling regulators and prediction market firms such as Kalshi and Polymarket. Those platforms let people bet on the outcomes of various events.

Prediction market operators state that their event contracts are federally regulated financial instruments overseen by the Commodity Futures Trading Commission. This allows them to operate nationwide for users over 18. Some state gaming regulators have argued that sports-related contracts closely resemble sports betting and should fall under state gambling laws.