The NGCB, prediction markets and innovation: Open to discussion
Global Gaming Insider speaks with Nevada Gaming Control Board (NGCB) Chairman Mike Dreitzer, discussing prediction market regulation and how his prior experience helps steer his position.
How important is it for you to connect with other regulators, particularly from Europe? Do you find Nevada is a completely different kettle of fish and it’s almost not comparable?
Every jurisdiction has their own uniqueness, but also having said that, there’s a lot of commonality between jurisdictions. We are regulating and interested in many of the same areas. In addition to that, many of the licensees in Nevada are also licensees in many other jurisdictions. So, for those reasons, we often communicate on a regular basis and it’s good to connect with regulators from around the US and the world.
On the topic of prediction markets, there’s some enforcement finally on the way in Nevada, so how important do you feel it is for the state to set a regulatory example?
Well, as you correctly point out, we’re currently in litigation, so I can’t comment on that. But of course this is a big issue for us and we have taken the position that event contracts for sports are sports betting. As a result of that, they should be properly regulated by the state of Nevada and the other states which have online sports betting. We believe it’s a state issue and we’re moving forward in that way.
And how important is it for you to keep on top of what’s happening in states such as California, with the prevalence of sweepstakes and how it could affect Nevada?
Obviously illegal gambling takes a number of forms and is of interest to us. The sweepstakes development in other states is of interest to us, and it’s not just California. We certainly keep a careful and watchful eye on what goes on in all the states and around the world. That’s part of the job as a regulator and I’m sure they keep an eye on what’s going on in Nevada.
As you have watched what’s going on with sweepstakes with close interest, we of course watch what’s going on with illegal gambling and certainly have an interest to make sure illegal gambling is curtailed. It’s been a problem for a long time, illegal gambling, and it’s something we take a strong stance against. But for any form of gambling, we watch developments, we watch trends, that’s part of what the Gaming Control Board does in all jurisdictions.
We’ve covered a lot of commentary on Las Vegas over the past year, some of it being a bit doom and gloom, so I’m keen to hear how it feels on the ground from your perspective?
I actually think there’s a fair amount of positivity. We continue to see an increase in gross gaming win, which is certainly a good trend for us. Visitor volume is down – I think that’s been acknowledged. However, from what I understand and what I hear from our licensees and others, 2026 should be a very good year when you look at what’s coming. Around Las Vegas and around all of Nevada, there’s tremendous optimism. So we look forward to a very positive 2026 throughout the state.
Having been at the NGCB for a relatively short time, how much does your prior industry knowledge help in your current role?
To be a regulator, you can come from any number of backgrounds. Outstanding regulators in Nevada and elsewhere have come from all sorts of backgrounds, so I don’t think there’s one definitively that makes you a good regulator. I think it’s really good to understand the issues and to understand the people in the industry, which I do because I’ve been in the industry for over two decades. I think it has allowed me to hit the ground running with an understanding of very complex issues that face Nevada gaming and in general. It has helped to inform us and myself when working with the industry, and I think we’re off to a pretty good start.
We’re not anti-prediction markets. We’re pro new technology. If prediction markets were something somebody had an interest in bringing to the state, we would look at it and see if there was an ability to bring it in under current regulation
Is it helpful for you to be in contact with the operators themselves on a more regular basis, regarding visitor volume, pricing and hospitality?
I’ve known the industry, its entrants and participants for a long time. I have a regular dialogue with the industry about all sorts of topics and I think that helps to inform my ability in regulating the industry. I will go out and talk to the industry or accept discussions and meetings with the industry. I think it’s important to have as much knowledge as I can, which will help me faithfully execute and ensure that regulations and laws are being followed, and the policies are being presented in such a way that makes sense.
That’s the other thing, remaining consistent with Governor [Joe] Lombardo’s mandate. We are focused on regulating at the speed of business and, by that, I mean we have done a fair amount of improvement and change to the regulations in the State of Nevada and in gaming, because many of them had gotten older. It required an update and we want to do what we can to make regulation consistent, transparent and efficient while supporting the licenses in 2026. Certainly without taking any sort of shortcuts. Security and those sorts of things are important, but I think conversations and interaction with the industry helps make all of that possible.
What is the biggest challenge awaiting the NGCB in 2026?
There’ll always be several challenges, and it’s been described as a continuous project. The work never ends. Obviously, prediction markets are a big issue for Nevada but also other states as well. And then there’s talk that prediction markets will potentially go global. They have had event contracts in other jurisdictions for a long time, but the notion of expanding has been an interesting topic of discussion. Regulators and licensees from around the world want to learn more, so that’s been a big part of the conversation.
Money laundering remains a significant topic of interest. That has been a big topic in Nevada and it’s something we always want to continue to do better in terms of working with the licensees. Providing them with the tools they need and the information they need to make better decisions about players and whether or not they should allow certain players at their location. Those are two issues.
The other thing that’s important is gaming technology. We in Nevada have needed, over the last several years, to do a better job of offering transparency and consistency when it comes to adopting new game technology. We’ve overhauled those rigs as well and we have new leadership in the gaming lab. So the message to our licensees is bring new gaming technology to Nevada. We want to look at it and be able to offer it in our licensed casinos.
You mentioned prediction markets and their potential expansion; is it important to understand customer interest when deciding how to regulate certain offerings?
I’m not regulating for or against anything. I’m regulating faithfully to the statutes and regulations in the State of Nevada, so it’s not a for or against thing. Let’s be clear about that. The more knowledge we have about this topic, and any topic, the better we are able to faithfully regulate in accordance with the laws and regulations.
We’re not anti-prediction markets. We’re pro new technology. If prediction markets were something somebody had an interest in bringing to the state, we would look at it and see if there was an ability to bring it in under current regulation. That’s something we certainly would look at. I want to make it clear that we’re not saying we’re anti-prediction markets, we’re pro new technology and new ideas. We always need fresh ideas in the state of Nevada, so if there’s anybody who would like to engage in a meaningful dialogue and find ways to fit within our regulatory construct, prediction markets or anything they want to bring, that’s a conversation we would have. It’s definitely not a pro or anti thing, it’s just a question of working within the rules and regulations of the state.