AGA and tribal leaders use G2E to attack prediction markets

The American Gaming Association (AGA) and tribal leaders said at the Global Gaming Expo (G2E) in Las Vegas on 7 October 2026 that prediction markets constitute an existential threat to the regulated industry. Senior voices — including the Indian Gaming Association (IGA), the chief executives of Caesars and MGM Resorts International, and state and tribal leaders — sharply criticised prediction market operators and Commodity Futures Trading Commission (CFTC) chair Michael Selig.

AGA and tribes: prediction markets are an “existential threat”

Bill Miller, president and CEO of the AGA, called prediction markets “a generational adversary that poses an existential threat” and said on the main stage that “at the AGA we are operating in a wartime footing”. He described those platforms as “predatory, untaxed and unregulated organisations” that present themselves as investment sites.

Miller framed the conflict as “good versus bad” and emphasised numerical and impact comparisons: “One contributes $18bn to states and communities. One respects state laws. One respects tribal sovereignty. One invests billions in responsible gambling.”

Jason Giles, chief executive of the Indian Gaming Association, read passages from the Sixth and Ninth Circuit Court of Appeals opinions to argue that jurisprudence tends to favour the states. Giles and other speakers noted that federal courts have ruled against prediction markets in 15 consecutive decisions and that states have prevailed in 40 of 45 rulings to date.

The joint AGA–IGA message against prediction markets

The session titled “The Power of Unity: Confronting the Prediction Markets Challenge Session” brought together Miller, David Bean (chair of the IGA) and Jason Giles to present a coalition between the AGA and the American Indian community. According to the speakers, prediction market operators signal to states and tribes that “your laws don’t matter, your regulators don’t matter, your tax structure doesn’t matter, your sovereignty doesn’t matter.”

James Siva, chair of the California Nations Indian Gaming Association (CNIGA), said prediction markets “are losing because what we are doing is right and what we have built is too important for money to decide”.

Traditional casino CEOs take a public stance

In the “CEO Outlook” session CNBC correspondent Contessa Brewer asked Tom Reeg, CEO of Caesars, and Bill Hornbuckle, CEO of MGM Resorts International, directly about prediction markets. Hornbuckle said the casual attitude of some leaders of those operators “is hurting the industry, period”. He added that those platforms allow user bets from 18 years old in several states, including jurisdictions such as Utah where betting is not legal.

Tom Reeg said that event markets had allowed wagering on whether Caesars would be acquired by Fertitta Entertainment in 2026, and said: “There was nothing in their rules that prevented me from betting [on that market], which is astonishing.” Reeg added that he is concerned the lack of regulation during this interim period could harm all operators, regulated or not. “The fig leaf of ‘this is a swap’ is simply ridiculous,” he said.

Craig Billings, CEO of Wynn Resorts, attended the session but did not make a notable on-stage statement on this issue during the cited interventions.

State regulators and Nevada show public rejection

Mike Dreitzer, chair of the Nevada Gaming Control Board (NGCB), said on another panel that “the conclusion is that crime and deception are not innovation, and that is what we have here”. The absence of prediction market industry representatives at G2E left the narrative dominated by unified criticism from the regulated sector.

Miller launched direct attacks on the CFTC and its chair Michael Selig, whom he called “a nitwit” and “the most dangerous man in gaming”. He claimed the CFTC has reinterpreted the Commodity Exchange Act in a way that favours prediction platforms, and that the AGA and its allies will continue to press the case in courts and in public opinion.

“Their best days are behind them, their house of cards is falling apart,” Miller said of prediction market operators, adding that “the only way we lose is if we take our foot off their throats.” — Bill Miller, AGA

State of litigation and commercial presence of the platforms

Panelists reviewed the legal landscape: multiple lawsuits against prediction market operators and the CFTC are ongoing, with the possibility of a Supreme Court case. Despite the legal fight, platforms continue to offer sports trading products across most of the United States.

The article noted that known online wagering operators — DraftKings, Fanatics and FanDuel — launched prediction market products late in 2025 and have scaled them since. casino representatives positioned that expansion as an element that erodes state regulatory frameworks and tribal sovereignty.

Practical consequences for regulated operators and regulators

The unified rhetoric at G2E points to two avenues: continue litigation pressure and strengthen the argument before state legislators and regulators. Executives present said the regulated sector will intensify public messaging on tax differences, consumer protection and respect for tribal sovereignty. For operators and B2B suppliers, the sector reaction indicates that the legal and regulatory debate will remain an operational factor in 2027.

For readers tracking public policy developments and future regulatory measures, the G2E narrative makes clear the conflict is unresolved and that filings and appeals will continue to set the pace in coming months. The issue is moving toward a high-level judicial resolution while prediction markets maintain commercial presence across broad parts of the country.