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I’ve interviewed Chris Christie a number of occasions about his efforts in sports activities betting’s fast progress throughout the U.S. Ironically, a quirk in U.S. Supreme Court guidelines saved his title off the choice. He was now not governor when the case was determined, and Gov. Phil Murphy grew to become the plaintiff within the case.
As New Jersey’s governor, Chris Christie led the profitable authorized problem that culminated within the U.S. Supreme Court permitting all states — not simply Nevada — to legalize and regulate sports activities betting.
The American Gaming Association (AGA) is now turning to Christie so as to add firepower to the continued combat with prediction markets to guard a authorized sports activities betting trade that has expanded to 40 states and Washington, D.C., and produced income of greater than $13.7 billion in 2024.
His presence may additionally assist in the practically two dozen federal lawsuits filed by states and tribal gaming authorities that need to block prediction markets from providing sports activities wagering contracts of their jurisdictions.
In an interview with CNBC reporter Contessa Brewer, Christie mentioned he believes prediction markets equivalent to Kalshi, Polymarket and Crypto.com, which supply sports activities contracts — the time period firms use to explain the enterprise — are unlawful as a result of they aren’t regulated by a state gaming company.
Christie mentioned prediction markets usually are not solely bypassing gaming authorities in states that permit sports activities betting, however they’re “flouting state law” in markets that haven’t legalized the exercise, together with California and Texas.
In a press release to The Nevada Independent, AGA spokeswoman Dara Cohen mentioned Christie will present strategic recommendation to the Washington, D.C., commerce group.
“He brings significant expertise and a strong understanding of the legal framework around state and tribal authority,” she mentioned.
During October’s Global Gaming Expo in Las Vegas, AGA CEO Bill Miller referred to as prediction market operators “free riders” who “thumb their nose” at state and tribal gaming regulation.
In an end-of-the-year message to the AGA’s membership, Miller mentioned the commerce group’s place hasn’t modified: “Sports event contracts are gambling, and gambling is regulated by states and tribes. In 2026, we will continue to defend this framework and uphold state authority and tribal sovereignty.”
Christie performed a crucial half in getting the Professional and Amateur Sports Protection Act overturned by the nation’s highest courtroom in May 2018. That choice allowed states to decide on in the event that they wished to supply authorized sports activities betting.
“The states have occupied the space to regulate sports gambling,” Christie informed CNBC. “They were given the opportunity to do that … in a case that I fought six years to bring to the U.S. Supreme Court and won. It’s been done in a way that is regulated and monitored to make sure that the integrity of the game is protected.”
Christie’s hiring adopted the discharge of a analysis report on prediction markets by gaming trade advisory agency Eilers & Krejeck, which discovered {that a} mature trade may exceed $1 trillion in annual buying and selling quantity over the subsequent few years.
Eilers & Krejcik Managing Director Chris Krafcik, who authored the report, mentioned upward of 44 % of the buying and selling quantity associated to the prediction markets could possibly be tied to sports activities contracts, “larger than financial markets or politics.”
“Prediction markets could become an important catalyst for reshaping both the betting and trading industries, and may increasingly blur the line between the two,” Krafcik wrote. “But myriad patches of risks, unknowns, and uncertainties are strewn across the path from here to there.”
Krafcik mentioned the figures had been “highly speculative” and that money movement could possibly be wherever from 25 % to 45 % of the contracts.
Nevada has one of many courtroom circumstances winding their approach by way of the federal judicial course of, with specialists predicting {that a} authorized treatment won’t be in place till later this 12 months.
In November, a federal decide ordered Kalshi to cease providing sports activities contracts in Nevada after ruling in favor of gaming regulators who filed a cease-and-desist order. The choice is being appealed.
Robinhood, one other prediction market in a authorized tussle with Nevada, agreed to stop providing sports activities occasion contracts within the Silver State pending additional authorized proceedings.
Also, sports activities betting leaders DraftKings and FanDuel introduced plans to launch prediction market operations, however would keep out of Nevada.
Commercial casinos nationwide mixed for a file $71.9 billion in gaming income in 2024, based on the AGA. Through October, nationwide gaming income was $64.3 billion, which included $13 billion from sports activities betting. It’s anticipated that new annual data shall be set when the final three months of 2025 are included.
Citizens Bank gaming analyst Jordan Bender informed buyers Monday to “buckle up” as a result of prediction markets will “dominate the conversation” over the subsequent few months, given the calendar contains the NFL playoffs, Super Bowl LX, the Winter Olympics and the NCAA’s March Madness males’s and girls’s basketball tournaments.
“We are living through the wild, wild west with no proper regulation as companies across the gaming, media, and [financial technology] spaces are trying to grab any slice of the pie at this point,” Bender wrote.
Strip casinos have a tough November, however 2025 ought to finish on an honest be aware
Absent a fortunate streak on the tables by National Finals Rodeo followers or New Year’s Eve clients, December’s gaming income whole ought to hold Strip casinos on the constructive aspect of the ledger when 2025’s outcomes are counted later this month.
Strip gaming income is up lower than 1 % by way of the primary 11 months of 2025. In November, big-spending baccarat gamers — on the town for the Formula One Las Vegas Grand Prix — gained on the tables, driving down year-over-year income on the sport by nearly 6 %.
It would take a horrible December efficiency by casinos to ship the state’s largest gaming market to a second consecutive annual decline.
Strip on line casino income has been a blended bag all 12 months — will increase in six months and 5 months on the detrimental aspect. January’s $840 million whole was the Strip’s second-highest all-time income mark. A month later, Strip income fell nearly 14 % in comparison with February 2024, when Las Vegas hosted Super Bowl LVIII.
Gaming analysts cited pricing issues and worldwide tourism declines as affecting the Strip all through 2024.
“Visitation metrics and Strip RevPar [revenue per available room] are still soft,” Truist Securities gaming analyst Barry Jones mentioned, citing an 8 % drop within the metric utilized by the funding group to gauge profitability.
Strip visitation has fallen 11 straight months and is down greater than 7 %, which features a 5 % drop in November, based on the Las Vegas Convention and Visitors Authority.
Special occasions helped fill Strip resort rooms, however not sufficient to sway visitation figures. The Strip noticed 3.14 million guests, a 5.2 % drop, even with the massive SEMA auto trade commerce present, three days of the Las Vegas Grand Prix, and three Las Vegas Raiders house video games at Allegiant Stadium.
Harry Reid International Airport, which has seen 10 straight month-to-month declines in passenger quantity, noticed its steepest decline of 2025 in November, down 9.6 %. Through 11 months, the airport has seen nearly 3 million fewer passengers in contrast with 2024. International passenger quantity is down 6 %.
The Strip’s points haven’t floated into the opposite Nevada markets. Through November, downtown gaming income is up nearly 2 %, Reno is up greater than 4 % and the Las Vegas locals areas are up a mixed 3 %.
🚬 Workers ask Murphy to force a vote on casino smoking ban before he leaves office — Wayne Parry, Press of Atlantic City
An worker group desires the Democratic governor to exert stress on the Legislature to go a smoking ban invoice that has been stalled for practically two years.
🤑 2025 was the year of sports gambling scandals — Ben Horney and Colin Salao, Front Office Sports
The NBA, NCAA, MLB and different sports activities had been rocked by main betting and rigging scandals.
🎖️ Berry to chair Nevada Cannabis Compliance Board
Retired Maj. Gen. Ondra Berry was appointed chairman of the Nevada Cannabis Compliance Board by Gov. Joe Lombardo final month, changing Reno legal professional Adriana Guzmán Fralick, who left the board in November after saying plans to run for legal professional basic. Berry served 38 years within the Nevada National Guard. He additionally served 25 years as an officer within the Reno Police Department, rising to the rank of assistant police chief. He left the division in 2005 to work within the personal sector, together with as a senior vice chairman at MGM Resorts International.
🏈 Caesars Sportsbook to launch at former Rampart Casino
Caesars Entertainment introduced plans to launch a Caesars-branded sportsbook contained in the renamed The Resort at Summerlin pending approval by Nevada gaming regulators. The location would be the first Caesars Sportsbook in Nevada that isn’t linked to a Caesars-operated property. Caesars additionally operates William Hill-branded sportsbooks all through Nevada. Caesars Sportsbooks are in 24 states. The Summerlin property was previously often called the Rampart Casino. The rebranding included the connected 548-room JW Marriott Las Vegas.
🏆 Gaming govt Ascuaga earns Battle Born Legacy award
Longtime Northern Nevada gaming govt Stephen Ascuaga was named the Battle Born Legacy Award winner at December’s Governor’s Conference on Tourism. The award acknowledges an individual who has made extraordinary contributions to Nevada’s tourism and hospitality industries. Ascuaga, company director of enterprise growth for Peppermill Casinos, has been a part of Northern Nevada’s tourism and gaming industries for greater than 30 years, starting with management roles at John Ascuaga’s Nugget in Sparks.
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