Nevada Sportsbook Executives Blame Prediction Markets for Sliding Wagering Volume in Testimony to Gaming Regulators

With Nevada sports wagering volume down $249 million so far in 2026, a veteran bookmaker on Wednesday railed against prediction markets for stealing market share from the state’s licensed sportsbooks. The head of Caesars Digital agreed, saying there’s no doubt these operators are cutting into profits industry-wide.

Hall of Fame bookmaker Joe Asher, CEO of Boomer’s Sportsbook, and Eric Hession of Caesars addressed the topic when they appeared before the Nevada Gaming Control Board on matters related to their sportsbook expansions.

Monthly Handle Has Slid for Most of 2026

Nevada has been locked in legal battles to exclude Kalshi, Polymarket, and other prediction markets from the state. The Nevada Gaming Control Board has asked a district court to hold Kalshi in contempt, alleging the operator hasn’t complied with a May 18 judicial order against offering sports betting in Nevada — an allegation Kalshi disputes.

The board’s latest report showed Nevada sportsbook wagers totaled $545.7 million in May, down 5.4% from a year earlier, with mobile wagers down 3.1% to $409.8 million. April wagers fell 15.1% year-over-year to $525.1 million, and March wagers dropped 11.3% to $763 million. Board member George Assad pressed Asher on the connection, telling him plainly that bettors shut out of prediction markets would otherwise be wagering with licensed Nevada operators.

Bettors Reportedly Skirting the Court Order

Asher said there’s no way to precisely quantify the impact, but “of course, there has to be an impact from the prediction markets.” He described witnessing at least two instances of bettors using Kalshi despite the court order — including a dinner companion who placed a bet on his phone and a Las Vegas resident who simply changed his app address to California to keep wagering.

Asher also said Kalshi advertisements appeared when he searched for the Boomer’s Sportsbook and William Hill apps in the Apple App Store within the past week or two, after Kalshi had already been ordered to stop operating in Nevada. “So much for respect of the rule. The actions speak for themselves,” he said, noting he has screenshots documenting the ads. He also recalled Kalshi advertising on a billboard at Las Vegas Boulevard and Harmon during the Super Bowl even after the court order took effect.

Caesars operates sportsbooks in 32 states outside Nevada, and Hession told the board the nationwide impact from prediction markets is real, even if hard to isolate. “Regulated states report the sportsbook growth in volume has slowed a bit. We’re not seeing a significant impact to our revenue line yet, but it’s hard to tell,” he said, noting the industry’s typical 10% to 15% growth rate has cooled recently. He added that prediction markets carry a structural advantage because they avoid state taxes, licensing costs, and age restrictions that keep traditional sportsbooks from taking wagers from 18-year-olds.