FanDuel, DraftKings Pull Nevada License Applications Ahead of Plans to Enter Prediction Market Space
FanDuel and DraftKings have ended pursuit of sports betting licenses in Nevada following the respective launch announcements of their pending Prediction Markets, per a Nevada Gaming Control Board release.
"It has been made clear to the Board that FanDuel and DraftKings intend to engage in unlawful activities related to sports event contracts. This conduct is incompatible with their ability to participate in Nevada's gaming industry."
The statement continued: "The Board takes seriously its obligation to operate a thriving gaming industry and to protect Nevada citizens. As a reminder to our licensees and to provide guidance and clarity on the Board's position with regard to the matter of sports event contracts and prediction markets, the Board offers the following: Notice # 2025-90 Flutter Entertainment, FanDuel Sportsbooks, and DraftKings."
Flutter has made it no secret that the company looks to pursue options in the prediction market sector.
During Flutter’s third quarter earnings call Wednesday, CEO Peter Jackson said FanDuel Predicts will launch sometime in December. The company has already partnered with CME Group for a prediction markets product.
The NGCB previously warned licensees about potential disciplinary measures related to offering sports event contracts.
Prediction market operators argue they can operate nationally under the federal purview of the Commodity Futures Trading Commission (CFTC).
- Chris Costigan, Gambling911.com Publisher
