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Nevada Regulators Force FanDuel and DraftKings to Withdraw from Prediction Markets
13 Nov
Summary
- Nevada Gaming Control Board rejects FanDuel and DraftKings' plans for prediction markets
- FanDuel surrenders its Nevada license, DraftKings withdraws pending applications
- Regulators say prediction markets are "unlawful" and incompatible with Nevada's gaming industry
In a move that shook the sports betting industry, the Nevada Gaming Control Board (NGCB) revealed on November 13, 2025, that it had rejected the plans of FanDuel and DraftKings to expand into prediction markets. The NGCB stated that it had "accepted the surrender" of FanDuel's "Order of Registration" and any other licenses, and "granted administrative approval of requests to withdraw all pending applications" for wagering by DraftKings.
The NGCB's decision came just before Flutter Entertainment, FanDuel's parent company, announced that FanDuel Predicts would launch in partnership with CME next month. However, the regulators made it clear that they consider prediction markets to be "unlawful" and "incompatible" with Nevada's gaming industry. As a result, FanDuel and DraftKings were forced to make the difficult choice to exit the state.
"While we are enthusiastic about expanding FanDuel's presence in Nevada, our views of the current opportunity for prediction markets outside of regulated states is unfortunately in direct opposition to Nevada's priorities for its licensed operators," a FanDuel spokesperson said. The company stated that it looks forward to resuming its Nevada efforts in the future as circumstances allow.
The NGCB's move is part of a broader crackdown on prediction markets by regulators in Nevada, Ohio, New York, and other jurisdictions. These regulators have warned licensed sports betting operators that involvement in prediction markets, even outside their own jurisdictions, could jeopardize their licenses.
