(AsiaGameHub) –   The chief executive officer of the American Gaming Association (AGA), Bill Miller, believes the casino industry and state regulators will ultimately win their ongoing dispute over prediction markets.

Speaking at the Economic Club of Las Vegas at Park MGM, AGA head Bill Miller and Nevada Gaming Control Board Chair Mike Dreitzer addressed an audience of business leaders and gaming executives, with prediction markets as the main topic.

No Definitive Data on Prediction Markets

Miller explained that, for now, the AGA does not have concrete data on prediction markets, which have quickly expanded nationwide under federal oversight by the Commodity Futures Trading Commission (CFTC).

He also referenced developments in Tennessee, where sports betting activity appears to have declined since the introduction of prediction markets. The Volunteer State had launched sports wagering as part of a funding plan for education initiatives.

Dreitzer noted a broader downturn in the sports betting sector, arguing that prediction markets seem to be influencing consumer behavior, despite limited data.

Miller Criticized the CFTC Leadership

A highlight of the event was Miller’s direct criticism of the CFTC leadership and its claim of exclusive authority to regulate prediction markets.

The AGA leader argued that federal intervention is excessive, leading to legal challenges in multiple states.

“The head of the CFTC, quite frankly, is a joke. He believes somehow that what he’s doing is Uber and the rest of the country is the taxicab industry. That’s not the case,” Miller said.

He also questioned the regulator’s consistency, referencing earlier congressional hearings where CFTC leadership suggested adopting a neutral position on the issue.

He claimed the agency has since shifted toward actively supporting prediction market operators, intensifying disputes now being litigated in federal courts.

Across the U.S., the AGA, tribal groups, and state attorneys general are involved in ongoing litigation seeking to limit or clarify the legal status of prediction markets. Miller said the conflict has been difficult but remains confident the industry will prevail.

Dreitzer used the opportunity to express concern about the potential nationwide impact of prediction markets, warning they could evolve into unregulated online gambling platforms.

He emphasized the importance of regulation in preserving industry integrity, noting that safeguards—including age restrictions and fairness standards—are essential.

Both officials agreed that the legal landscape will likely remain uncertain for some time, with cases potentially reaching the Supreme Court as federal rulings diverge.