Key Moments:
- FanDuel has surrendered its Nevada licenses, and DraftKings has withdrawn related applications, following agreements with the Nevada Gaming Control Board (NGCB).
- The NGCB has underscored strong opposition to sports prediction markets, warning operators about legal risks in Nevada.
- Both companies will continue expanding event contract offerings outside Nevada, leaving the state’s sportsbook market to established operators.
Operators Withdraw from Nevada
Flutter Entertainment’s FanDuel has officially relinquished its Nevada gaming licenses, while DraftKings has ceased pursuing similar permits. This decision follows finalized agreements with the Nevada Gaming Control Board (NGCB), which made the announcement earlier today. Notably, neither FanDuel nor DraftKings currently provides sports betting services in Nevada, despite holding leading positions in the broader U.S. market.
The NGCB accepted the surrender of Flutter Entertainment PLC’s Order of Registration, as well as all licenses tied to FanDuel Sportsbooks and its information service provider license. The board also approved the withdrawal of all active and pending applications related to both operators, according to a formal statement released by the NGCB.
So uhh don't go looking for a DraftKings or FanDuel sportsbook in Vegas soon… or ever, maybe. pic.twitter.com/TGhXmeJoIA
— Geoff Zochodne (@GeoffZochodne) November 12, 2025
Limited Presence in Nevada
FanDuel’s current presence in Nevada is restricted to supplying branding and odds for the Boyd Gaming (NYSE: BYD) Fremont Hotel Casino sportsbook in downtown Las Vegas. In August, Flutter completed the $1.758 billion acquisition of the remaining 5% of FanDuel from Boyd Gaming. DraftKings, for its part, maintains an office in the Southwest area of Las Vegas but does not operate a sportsbook in the state.
Regulatory Stance on Prediction Markets
Both companies have taken steps toward launching event contracts elsewhere, with DraftKings announcing DraftKings Predicts and FanDuel set to introduce FanDuel Predicts next month. Despite these expansion efforts, Nevada is not a target market due to ongoing opposition from state regulators to prediction markets involving sports events.
The NGCB has previously moved against similar models, and recent legal challenges continue to shape the landscape for these types of contracts in Nevada. According to the NGCB, offering sports event contracts could undermine an operator’s ability to hold a Nevada license, a view that has been echoed by other gaming regulators nationwide.
“It has been made clear to the Board that Flutter Entertainment/FanDuel and DraftKings intend to engage in unlawful activities related to sports event contracts,” said the regulator. “This conduct is incompatible with their ability to participate in Nevada’s gaming industry.”
The NGCB also warned that licensees who operate event contracts in other states in violation of local regulations could face consequences in Nevada.
Market Implications for Competing Operators
Given Nevada’s requirement for in-person registration for mobile sports betting, the exit by DraftKings and FanDuel removes major potential competition for incumbent operators including BetMGM, Caesars/William Hill, Circa, and STN Sports. While it remains unclear if these operators will pursue their own event contracts within the state, the NGCB indicated it will closely examine any such developments when considering ongoing license suitability.
| Operator | Recent Action in Nevada | Current Presence |
|---|---|---|
| FanDuel (Flutter Entertainment) | Surrendered licenses | Branding/odds provider at Fremont Hotel Casino |
| DraftKings | Withdrew license applications | Administrative office, no betting operations |
“If a Nevada licensee chooses to offer sports event contracts in Nevada or decides to partner with other entities offering sports event contracts in the state, the Board will consider these developments as it evaluates the suitability of the entity to maintain a Nevada gaming license under NRS 463.170,” concludes the regulator.
- Author
Daniel Williams
