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If it strikes a more reasonable balance that encourages economic development, “you will see the world’s best casino operators submit proposals”, he says. The government, he adds, must show it is prepared to give developers enough room to manage the risks of committing billions of dollars in capital.

Klebanow remains cautious about the commercial prospects of Japan’s emerging IR market, particularly given the tight limits on gaming capacity. With only five casinos ultimately envisaged, he argues that the number of gaming machines and tables will be modest relative to Japan’s population, making it “very safe to assume” that gambling will be socially and physically contained.

The bigger question, therefore, is whether such constraints will leave operators enough capacity to generate the returns needed to justify their investment.

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“This partnership represents exactly the type of opportunity Indian Country should be pursuing, where Tribes are owners, innovators and leaders, not just participants,” he said. “For generations, the Tunica-Biloxi people have adapted, traded and built relationships that allowed our Nation to prosper. This initiative carries that tradition into the modern economy.”

Lane Kiffin will face Ole Miss, his former team, for the first time since he was named LSU head coach last November. For Kiffin’s return to Oxford, the Tigers are 59% favourites at Kalshi.

The announcement came on the same week that Indian Gaming Association leaders met with CFTC Chair Michael Selig. The meetings centred on prediction market-related discussions that IGA Chair David Bean deemed mostly unproductive. On Wednesday, the US Court of Appeals for the Ninth Circuit reversed a lower court’s decision in Blue Lake Rancheria vs Kalshi.

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“During prosecution, the Examiner did not apply the material prior art or straightforward combinations presented here, which render every challenged claim obvious,” according to a DraftKings filing with the patent office.

Citing U.S. code, the gaming company is pushing for an inter parties review while requesting that the board find the 18 claims in question “unpatentable.”

Patent squabbles, including those pertaining to geolocation services, aren’t unheard of in the online gaming space. How things shake out in the Cantor Fitzgerald/DraftKings spat remains to be seen, but it’s possible the deck is stacked against the gaming company.