Light & Wonder Chief Urges Casino Industry to Unite Against Prediction Markets

^{Pictured: Matt Wilson, CEO of Light & Wonder}

Matt Wilson, chief executive of Light & Wonder, one of the largest technology suppliers to the casino industry, has urged the gambling sector to push back against Kalshi, Polymarket and other prediction market platforms, CDC Gaming reported.

Speaking at the 47th annual Gaming Conference at Circa Las Vegas, Wilson said the platforms were growing rapidly, competing with casinos for players’ money and could eventually move into products resembling online slots.

Wilson said the sector had expanded sharply over the past six months, while the combined market value of Kalshi and Polymarket was already twice that of DraftKings and FanDuel.

He stressed that Light & Wonder was not directly involved in the segment, but viewed it as a potential threat to iGaming. According to Wilson, consumers are spending money on prediction market platforms, reducing the amount that would previously have gone to casinos.

“Players do not have an unlimited budget for casinos,” Wilson said.

The Light & Wonder chief added that prediction market platforms were developing products similar to online slots, but structured as event-based prediction contracts rather than gambling products.

Wilson said the industry needed to unite and consider ways to slow the segment’s growth. He also said the industry had grounds to argue that some prediction markets amounted to illegal gambling.