Adam Greenblatt, CEO of BetMGM, has publicly criticized sweepstakes casinos, urging U.S. lawmakers to make them illegal. In a recent interview, Greenblatt claimed that these platforms are harmful to the regulated iGaming market, unfair to licensed operators, and dangerous for players.
He emphasized that states lose out on tax revenue, as sweepstakes casinos often bypass regulation and taxation. Additionally, many of these platforms lack proper safeguards, putting vulnerable users at greater risk of gambling addiction.
“Sweeps should be considered illegal iGaming,” Greenblatt said. “They’re bad for the regulated sector, bad for state revenues, and bad for players.”
Greenblatt expressed satisfaction that several states—including New York, California, and Connecticut—have begun legislative efforts to ban these operations. He believes that as more states regulate real-money online casinos, the pushback against unlicensed gambling platforms will grow stronger.
No Rush Into Prediction Markets
Greenblatt also addressed the growing trend of prediction markets, where users bet on politics, entertainment, and more. Despite the rise of platforms like Kalshi and Polymarket, BetMGM has no plans to enter that space yet.
“Our regulators, tribal partners, and attorneys general have all made it clear—prediction markets are seen as sports betting,” he explained.
Due to ongoing legal scrutiny and uncertain regulation, Greenblatt says BetMGM will not be a first mover in the space. The company plans to focus on regulated growth rather than enter unsettled legal territory.
