Kevin Costner Opens Dunbar Ranch for Closed Retreat on Prediction Market Disputes

Actor Kevin Costner is hosting a closed three-night retreat at his Dunbar Ranch in Colorado for top decision makers in commercial gaming, Indian Country, and prediction markets. The gathering seeks to address how or if sports event contracts fit into the gambling landscape, as courts continue to debate their status. Costner, who owned a casino in Deadwood, South Dakota for 26 years, told InGame he has friends in both the gambling and tribal worlds and felt called to create this space after entrepreneur Kasey Thompson described the predicament.

In a letter obtained by InGame, Costner invites participants to “give you time, share some meals, and see what’s possible.” He outlines an off-the-grid setting where stakeholders can explore ideas that “didn’t strike you at first … only to wake up and see a new path forward for your beloved companies and employees.” The invite list features CEOs from the biggest gaming companies, top leaders from Indian Country, former regulators, and deal advisors with deep experience in gaming, regulation, law, and transactions. Those advisors “aren’t there to represent a side. They’re there as a resource to everyone.”

Creating Room for Unconventional Dialogue

Costner considered a traditional urban meeting “on the 57th floor” but chose the ranch to encourage longer-term discussions and “drilling down” on the issues. He said the approach may be “a little unconventional, what we’re talking about here, but those are my favorite things.” Costner has heard back from about 70% of invitees, many of whom committed once they confirmed the invitation was genuine. Thompson, a former Pala Interactive executive and high-stakes poker player, is partnering on the retreat.

Costner emphasized that “there are a lot of people behind these men that have jobs, and jobs aren’t that easy to come by.” He added that staying on site prevents early exits, offering “another bite at the apple” if initial talks stall. The Supreme Court is expected to rule on the core questions, creating what Costner called a “pressure situation.”

What the Gathering Seeks to Unlock

Prediction markets have roiled the regulated gambling industry since Kalshi offered its first sports event contract ahead of the Super Bowl in 2025. The central dispute is whether these contracts qualify as a “swap” under Commodity Futures Trading Commission regulations or fall under state gambling rules and the Indian Gaming Regulatory Act. Kalshi and the CFTC face litigation with more than 25 states and tribal entities. A circuit-court split has emerged, with the Third Circuit ruling for Kalshi and the Ninth Circuit siding with Nevada and a pair of California tribes. The contracts are banned in Michigan, Nevada, and Washington.

Costner’s letter asks whether “an ecosystem where tribal sovereignty and interests are respected, states can fulfill their responsibilities, established gaming companies have certainty, and emerging prediction platforms can find a workable path forward” is possible. He frames the retreat as a chance “to be part of something epic” and urges attendees to “bring your convictions, the difficult questions, and an open mind.”

Reporting: InGame

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