Wednesday, April 30, 2025, signifies President Donald Trump’s 100th day in office during his second term. The beginning of the former casino owner’s second term has been hectic, at times disorderly and contentious. 

The initial 100 days of a president's administration are regarded as a standard to gauge the early accomplishments of the new leader. Assessing whether Trump’s second first 100 days has been a success or a setback significantly depends on party affiliations. 

Trump has, without a doubt, been occupied. He has issued 142 executive orders, 40 proclamations, 42 memorandums, the Laken Riley Act mandating the Department of Homeland Security to detain and deport illegal immigrants accused of or guilty of violent offenses, and made numerous public remarks from questioning if Pete Rose should be in the Hall of Fame to joking about a potential third term in 2028, which his press secretary claimed this week was Trump “trolling” his opponents. 

One of the most notable occurrences in the last 100 days is Trump threatening tariffs on a majority of the world. Although he has reduced the original tariffs he revealed on his purported “Liberation Day,” the potential “reciprocal tariffs,” as mentioned by the president, could jeopardize the global economy. 

Trump’s Influence on Gaming 

Trump’s second term has influenced gaming as well, with his tariffs likely having the greatest effect on the well-being of US tribal and commercial gaming sectors. Concerns stretch from Las Vegas to Atlantic City regarding consumer habits and whether some may reduce their leisure spending in expectation of increased expenses associated with tariffs. 

Gaming analyst Barry Jonas from Truist Securities noted after his attendance at the East Coast Gaming Congress in Atlantic City that casino executives currently maintain a positive outlook on their operations despite broader economic worries. 

“Despite market turmoil, company commentary was fairly positive, noting consumer trends are stable and tariff impact largely unknown so far,” Jonas said in a note provided to Casino.org.

Jonas, however, included a note of caution.

"The current administration’s rollout of various policies — including tariffs and drastic spending cuts — continue to cause uncertainty in the markets. Panelists agreed the implementation of tariffs is still early and operators have yet to see the full impact. Panelists did seem more concerned on softer international travel trends, which Las Vegas is susceptible to,” Jonas wrote.

Since Trump assumed office on January 20, MGM Resorts' shares have declined by 7%, Caesars Entertainment's shares are down 21%, and Wynn Resorts' shares have fallen by 7%. Las Vegas Sands shares, despite the absence of US casinos for the company, have declined by 18%. 

Dr. Miriam Adelson, the controlling owner of Sands, was one of Trump’s biggest contributors in 2016, 2020, and the previous year. 

Prediction Markets 

A crucial matter that the second Trump administration will address is the oversight of prediction markets, online betting platforms, and applications that present themselves as derivatives markets. 

The Commodity Futures Trading Commission (CFTC) oversees these peer-to-peer exchanges. In February, Trump appointed Brian Quintenz, a former CFTC commissioner and supporter of cryptocurrency, to lead the independent governmental organization. 

Trump favors reduced regulations, and his administration is anticipated to support digital currencies and new assets such as prediction markets. In January, Kalshi, a prominent exchange, appointed Donald Trump Jr. to an advisory position. 

Kalshi and its rivals have recently begun providing event contracts related to sports, which the regulated gaming industry argues breach state laws governing sports betting. The CFTC is examining whether contracts related to sports events qualify as a financial instrument or a type of gambling.