Donald J. Beaudry Jr.
For Governor of Nevada
Building The Silver State’s Future — Together
Reimagining Nevada’s future — where innovation powers prosperity for everyone.
NGEX — Nevada Global Exchange
Nevada’s First State-Owned Financial Exchange
NGEX stands for Nevada Global Exchange — a fully state-owned financial exchange where investors from around the world can trade stocks, currencies, AI funds, and digital assets — all through Nevada.
And every time a trade happens, Nevada earns a small fee. That’s how financial exchanges make money — but for the first time, the State owns it, not Wall Street or any private company.
Nevada doesn’t need to tax its people to fund its future.
Under my plan, we establish a state-owned financial engine called the Nevada Investment Agency (NIA) — and from it, we build NGEX, a fully Nevada-owned global exchange headquartered right here in Las Vegas.
Think of it this way:
Nevada is home to casinos, hotels, tourism, sports, tech, world conferences — but no financial center. Right now, we host the money — but we don’t capture the financial system behind it.
NGEX changes that.
By charging tiny private-sector fees — every time global investors trade stocks, currencies, bonds, or digital assets through Nevada — the State generates billions per year without ever taxing the people again.
The goal is simple:
→ Eliminate Nevada’s $40B+ debt.
→ Replace all sales, property, and business taxes — forever
→ Fund Nevada permanently through NIA — a sovereign wealth engine owned by the people
How NGEX Actually Makes Money
Most people think governments can only make money by taxing people and businesses. In reality, there’s another way — a sovereign wealth model built on independent, recurring revenue.
This is where NGEX steps in and fills the revenue gap — transforming Nevada from a tax-dependent state into a self-sustaining financial powerhouse.
NGEX operates like Nasdaq or the New York Stock Exchange, charging small fees on every trade, every listing, and every institutional onboarding.
The difference?
This exchange is owned by Nevada, not by private banks or Wall Street.
This is how Nevada will fund its future — without taxing its people and businesses a single penny.
NGEX Revenue Potential — Full Sovereign-Scale Model
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Global Trading Fees — AI, FX, tokenized equities, and sovereign asset trades routed through NGEX
→ 0.05%–0.15% per transaction
→ Based on $30–60 trillion annual volume routed globally
→ $25B–50B / year
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Exchange Listing Fees — every AI fund, digital sovereign, or startup pays to list (like Nasdaq)
→ $2B–4B / year
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Custody & Settlement Fees — Nevada becomes the DTCC + Coinbase Custody of digital and sovereign assets
→ $4B–6B / year
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Sovereign & Institutional Onboarding Fees — major sovereign funds (QIA, Temasek, ADIA, etc.) paying for access and licensing
→ $3B–6B / year
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AI-Routed Capital & Execution Fees — AI execution layer managing global liquidity and arbitrage
→ $8B–12B / year
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Premium Market Data Licensing — Nevada becomes the “Bloomberg Terminal of AI & Sovereigns”
→ $2B–5B / year
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Digital ID + Compliance-as-a-Service — replacing traditional KYC/AML infrastructure nationwide
→ $1B–3B / year
TOTAL REVENUE PROJECTION (NET EARNINGS TO STATE)
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Startup Phase (Years 1–2): $5B–10B / year
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Growth Phase (Years 2–3): $20B–40B / year
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Full Sovereign-Scale (Years 3–5): $60B–75B+ / year
How Nevada Outperforms Dubai — And Redefines the Sovereign Wealth Model
Investment Corporation of Dubai (ICD)
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Total Assets: ≈ USD $400 billion (AED 1.47 trillion)
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Gross Revenue (FY 2024): ≈ USD $95 billion (AED 349.6 billion)
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Net Profit (FY 2024): ≈ USD $18.4 billion (AED 67.5 billion) — after all costs and expenses.
Dubai’s Investment Corporation is the sovereign holding company that powers the nation’s economy—owning and operating its largest enterprises in aviation, banking, logistics, energy, real estate, and tourism. Its profits flow directly to the government, enabling the UAE to sustain a near tax-free economic model funded entirely by state-owned profits rather than citizen taxation.
Where Dubai’s ICD nets roughly $18 billion per year on ~20% margins from traditional, capital-heavy industries, Nevada’s NGEX is built on a completely different foundation.
As a digital, AI-driven exchange and financial network, NGEX generates its revenue from data, trading, custody, and automation—low-cost, high-efficiency systems that can sustain 60–70% net margins.
That means while NGEX is projected to earn over $70 billion in annual revenue, it can retain an estimated $45–50 billion in net profit for the State each year — surpassing Dubai’s model not through oil or real estate, but through intelligence, data, and sovereign AI infrastructure designed to fund Nevada’s future without taxation.
Why Nevada’s NGEX Model Outperforms Traditional Exchange Economies
Nasdaq makes around $6–7 billion a year because it’s only doing one thing: running a stock exchange for U.S. companies. It charges small fees when people buy, sell, or list stocks — that’s all.
Unlike traditional exchanges such as Nasdaq or the NYSE — which are privately owned and distribute profits to outside shareholders — NGEX would return the majority of its profits directly to Nevada through the Nevada Investment Authority (NIA). Outside investors could still participate through equity or listing activity, but sovereign control and the majority of compounding returns would remain within the state.
Nevada’s NGEX, on the other hand, would do many things at once that Nasdaq doesn’t — and that’s why it could earn more total money even with the same or lower fee rates.
Here’s the difference step-by-step:
1️⃣ Nasdaq = One lane
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Focus: U.S. stock trading
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Customers: brokers and U.S. listed companies
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Product: stock listings, data feeds, some options
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Private company — pays out profits to shareholders
Makes ~$6 billion per year.
2️⃣ Nevada NGEX = Super-highway
If Nevada builds one state-owned system that combines all the lanes of the financial world, it earns from every lane at once:
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Stocks (like Nasdaq)
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Futures + commodities (like CME)
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Crypto + tokenized assets (like Coinbase)
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AI fund execution + sovereign trades (brand-new sector)
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Market data licensing + compliance services (like Bloomberg + Visa combined)
Each of these industries — capital markets, futures, crypto, AI execution, market data, and compliance — already produces multi-billion-dollar annual revenues across their respective sectors.
By integrating those revenue streams into a single state-owned financial exchange, Nevada can capture what is currently dispersed across private exchanges, clearinghouses, and data providers.
Through this model, the Nevada Global Exchange (NGEX) could realistically generate $10–20 billion+ in annual net revenue within its first few years — and scale beyond $70 billion+ per year as participation and international trading volume expand.
3️⃣ The Key Difference:
Nevada’s model isn’t about charging higher fees — it’s about owning the core financial infrastructure and capturing value from a far broader range of global market activity.
Through NIA and NGEX, outside investors can participate — buying shares, trading assets, and earning dividends — but Nevada retains sovereign ownership and the majority of profits stay within the state. This allows Nevada to benefit from international investment while compounding wealth for its own citizens — turning outside capital into fuel for the state’s long-term prosperity.
Analogy
Think of it like this:
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Today, Nevada’s casinos power most of the state’s economy.
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Under this model, those casinos would represent only a small fraction of Nevada’s total financial engine.
If the Las Vegas Strip were worth billions, NGEX and NIA together could operate at many times that scale — a global financial ecosystem owned primarily by the State, where every trade, listing, and investment generates returns for Nevada and its citizens.
Bottom line
Nevada earns more because:
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It retains majority ownership — outside investors can participate, but control and the majority of profits stay with the State and its citizens.
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It combines multiple global markets into a single sovereign platform.
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It captures micro-fees from hundreds of trillions in global volume — not just U.S. stocks.
That’s why $10–20 billion per year — even in early stages — is a realistic target.
Not by raising taxes or fees, but by owning and operating the infrastructure of finance itself, where profits flow primarily back to Nevada and its people.
What NGEX Charges — Private-Sector Fees, Not Taxes
NGEX works like a financial utility — it earns small private-sector fees on global trades and transactions, not taxes from citizens.
1) Trading Fees (Spot + Derivatives + Tokenized Assets)
NGEX charges a small fee of 0.05%–0.15% per trade, depending on volume and client type. These fees come from activity in stocks, commodities, crypto, and tokenized real-world assets traded through the system.
How It Grows
Startup Phase (Years 1–3):
In the first few years, NGEX begins earning as financial institutions, funds, and sovereign clients start trading on the platform. Even at this early stage, Nevada can earn about $1.5–$3 billion per year from small transaction fees across global markets.
Global Phase (Years 3–5+):
As NGEX expands worldwide and connects to more institutions, countries, and sovereign funds, trading volume increases sharply. At full scale, those same small fees add up fast — generating $5–12 billion+ per year in revenue from trading fees alone.
In short:
NGEX replaces taxes with earned revenue — small fees from global financial activity flowing through Nevada’s own, state-owned exchange. No new taxes. No outside shareholders. All profits stay in Nevada.
2) Listing & Issuance Fees (Tokens, Funds, Equities, RWAs, Sovereign Instruments)
Covers: initial listing, annual maintenance, corporate events (splits, actions)
• Early-stage: $300M–$600M
• Years 3–5: $1B–$2B
3) Custody, Collateral & Safekeeping
(State-chartered digital trust: cold/warm storage, staking, collateral management)
• Early-stage: $500M–$1B
• Years 3–5: $3B–$5B
4) Clearing & Settlement Infrastructure
(T+0/T+1 rails, cross-border USD on-chain, SWIFT replacement corridors)
• Early-stage: $400M–$1B
• Years 3–5: $3B–$8B
5) Institutional & Sovereign Onboarding
(Access for sovereign funds, insurers, pensions, and central banks) Large institutions and sovereign funds — such as those from Singapore, Dubai, or Qatar — pay one-time and annual access fees to connect to NGEX.
These fees cover compliance, due diligence, and system integration for high-volume clients entering Nevada’s sovereign financial network.
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Startup Phase (Years 1–3): $250M–$500M per year
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Global Phase (Years 3–5+): $2B–$4B per year
6) AI Execution Layer & Routing Fees
(Agentic AI order flow, smart-order routing, co-location, latency optimization)
• Early-stage: $500M–$1.5B
• Years 3–5: $5B–$10B
7) Premium Market Data & Index Licensing
(SIP-like feeds, depth-of-book analytics, sovereign + AI index products)
• Early-stage: $200M–$400M
• Years 3–5: $2B–$5B
8) Digital ID / Compliance-as-a-Service
(KYC/AML, sanctions screening, travel-rule utilities for banks and brokers)
• Early-stage: $250M–$400M
• Years 3–5: $1B–$3B
9) Tokenization Platform Licensing
(Real estate, commodities, private credit, energy offtake, IP)
• Early-stage: $300M–$800M
• Years 3–5: $2B–$5B
10) Sovereign & State Digital Asset Programs
(Setup + annual infrastructure fees for allied nations and states)
• Early-stage: $200M–$500M
• Years 3–5: $2B–$6B
Total Estimated Range
• Startup Phase (Years 1–2): $5 – 10 B per year
• Growth Phase (Years 2–3): $20 – 40 B per year
• Full Sovereign-Scale (Years 3–5): $60 – 75 B + per year
NIA Cash Flow From NBEX (Conservative)
Year 1 (Launch):
As the system goes live, Nevada begins earning about $3–6 billion per year in fees.
Years 3–5 (Growth):
As more institutions and global markets join, yearly income grows to $10–30+ billion.
Long Term (Full Global Scale):
At full operation, annual cash flow could reach $25–70+ billion for Nevada.
Why These Numbers Make Sense
Top exchanges like Nasdaq and CME already earn $4–6 billion a year each from trading and data fees.
NGEX combines all of those revenue streams — trading, custody, clearing, settlement, and market data — into one unified system owned by Nevada.
Summary
From $3 billion at launch to $70 billion at scale — all revenue stays in Nevada.
Financial Overview
Build & Regulatory Setup (One-Time Capex):
$500M–$1.5B — includes the core ledger, matching engines, custody systems (HSMs), co-location hubs, audits, and legal setup.
Run-Rate Operating Costs (Steady State):
$300M–$600M per year — for engineering, compliance, cybersecurity, facilities, and insurance.
Margin Profile:
Exchange-style businesses commonly run at 40–60% operating margins once scaled.
Since NGEX spans multiple business lines, NIA retains a substantial surplus after reinvestment and dividends. (Estimates based on public financials from CME Group and Nasdaq.)
Vision
“This is how Singapore and Dubai finance prosperity without taxes.
NGEX lets Nevada do it bigger — billions a year in private fees, owned by the people.”
The World’s First U.S. State–Backed Multi-Currency Exchange
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FX, crypto, tokenized assets, and AI execution under one platform
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Operating outside global bank control but fully legal and compliant
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Backed by sovereign NIA capital (not venture-funded or privately owned)
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Positioned as a financial Switzerland — a neutral global liquidity hub
The Nevada Wealth Engine — How NIA Turns Revenue Into Dividends
NGEX is the financial engine.
NIA is the State Sovereign Wealth Fund.
Through the Nevada Investment Agency (NIA), all revenue from NGEX flows directly into a sovereign fund owned by the people of Nevada (NIA) — not Wall Street, not private investors, not federal intermediaries.
How It Works
1️⃣ NGEX (Nevada Global Exchange)
Generates revenue — private-sector fees from global trading, listings, data, and AI execution.
2️⃣ NIA (Nevada Investment Agency)Collects and manages the surpluses — reinvesting into productive assets, infrastructure, and future technology, paying dividends back to the people.
The Flow of Value
NGEX → NIA → Nevadans
Just as Temasek and GIC channel Singapore’s exchange and state revenues into compounding investment returns, Nevada’s model builds a closed-loop financial ecosystem — where profits from global transactions fund schools, infrastructure, healthcare, and direct citizen dividends.
Projected Outcome
The first milestone for NIA is to generate sufficient profits to eliminate all of Nevada’s existing debt — approximately $40 billion.
Once that threshold is reached, every subsequent year’s cash flow and investment return can be redirected into building Nevada’s Sovereign State Fund — a permanent asset base owned by the people of Nevada.
Over time, that fund can realistically grow into the hundreds of billions, and if managed with discipline and vision, exceed $1 trillion + in total assets — all powered by fee income, investment returns, and ownership, not taxes.
Even with conservative 5% returns, that equals $12–25 billion per year in sustainable funding, sufficient to:
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Eliminate all state debt
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Permanently replace sales, property, and business taxes
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Establish an annual Nevada Dividend for every citizen
Why It Matters
For the first time in American history, a state will act not as a tax collector — but as an owner. A state that earns, compounds, and distributes wealth through participation in global finance — not through taxation of its people.
NGEX — The Engine of Nevada’s Financial Independence
NGEX is the digital backbone of the Nevada Wealth Engine — a regulated, AI-driven financial network built for security, transparency, and trust, linking global markets directly to the Nevada Investment Agency (NIA).
It’s where trades are cleared, revenues are verified, and every digital transaction is transparently tracked
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from exchange to sovereign fund to citizen dividend.
1️⃣ Ledger Architecture — AI-Cleared and Secure
NGEX uses distributed ledgers to record every transaction in real time.
Each entry is validated by AI consensus and protected with advanced encryption for long-term security. Every micro-fee collected on NGEX is automatically routed and time-stamped to the Nevada Investment Agency (NIA) for compounding.
This creates a live, auditable revenue stream for the State — transparent, tamper-proof, and viewable by citizens.
2️⃣ Regulatory Foundation
NGEX operates under Nevada’s state charter — a sovereign financial utility, not a private corporation. It complies with U.S. securities, commodities, and digital-asset laws through existing SEC, CFTC, and FinCEN frameworks. That means global banks, sovereign funds, and fintechs can legally onboard through Nevada — with every transaction cleared under U.S. law but owned by the State.
3️⃣ AI Infrastructure & Smart Routing
NGEX integrates agentic AI execution systems to route orders, manage risk, and optimize liquidity. AI-based clearing ensures fair pricing, instant reconciliation, and zero hidden costs. The result: a faster, more efficient market — where Nevada earns fractional fees automatically, without manual intervention or bureaucracy.
4️⃣ Data Security & System Integrity
NGEX uses advanced encryption and secure hardware systems to protect all custody, clearing, and data operations.
This ensures every transaction and data transfer is fully protected, verified, and auditable — maintaining the highest level of security and trust across the entire exchange network.
This would make Nevada one of the most technologically advanced financial jurisdictions on Earth — a sovereign digital fortress capable of processing billions in transactions with absolute integrity.
5️⃣ Fee Routing to NIA
Every transaction on NGEX triggers an automatic micro-distribution event.
These fractional revenues flow directly into the NIA ledger — where they are converted into sovereign investment units, compounding daily.
6️⃣ Citizen Transparency & Dividend Dashboard
Every Nevadan will be able to view the system’s performance through a public dashboard — showing live fund growth, revenue by sector, and future dividend projections. Finance made visible — accountability through data, not politics.
Building the Nevada Global Exchange — Full Cost Analysis
Creating NGEX — the world’s first state-owned, AI-powered financial exchange — requires both advanced technology infrastructure and a physical global trading and operations center built to the highest institutional standards.
Phase 1: This phase covers the full digital backbone of NGEX — including the matching engines, custody systems, and AI-powered infrastructure that form the technical foundation of Nevada’s financial network.
Estimated Costs:
• Core technology and architecture (matching engines, ledgers, AI routing, and advanced encryption): $600M–$1.2B
• Custody, clearing, and settlement infrastructure (DTCC-style rails, sovereign ID, collateral management): $400M–$800M
• AI systems and integration (agentic AI execution, liquidity routing, predictive models): $300M–$500M
• Regulatory and compliance setup (chartering, licensing, SEC/CFTC/FinCEN frameworks, audits): $200M–$400M
• Engineering and systems deployment (AI, data, cybersecurity, operational teams): $400M–$800M
Subtotal — Digital Infrastructure:
≈ $1.9B–$3.7B
Phase 2: Physical Trading Floor and Sovereign Financial Center (Las Vegas Headquarters) The Nevada Global Exchange headquarters will serve as the state’s sovereign financial command center — housing trading operations, AI infrastructure teams, compliance divisions, and the physical trading floor that anchors NGEX’s presence in the United States.
Estimated Costs:
• Land acquisition and architectural design (Las Vegas financial district campus): $150M–$250M
• Construction of trading floor, data vaults, and sovereign operations center (100,000–200,000 sq. ft facility): $400M–$600M
• Advanced security systems, surveillance, and sovereign data vaulting (quantum-grade security modules): $150M–$250M
• High-availability data centers, co-location hubs, and fiber network infrastructure: $300M–$500M
• Furnishings, displays, AI command stations, and visualization systems: $100M–$200M
• Energy systems, redundancy, and sovereign data continuity (Nevada-based private grid and cooling): $100M–$200M
Subtotal — Physical Infrastructure:
≈ $1.2B–$2.0B
Phase 3: Global Expansion and Integration
Once the Nevada hub is operational, NGEX scales globally with satellite nodes, regulatory partnerships, and sovereign connectivity points in Singapore, Dubai, London, and New York.
Estimated Costs:
• International licensing, compliance, and cross-border integration: $200M–$400M
• Global co-location and data distribution hubs (London, Singapore, Dubai): $300M–$500M
• International staffing, legal frameworks, and partnership infrastructure: $200M–$300M
Subtotal — Global Expansion:
≈ $700M–$1.2B
Total Estimated Build-Out Cost (Full System and Headquarters)
Combining all three phases — the digital exchange infrastructure, the physical sovereign financial center, and the global expansion network — the total estimated high-yield cost to build and operationalize NGEX is:
➡️ ≈ $3.8 B – $6.9 B total
The Rebirth of the American State — The First Sovereign Financial Exchange in U.S. History
Nevada will launch the first state-owned financial exchange in America —
a fully legal, U.S.-regulated platform where global currencies, AI capital, crypto assets,
and tokenized real-world assets can trade and settle —
without going through Wall Street, SWIFT, or global banks.
This is not an app. Not a brokerage. Not a cryptocurrency site.
This is neutral financial infrastructure — the kind of system that normally only entire nations like Singapore or Dubai are allowed to build.
For the first time ever —
a U.S. state, not a private bank, will own the financial rails that money moves through.
Why I’m the Governor Who Can Build This and Transform Nevada
To understand why I can build this, one must first understand the systems I’ve built before.
I began my career in the global financial markets in 1997 as a foreign-exchange strategist and trader with Citibank CitiFX Pro in Singapore — one of the most advanced trading centers in Asia.
With more than thirty years in global finance, I have built and managed multiple hedge funds, quantitative trading platforms, and brokerage ventures spanning Asia, the Middle East, and Europe.
My work has centered on systematic trading, AI-assisted modeling, and risk optimization — integrating data, technology, and disciplined strategy to produce consistent, measurable results for investors.
I have also been invited to operate within three sovereign-wealth-fund structures — Monaco, Kazakhstan, and New Caledonia —
serving as an external systems consultant and portfolio strategist within specialized institutional divisions. These positions are extended only to individuals with proven institutional credentials, fiduciary trust, and long-term performance.
Across these mandates, I’ve managed and optimized institutional portfolios, helping deliver sustained multi-million-dollar returns through precision strategy and adaptive modeling.
Building and Applying AI to Finance
Alongside my trading career, I am the Founder and CEO of BlkEdgeAi — a financial technology and research company specializing in AI infrastructure, machine learning, and algorithmic trading systems.
BlkEdgeAi builds intelligent platforms that help funds, institutions, and sovereign clients make smarter, faster, data-driven decisions across global markets. Our systems combine predictive analytics, high-frequency execution, and advanced AI modeling to identify and act on market inefficiencies in real time.
Through BlkEdgeAi, I lead a dedicated research and engineering team focused on machine learning, predictive modeling, and algorithmic optimization — technologies designed not to replace human judgment, but to amplify it, creating adaptive systems that learn continuously as conditions evolve.
These same proprietary architectures form the foundation of NGEX and the Nevada Investment Agency (NIA) — enabling Nevada to build a self-funding, self-sustaining economic engine powered by financial innovation rather than taxation.
Global Network — Local Focus
I have worked extensively within London’s “Hedge Fund Alley” — Mayfair and St. James’s — collaborating with fund managers, analysts, and infrastructure specialists inside one of the most advanced financial ecosystems in the world.
Over the years, I’ve built trusted relationships in Singapore, Hong Kong, Dubai, London, Zurich, and throughout the Middle East — networks that include regulators, institutional investors, and technology partners. This foundation gives Nevada direct access to global capital, innovation, and expertise that can accelerate real growth at home. I have also had former heads of both 🇨🇴 Banco de la República (Central Bank of Colombia) and 🇲🇽 Banco de México (Banxico) as clients in various funds I’ve managed over the years.
Building a State-Owned Sovereign Fund and Financial Exchange inside the United States requires deep experience in finance, regulation, data systems, and execution. That’s the experience I bring — not theory, but decades of building and operating financial frameworks at scale.
Why It Matters
When I speak about creating the Nevada Sovereign Exchange (NGEX) and the Nevada Investment Agency (NIA), I’m not describing an idea — I’m presenting a plan that works.
A Governor today must understand how capital moves, how data drives it, and how technology multiplies it.
I do.
I’ve lived it — through decades of experience building trading systems, managing global funds, and leading BlkEdgeAi, an AI infrastructure firm applying machine learning and predictive modeling to finance.
Now, I will apply that same knowledge to transform Nevada —
so that every Nevadan benefits directly from the wealth our state creates.
Donald J. Beaudry Jr.
Founder & CEO, BlkEdgeAi
Candidate for Governor of Nevada (2026)
I am not a retail politician who relies on the same old routine — tax and spend, raise campaign money, put up signs, and promise more of the same.
That approach has led Nevada nowhere.
If you want the same old “Joe Politician” who speaks well, smiles for the cameras, and then disappears when it’s time to actually build something — you already have that choice.
I’m not that.
I know I’m not the most polished speaker, and I don’t pretend to be.
But what is that really worth, anyway?
If you’re looking for substance, systems, and real change — someone who can design and deliver solutions that last — that’s who I am.
I’m running to build something that truly works for Nevada.
To Those Who Doubt It
Anyone who thinks this plan is unrealistic, impossible, or “too ambitious” should ask themselves one simple question:
Why is it that places like Alaska, Singapore, Qatar, and Monaco — and many others — have already implemented versions of these same ideas successfully…yet here in Nevada, in the United States of America — the richest, most powerful, most technologically advanced nation in human history — we can’t?
Really? Are they smarter than we are?
NGEX — Nevada Global Exchange The Future of Finance — Engineered in Las Vegas — Stocks • Bonds • FX • Crypto • Alternative Investments — Brought to you by Donald J. Beaudry Jr., Candidate for Governor of Nevada — 2026
Revenue Outlook & Global Context
The projected figures for NGEX — $1.5 – $3 billion in annual revenue during the startup phase, and $5 – $12 billion+ once fully scaled — represent strategic performance targets, not static assumptions.
They are based on the realistic potential of a state-owned financial exchange that integrates multiple global markets under one sovereign framework.
To place these numbers in context:
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The entire global exchange industry today generates roughly $58 billion per year in total revenue across all exchanges, clearing houses, and market-data services combined.
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Global trade volume exceeds $24 trillion annually, while the total value of global financial assets traded each year is measured in the hundreds of trillions.
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Even capturing a fraction of one percent of global trading volume would translate into multi-billion-dollar revenues for Nevada, depending on fee structure and market penetration.
Unlike traditional exchanges such as Nasdaq or the NYSE — which are privately owned and distribute profits to outside shareholders — NGEX would return the majority of its profits directly to Nevada through the Nevada Investment Authority (NIA).
Outside investors could still participate through equity or listing activity, but sovereign control and the majority of compounding returns would remain within the state.
This model combines three converging forces:
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Exchange revenue economics — small fees across massive global volume.
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Sovereign ownership — keeping profits inside the state economy rather than exporting them to private markets.
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Compounding growth — as participation and trading velocity expand, revenues rise exponentially without additional taxation.
These targets are ambitious — but mathematically plausible. Even a conservative market-share capture scenario would enable Nevada to replace existing sales and property tax income entirely through earned revenue, not extraction.
(All global data derived from publicly available financial-industry sources including the World Trade Organization and the Burton-Taylor Global Exchange Index.)
Clarification on Ownership and Profit Flow
While NGEX is a state-owned financial exchange, it will operate on an open global participation model — allowing outside investors, institutions, and sovereign funds to engage through listings, equity, and transaction activity. However, sovereign control and majority ownership will always remain with the State of Nevada.
This ensures that while international participants can share in the growth and innovation of the platform, the majority of profits, compounding returns, and long-term wealth creation flow back to Nevada and its citizens through the Nevada Investment Agency (NIA).
In short, NGEX welcomes global capital — but keeps Nevada’s wealth working for Nevada.
Institutional Framework, Roadmap & Global Integration
Governance & Legal Framework
NGEX will operate under a State Sovereign Financial Charter governed by the Nevada Investment Agency (NIA) and overseen by a professional Board of Governors composed of experts in global finance, technology, regulation, and law. All operations will comply fully with U.S. SEC, CFTC, and FinCEN standards, as well as international AML and KYC regulations. Annual independent audits and on-chain transparency through the NIA ledger will provide complete accountability to both the citizens of Nevada and the global financial community.
Implementation Roadmap
Phase 1 (0–12 months): Chartering, legal and regulatory onboarding, and core system architecture.
Phase 2 (12–24 months): Launch of NGEX operations — trading, custody, and AI-driven clearing become fully functional.
Phase 3 (24–36 months): Expansion to global financial centers in Singapore, Dubai, and London with institutional onboarding.
Phase 4 (36 months and beyond): Nevada Dividend activation — citizens begin receiving annual distributions from NIA profits.
Strategic Partners & Early-Stage Capitalization
Initial funding will combine state-chartered seed capital, technology partnerships, and institutional co-investment. Partnerships will focus on exchange infrastructure, cybersecurity, AI execution, and global compliance integration. The objective is to attract sovereign funds, institutional investors, and fintech innovators aligned with Nevada’s long-term, tax-free economic model.
Global Alignment & Sovereign Connectivity
NGEX will integrate with allied sovereign wealth funds and global financial centers, positioning Nevada as a neutral liquidity hub within the U.S. regulatory system. Early engagement will focus on Singapore, Dubai, and Qatar — jurisdictions already pioneering AI-driven, data-based financial systems. These relationships will enhance Nevada’s legitimacy, access to global capital, and role as a financial bridge between nations.
Economic Impact for Nevada
At launch, NGEX is expected to generate several billion dollars annually in net revenue for the State of Nevada, growing to tens of billions as global participation expands. Over time, this will support thousands of high-tech jobs, new infrastructure investment, and a permanent citizen dividend program. Even a modest share of global trading volume will be enough to replace all current sales, property, and business taxes with earned revenue from NGEX operations.
Technology & AI Infrastructure Advantage
NGEX integrates advanced AI order routing, predictive analytics, and quantum-secure clearing to manage global liquidity with near-zero latency. This architecture makes Nevada one of the most technologically advanced financial jurisdictions in the world — capable of processing billions in daily transactions with transparency, efficiency, and trust.
Citizen Dividend Framework
Every Nevadan will become a direct participant in the state’s prosperity through the Nevada Citizen Dividend Program, which distributes annual NIA profits evenly to residents. A public dashboard will show live fund performance, total assets, and projected dividend growth — ensuring transparency and public accountability in how the system generates and shares wealth.
Research & Data Integrity
All financial modeling and projections for NGEX and NIA are based on data from the World Trade Organization, the Burton-Taylor Global Exchange Index, and public financial reports from Nasdaq, CME Group, and the Investment Corporation of Dubai. These benchmarks provide the analytical foundation for Nevada’s sovereign finance framework and confirm that this model is both achievable and sustainable over time.
Institutional Depth & Global Validation
The NGEX framework draws upon established precedents in global market infrastructure and sovereign finance. Its structural design integrates methodologies and best practices from:
• Clearing & Settlement Architecture: modeled on standards from DTCC, Euroclear, and Clearstream for secure cross-border reconciliation.
• Exchange Governance: adopting compliance protocols from IOSCO, BIS, and OECD guidelines on sovereign financial institutions.
• AI Infrastructure: leveraging quantum-secure routing and machine learning for liquidity optimization, following frameworks pioneered by IBM Qiskit and Google Cloud Vertex AI.
• Regulatory Integration: fully interoperable with SEC, CFTC, and FinCEN frameworks, ensuring all NGEX operations remain compliant with U.S. federal law and international AML/KYC standards.
• Data Assurance: real-time audit synchronization using blockchain-based proof-of-transaction systems with verifiable state-chain replication — ensuring that every NGEX transaction is publicly auditable and tamper-resistant.
Together, these pillars establish NGEX not as a speculative idea, but as a technically grounded, legally compliant, and globally validated financial system — the first of its kind ever built by a U.S. state.
Economic Impact on Nevada
The launch of the Nevada Global Exchange (NGEX) represents the most significant financial transformation in the history of the Silver State — converting Nevada from a consumption-based economy into a production-based sovereign finance model.
By shifting revenue generation from taxation to transaction fees and investment income, NGEX fundamentally redefines how Nevada’s economy functions and funds itself:
• Debt Elimination: Within the first 5–7 years, the NGEX–NIA framework is projected to generate sufficient annual surpluses to retire Nevada’s existing $40 billion in total liabilities.
• Tax Independence: Sales, property, and business taxes can be fully phased out as NGEX revenue replaces traditional tax collections with earned, compounding income.
• Citizen Dividend: As NIA assets expand, every Nevadan becomes a shareholder in the State’s prosperity through the Nevada Dividend Program — a permanent, transparent annual distribution tied directly to NIA profits.
• Employment & Skill Creation: NGEX headquarters and sovereign operations will anchor a new Financial Technology District in Las Vegas, supporting more than 25,000 high-skilled jobs across AI, cybersecurity, compliance, data engineering, and quantitative finance.
• Infrastructure Investment: Annual NIA surpluses will finance statewide infrastructure — transportation, water systems, renewable energy, healthcare, and education — without new taxes or borrowing.
• Global Positioning: Nevada will become the first U.S. state recognized as a sovereign financial hub, standing alongside Singapore, Dubai, and Zurich as a destination for global capital, technology, and innovation.
In economic terms, NGEX transforms Nevada from a tax-dependent jurisdiction into a self-funding, compounding sovereign entity — capable of sustaining prosperity through intelligence, innovation, and ownership rather than extraction.
Governor’s Vision — Donald J. Beaudry Jr.
Candidate for Governor of Nevada 2026
“Building the Silver State’s Future — Together.”
Nevada has always been a place of bold ideas — and it’s time for another one.
For more than a century, our state has relied on the same old model:
tax the people, tax the businesses, and hope tourism fills the gaps.
That era is over.
The future of Nevada isn’t about taxation — it’s about ownership.
It’s about building systems that make money for the people, not from them.
What I’ll Do as Governor
✅ Eliminate all state taxes — sales, property, and business.
✅ Retire Nevada’s $40 billion in debt within the first 5–7 years.
✅ Establish a Nevada Dividend — annual payments to every Nevadan, tied to the State’s profits.
✅ Build a Financial Technology District in Las Vegas — 25 thousand new high-skill jobs in AI, finance, and data.
✅ Reinvest our surpluses in infrastructure, renewable energy, and education — with no new taxes, ever again.
✅ Make Nevada a global financial hub, on par with Singapore, Dubai, and Zurich.
✅ Guarantee transparency — every citizen can see where the money goes, live, in real time.
This is how we build a Nevada that earns — not one that borrows.
A Nevada that owns its future — not one that sells it.
A Nevada that funds itself — not through taxes, but through innovation.
If I become Governor, and I’m allowed to implement this system, it will propel ^ Nevada into the stratosphere —
creating jobs, wealth, and opportunity like never before.
Checkmate.
Blackjack.
Nevada Wins!
Governor’s Closing Quote
“They say we can’t gamble with Nevada’s finances.
But that’s all our leaders have done for decades — gamble and lose.This isn’t a gamble. The odds are in our favor.
Wall Street earns billions from transaction fees every single day —
I’m just bringing those fees home to Nevada.For the first time in history, the House doesn’t win.
Nevada does.”— Donald J. Beaudry Jr.
Candidate for Governor of Nevada, 2026
Donald J. Beaudry Jr., Founder, Chief Architect, and Developer of NIA and NGEX (2024) — engineering the core framework for Nevada’s transition into a global financial capital.
NGEX — Nevada Global Exchange
Nevada’s First State-Owned Capital Markets
All images are illustrations of NGEX and NIA operations. All trademarks and property names appearing in background imagery are the property of their respective owners and are used solely for illustrative purposes.
All original text, images, and system designs are the exclusive intellectual property of Donald J. Beaudry Jr. All NGEX and NIA illustrations are conceptual and for illustrative purposes only.
All market imagery shown on this website is for illustrative purposes only. NGEX is an independent system and is not affiliated with or endorsed by Bloomberg L.P., CME Group, Nasdaq, or any other data vendor.
Regulatory Alignment & SEC Oversight
NGEX operates under Nevada’s sovereign financial charter in full compliance with established U.S. federal regulatory frameworks — including the Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC), and Financial Crimes Enforcement Network (FinCEN).
Although NGEX is a state-owned exchange, all trading, listing, and custody operations adhere to the same standards that govern national exchanges such as Nasdaq and CME Group. This ensures that every asset traded through NGEX — whether equities, sovereign instruments, or tokenized assets — is cleared, settled, and recorded under
SEC and CFTC guidelines
Compliance and supervisory oversight include:
• SEC-regulated securities listing protocols
• CFTC oversight for derivatives and commodity instruments
• FinCEN standards for Anti-Money Laundering (AML) and Know-Your-Customer (KYC) frameworks
• Real-time transaction verification through the NIA’s sovereign ledger for transparency and auditability
This framework gives NGEX a unique position in U.S. financial history — a state-owned, sovereign exchange operating with full SEC and CFTC compliance, integrating traditional capital-market law, with next-generation digital infrastructure.
Fully compliant. Fully transparent. Fully sovereign.
