Las Vegas, he said, was at the "forefront of information sharing."
"Regrettably, in this case, there wasn't an early signature," Sweet said.
Paddock was found dead in his hotel room in an apparent suicide, Las Vegas Metropolitan Police Department Sheriff Joseph Lombardo said.
Investigators said he had no known connection to international terrorism, and there were no other shooters. Nonetheless, ISIS claimed responsibility, offering no evidence.
Robert Strang, CEO of Investigative Management Group, agrees that risks can be reduced but said it is difficult to fully secure so-called soft targets like this.
"We can move the perimeters out, we can have more armed security at these locations, but we're never going to be able to really fully secure any of these soft targets," he said in an interview with "Power Lunch."
"Think about just getting on an airplane and what you go through to get on an airplane," Strang said. "Would we want to do that every time we walked into a restaurant or to a hotel?"
In fact, Las Vegas police perform drills on a regular basis and were able to respond quickly on Sunday, said Strang, who previously worked with the FBI, was a special agent with the Drug Enforcement Agency and served as the co-chair of New York's Anti-Terrorism Task Force.
"If they hadn't responded so quickly, identified the room so quickly and entered so quickly perhaps there would be more tragedy than we're seeing today," Strang said.
Sweet agreed there needs to be balance between safety and personal freedom. However, he said there are also many technologies that can increase security without diminishing individual freedom.
For example, acoustic technology can help police immediately identify the trajectory of where the bullet came from, he said.
— CNBC's Michael Sheetz contributed to this report.