The Nevada Gaming Control Board filed a civil enforcement action against Coinbase for offering unlicensed wagers on sporting events. They requested a temporary restraining order and preliminary injunction to prevent Coinbase from operating a derivatives exchange and prediction market related to sports bets.

This action followed Coinbase’s announcement of launching prediction markets in all 50 US states in partnership with Kalshi. While the US Commodity Futures Trading Commission oversees Kalshi at the federal level, state-level regulators like Nevada can still pose legal challenges.

A Nevada court granted a temporary restraining order against Polymarket, blocking the platform from offering event-based contracts to state residents. These cases at the state level could challenge the CFTC’s authority to regulate prediction platforms without clear laws.

Read more at CoinTelegraph: Nevada Authorities File Lawsuit against Coinbase over Unlicensed Wagering