{"id":890195,"date":"2026-02-04T23:11:54","date_gmt":"2026-02-05T05:11:54","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2026\/02\/04\/nevada-moves-to-block-coinbase-prediction-markets-after-polymarket-ban\/"},"modified":"2026-02-04T23:11:54","modified_gmt":"2026-02-05T05:11:54","slug":"nevada-moves-to-block-coinbase-prediction-markets-after-polymarket-ban","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2026\/02\/04\/nevada-moves-to-block-coinbase-prediction-markets-after-polymarket-ban\/","title":{"rendered":"Nevada Moves to Block Coinbase Prediction Markets After Polymarket Ban"},"content":{"rendered":"<div>\n<div>\n<div>\n<p><img decoding=\"async\" src=\"https:\/\/cimg.co\/wp-content\/uploads\/2025\/04\/23090551\/ayan-150x150.jpg\" alt>\n                    <\/p>\n<p>Crypto Journalist<\/p>\n<div>\n<p>Amin Ayan<\/p>\n<div>\n<div>\n<p><img decoding=\"async\" src=\"https:\/\/cimg.co\/wp-content\/uploads\/2025\/04\/23090551\/ayan-150x150.jpg\" alt>\n                <\/p>\n<div>\n<div>\n<p>Crypto Journalist<\/p>\n<p><span>Amin Ayan<\/span><span class><img decoding=\"async\" src=\"https:\/\/cryptonews.com\/wp-content\/themes\/cryptonews\/images\/verification.svg\" alt=\"Verified\"><\/span>\n                    <\/p>\n<\/p><\/div>\n<div>\n<p>Part of the Team Since<\/p>\n<p>Apr 2025<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div>\n<p>About Author<\/p>\n<p>Amin Ayan is a crypto journalist with over four years of experience in the industry. He has contributed to leading publications such as Cryptonews, Investing.com, 99Bitcoins, and 24\/7 Wall St. He has&#8230;<\/p>\n<\/p><\/div>\n<\/div><\/div>\n<\/p><\/div>\n<div>\n<p>Last updated:\u00a0<\/p>\n<p><time datetime=\"2026-02-04T08:14:02+00:00\">February 4, 2026<\/time>\n        <\/p>\n<\/p><\/div>\n<\/div>\n<p><img fetchpriority=\"high\" width=\"1200\" height=\"673\" src=\"https:\/\/cimg.co\/wp-content\/uploads\/2026\/02\/04081236\/1770192756-image-1770192101176_optimized.jpg\" alt=\"Nevada Moves to Block Coinbase Prediction Markets After Polymarket Ban\" decoding=\"async\"  ><\/p>\n<p>Nevada regulators have taken fresh legal action against crypto exchange Coinbase, seeking to halt the company\u2019s prediction market offerings in the state as tensions grow between federal derivatives oversight and state gambling laws.<\/p>\n<div>\n<p><strong>Key Takeaways:<\/strong><\/p>\n<ul>\n<li><span>Nevada regulators are seeking to block Coinbase\u2019s prediction markets, arguing the contracts qualify as unlicensed gambling under state law.<\/span><\/li>\n<li><span>The dispute centers on whether event-based contracts fall under federal CFTC oversight or state gaming authority.<\/span><\/li>\n<li><span>The case is part of a wider legal clash as multiple US states challenge prediction market platforms.<\/span><\/li>\n<\/ul>\n<\/div>\n<p>The Nevada Gaming Control Board on Monday <a href=\"https:\/\/www.gaming.nv.gov\/siteassets\/content\/about\/press-release\/ngcb-vs-coinbase---complaint-02.02.26.pdf\" target=\"_blank\">filed a civil enforcement complaint against<\/a> Coinbase Financial Markets in Carson City, requesting a permanent injunction, declaratory relief, and an emergency temporary restraining order.<\/p>\n<p>Regulators argue the platform is offering event-based contracts tied to sports and elections without the state gaming licenses required under Nevada law.<\/p>\n<h2>Nevada Says Coinbase Prediction Markets Violate State Gaming Law<\/h2>\n<p>Coinbase introduced prediction market trading to US users last month through a partnership with Kalshi, a federally regulated designated contract market overseen by the Commodity Futures Trading Commission.<\/p>\n<p>Nevada officials, however, say contracts linked to sporting outcomes and elections constitute wagering activity and therefore fall under state gaming rules rather than federal derivatives jurisdiction.<\/p>\n<p>The board also alleges the Coinbase app permits users aged 18 and older to trade event contracts, below Nevada\u2019s legal gambling age of 21.<\/p>\n<p>In court filings, regulators said the company\u2019s continued operation creates \u201cserious, ongoing, irreparable harm\u201d and gives Coinbase an unfair advantage over licensed sportsbooks that must meet strict compliance, tax, and physical-location requirements.<\/p>\n<figure><\/figure>\n<p>The dispute arrives amid a broader legal clash between Coinbase and several US states.<\/p>\n<p>The exchange recently <a href=\"https:\/\/cryptonews.com\/news\/coinbase-sues-michigan-illinois-and-connecticut-over-prediction-market-regulation\/\">filed federal lawsuits against gaming regulators<\/a> in Connecticut, Michigan, and Illinois, arguing that prediction markets fall exclusively under CFTC authority and that state enforcement efforts unlawfully restrict innovation.<\/p>\n<p>Those states had issued cease-and-desist notices accusing prediction platforms of unlicensed sports wagering.<\/p>\n<p>Nevada officials maintain their responsibility is to protect consumers and preserve the integrity of the state\u2019s gaming industry.<\/p>\n<p>Board chairman Mike Dreitzer said enforcement action was necessary to uphold those obligations as new digital betting-style products enter the market.<\/p>\n<h2>Nevada Escalates Crackdown on Prediction Market Platforms<\/h2>\n<p>The latest case follows a string of enforcement moves against prediction market operators. Nevada previously pursued action against Kalshi over sports-related contracts, triggering a legal battle that remains under appeal.<\/p>\n<p>More recently, a state court granted a <a href=\"https:\/\/cryptonews.com\/news\/polymarket-hit-with-two-week-nevada-ban-offering-contracts\/\">temporary restraining order blocking Polymarket<\/a> from offering event contracts to Nevada residents for two weeks, signaling judicial willingness to side with state regulators despite federal derivatives oversight claims.<\/p>\n<p>Last month, Kalshi <a href=\"https:\/\/cryptonews.com\/news\/kalshi-opens-washington-office-to-step-up-us-lobbying-efforts\/\">opened a new office in Washington, D.C.,<\/a> as it ramps up efforts to shape federal and state policy amid growing scrutiny of its products across the United States.<\/p>\n<p>The company also hired veteran political strategist John Bivona as its first head of federal government relations.<\/p>\n<p>Meanwhile, a new legislation to limit the interactions between government officials and the prediction markets is being <a href=\"https:\/\/cryptonews.com\/news\/pelosi-democrats-ban-prediction-market-insider-trading-maduro-bet\/\">supported by more than 30 Democrats<\/a> in the US House of Representatives, including former Speaker Nancy Pelosi.<\/p>\n<p>The lure behind new restrictions is a controversial Polymarket bet, which <a href=\"https:\/\/x.com\/JoePompliano\/status\/2007455311351718118\" target=\"_blank\">started<\/a> as a bet of $32,000 but eventually became more than $400,000 shortly before the unexpected detention of Venezuelan President Nicol\u00e1s Maduro.<\/p>\n<p>\n                                    <a href=\"https:\/\/news.google.com\/publications\/CAAqKQgKIiNDQklTRkFnTWFoQUtEbU55ZVhCMGIyNWxkM011WTI5dEtBQVAB?ceid=US:en&#038;oc=3\" target=\"_blank\"><\/p>\n<p>                            <svg width=\"20\" height=\"16\" viewBox=\"0 0 20 16\" fill=\"none\">\n                            <path d=\"M19.6 5.36C19.6 5.48 19.6 5.66 19.54 5.78L17.2 12.8V5.6C17.2 4.94 16.66 4.4 16 4.4H12.82L12.52 3.8L11.86 2.36L15.34 3.32L18.58 4.16C19.18 4.28 19.6 4.82 19.6 5.36Z\" fill=\"#FF4131\" \/>\n                            <path d=\"M15.4 0.799997V3.26L11.92 2.3L11.74 1.88C11.44 1.28 10.72 0.979997 10.12 1.22L4.59998 3.38V0.799997C4.59998 0.499997 4.89998 0.199997 5.19998 0.199997H14.8C15.1 0.199997 15.4 0.499997 15.4 0.799997Z\" fill=\"#03A846\" \/>\n                            <path d=\"M12.82 4.4H4.00002C3.34002 4.4 2.80002 4.94 2.80002 5.6V11.42L0.520024 6.5C0.460024 6.26 0.400024 6.08 0.400024 5.9V5.84C0.400024 5.3 0.700024 4.82 1.24002 4.64L4.60002 3.32L10.06 1.22C10.72 0.979997 11.44 1.28 11.68 1.88L11.86 2.3L12.52 3.74L12.82 4.4Z\" fill=\"#FDBD04\" \/>\n                            <path d=\"M17.2 5.59999V14.6C17.2 15.26 16.66 15.8 16 15.8H4.00005C3.34005 15.8 2.80005 15.26 2.80005 14.6V5.59999C2.80005 4.93999 3.34005 4.39999 4.00005 4.39999H16C16.66 4.39999 17.2 4.93999 17.2 5.59999ZM9.40005 9.79999H7.00005V11H7.90005C7.60005 11.36 7.18005 11.6 6.70005 11.6C5.86005 11.6 5.20005 10.94 5.20005 10.1C5.20005 9.25999 5.86005 8.59999 6.70005 8.59999C7.12005 8.59999 7.48005 8.77999 7.78005 9.01999L8.62005 8.17999C8.14005 7.69999 7.48005 7.39999 6.70005 7.39999C5.20005 7.39999 4.00005 8.59999 4.00005 10.1C4.00005 11.6 5.20005 12.8 6.70005 12.8C7.90005 12.8 8.86005 12.08 9.22005 11C9.34005 10.7 9.40005 10.4 9.40005 10.1C9.40005 9.97999 9.40005 9.91999 9.40005 9.79999ZM14.8 7.39999H10.6V8.59999H14.8V7.39999ZM16 9.79999H10.6V11H16V9.79999ZM14.8 12.2H10.6V13.4H14.8V12.2Z\" fill=\"#0284FE\" \/>\n                            <\/svg><br \/>\n                                                                    Follow us on Google News                                    <\/a>\n                                <\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/cryptonews.com\/news\/nevada-moves-to-block-coinbase-prediction-markets-after-polymarket-ban\/\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Tomi Buresh<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crypto Journalist Amin Ayan Crypto Journalist Amin Ayan Part of the Team Since Apr 2025 About Author Amin Ayan is a crypto journalist with over four years of experience in the industry. He has contributed to leading publications such as Cryptonews, Investing.com, 99Bitcoins, and 24\/7 Wall St. He has&#8230; Last updated:\u00a0 February 4, 2026 Nevada<\/p>\n","protected":false},"author":1,"featured_media":890196,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2150,779],"tags":[],"class_list":{"0":"post-890195","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-moves","8":"category-nevada"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/890195","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=890195"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/890195\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/890196"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=890195"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=890195"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=890195"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}