Overview
- The Nevada Gaming Control Board filed a civil enforcement case in Carson City seeking an ex parte temporary restraining order, a permanent injunction, and declaratory relief against Coinbase Financial Markets.
- Regulators say Coinbase’s event contracts constitute wagering under NRS 463.0193 and 463.01962, alleging unlicensed operations and allowing 18+ users despite Nevada’s 21+ gambling age.
- Coinbase rolled out in-app yes/no event contracts nationwide last month via CFTC-regulated Kalshi and has sued regulators in Connecticut, Michigan, and Illinois asserting federal preemption.
- Nevada argues the operation causes ongoing irreparable harm and confers an unfair advantage over licensed sportsbooks that pay taxes and fees and meet stricter consumer protection requirements.
- The action follows a Nevada temporary restraining order against Polymarket and ongoing litigation with Kalshi, with reports noting possible forthcoming CFTC guidance that could shape these disputes.