TechFlow news: On February 4, according to Cointelegraph, the Nevada Gaming Control Board filed a civil enforcement lawsuit against Coinbase, accusing it of offering sports betting contracts without proper licensing. Nevada authorities have petitioned the court for a temporary restraining order and a preliminary injunction to halt Coinbase’s operation of “derivatives exchanges and prediction markets” related to sports betting.
This lawsuit comes less than a week after Coinbase announced its partnership with Kalshi to launch prediction markets across all 50 U.S. states. Although the Commodity Futures Trading Commission (CFTC) regulates Kalshi at the federal level, the platform continues to face legal challenges from state-level regulators.
Mike Dreitzer, Chairman of the Nevada Gaming Control Board, stated in a Tuesday announcement: “The Board takes seriously its duty to foster a thriving gaming industry and protect Nevada citizens.” Notably, last week, a Nevada court also issued a temporary restraining order against Polymarket’s operator.
