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Crypto

Nevada authorities sue Coinbase over unlicensed gambling

Nevada authorities sued Coinbase on allegations of unlicensed sports gambling, Cointelegraph reported on Feb. 3. The Nevada Gaming Control Board said Coinbase offered illegal gambling through sports event contracts and asked a court for an injunction to ban operation of a Coinbase derivatives exchange and prediction markets. The action came a week after Coinbase partnered with Kalshi to open prediction markets across all 50 U.S. states.

Crypto

Nevada court orders temporary shutdown of Polymarket

A Nevada court ordered blockchain-based prediction market Polymarket to stop operating temporarily, Cointelegraph reported on Monday. The move is tied to claims Polymarket tried to sidestep state gambling regulation. The court said the Nevada Gaming Control Board can issue a 14-day temporary restraining order. Polymarket argued the matter falls under the U.S. Commodity Futures Trading Commission, but the court said the state can apply its own gambling laws.