Nevada Wins New Court Battle Against Prediction Markets

Nevada’s gaming regulators have scored a fresh victory in their ongoing legal action against prediction market operators, with a state judge recently granting a preliminary injunction against Polymarket.

“We Will Continue to Vigorously Enforce Nevada Law”

Judge Jason Woodbury of Carson City ruled in favor of the Nevada Gaming Control Board, extending the state’s efforts to block companies that offer event-based contracts without obtaining a Nevada gaming license.

The latest decision follows a temporary ban Woodbury issued against Polymarket ahead of the Super Bowl earlier this year. In April, the same judge granted a similar preliminary injunction against Kalshi, preventing the company from offering contracts tied to sporting events and other outcomes to Nevada residents.

The Nevada Gaming Control Board welcomed the ruling, describing it as another important step in protecting the state’s regulated gaming industry.

“We are very pleased with Judge Woodbury’s ruling and will continue to vigorously enforce Nevada law to safeguard gaming in our state,” said Gaming Control Board chairman Mike Dreitzer.

Nevada regulators have taken an increasingly aggressive stance against prediction markets, arguing that contracts tied to sports, elections, entertainment, and other real-world events amount to wagering activity under state law.

Dreitzer has repeatedly urged the gaming industry to unite against unlicensed operators, saying the Board has taken “decisive action” in recent months to halt prediction market activity within Nevada’s borders.

As a result of previous court orders, both Kalshi and Coinbase are currently prohibited from offering or facilitating sports, election, and entertainment-related event contracts in the state.

Industry “Must Be Licensed, Controlled, and Assisted”

The Board maintains that any company offering these products must comply with Nevada’s strict gaming regulations and licensing requirements.

Dreitzer added that Nevada’s public policy, as written in the Legislature, says that the “gaming industry is vitally important” to both the state economy and the welfare of inhabitants, and therefore must be licensed, controlled, and assisted to guard “public health, safety, morals, good order, and general welfare”.

The ruling is the latest chapter in a growing national debate over whether prediction markets should be regulated as financial products or treated as sports betting and gambling operations under state gaming laws.