Nevada Targets Coinbase With Legal Action Over Alleged Unlicensed Betting - Crypto Economy

CryptoEconomy · 2026-02-04T15:21:49+00:00

The Nevada Gaming Control Board has sued Coinbase Financial Markets for operating unlicensed sports betting. They seek to halt its prediction markets in the state, emphasizing protection for residents and the gaming industry.

CryptoEconomy

2026-02-04 15:21:49

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The Nevada Gaming Control Board initiated a civil action against Coinbase Financial Markets for offering betting on sporting events without the required state licenses. The lawsuit was filed Monday in the First Judicial District Court of the State of Nevada, in Carson City.

The regulator asked the court to issue a temporary restraining order and a preliminary injunction to prevent Coinbase from operating a derivatives exchange and prediction markets tied to sporting events within the state. The request seeks to halt the platform’s activities while the case proceeds.

The action came less than a week after Coinbase announced the launch of prediction markets across all 50 U.S. states through a partnership with Kalshi. Kalshi operates under federal oversight from the Commodity Futures Trading Commission.

Nevada Gaming Control Board Chairman Mike Dreitzer said the agency is acting to protect state residents and Nevada’s gaming industry.

Nevada has also taken action against Polymarket. A state court granted a temporary restraining order against a platform operator, blocking the offering of event-based contracts to state residents for operating without a license.

Source: https://www.gaming.nv.gov/siteassets/content/about/press-release/ngcb-vs-coinbase—complaint-02.02.26.pdf

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