Nevada District Judge Cristina Silva has issued a temporary retraining order against Coinbase over its offering of sports events contracts, as well as scheduled a hearing on the state’s request for a preliminary injunction against the prediction markets operator for February 17.
The Nevada Gaming Control Board (NGCB) had previously filed a civil enforcement action against Coinbase Financial Markets in Carson City District Court on February 3, having requested an injunction to prohibit the operator from offering unlicensed event contract trading.
Coinbase responded to the civil enforcement action by filing a countersuit against the state on February 4, but will now be prohibited from offering its sports events contracts in Nevada for 14 days.
Within the enforcement action, the NGCB stated Coinbase “serves as an intermediary for customers trading regulated derivatives,” and “offers products referred to as event contracts for sale on its mobile app, which are made available to people in Nevada.”
Under state guidelines such as NRS 463.0193 and 463.01962, the NGCB considers the offering of sporting event contracts, or certain other contracts, to constitute wagering activity.
The First Judicial State Court of Nevada for Carson City had also previously issued a temporary restraining order against fellow prediction markets operator Polymarket on January 30.
Judge Jason Woodbury ruled: "The question of federal preemption in this regard is nuanced and rapidly evolving. At the moment, the balance of convincing legal authority weighs against federal preemption in this context.
"The resulting harm in evasion of Nevada's 'comprehensive regulatory structure' and 'strict licensing standards' is immediate, irreparable and not sufficiently remediable by compensatory damages. The Board has a statutory duty to protect the public and advance Nevada's interest in administering a reputable gaming industry with integrity.”
The NGCB had previously filed a motion for preliminary injunction against Polymarket on January 20, with a hearing rescheduled for February 11 in Nevada state court.
Coinbase’s prediction market platform, announced in tandem with Kalshi in December 2025, was officially launched in all 50 US states on January 29, covering sports, entertainment and politics
