Crypto.com has called for a preliminary injunction to allow it to keep offering its sports event contracts in Nevada, arguing the state’s Gaming Control Board “unlawfully asserted jurisdiction” when it issued a cease-and-desist order last month.
The cryptocurrency platform sued the state’s gaming authorities in the U.S. District Court for the District of Nevada on Tuesday, following the state’s decision on May 20 to order the business to stop offering sports event contracts. The state argues that these contracts — which allow users to bet on the outcomes of sporting events, but are officially regulated as commodities futures products — are an unlawful form of gaming.
