Nevada regulators have taken legal action to stop Coinbase from offering its prediction market products in the state, asserting that the platform is operating unlicensed gambling services.
The Nevada Gaming Control Board filed a civil enforcement action in Carson City’s First Judicial District Court on 2 February, accusing Coinbase Financial Markets of providing sports events and other similar contracts to users without a state gambling license.
The regulator asked the court to issue a preliminary injunction against Coinbase, banning it from operating in the state.
“The board takes seriously its obligation to operate a thriving gaming industry and to protect Nevada citizens. The action taken yesterday reinforces this obligation,” Mike Dreitzer, Chairman of the Nevada Gaming Control Board, said in a news release.
