A Nevada court has temporarily barred Polymarket from offering event contracts in the state, joining a growing list of states that have taken legal action against prediction markets.
According to Front Office Sports, the action follows the Nevada Gaming Control Board’s lawsuit against Polymarket on 15 January, in which the regulator argued that the company’s “event contracts” effectively function as gambling and require licensing.
Judge Jason Woodbury sided with the Gaming Control Board, saying the Commodity Exchange Act “does not vest exclusive jurisdiction over Polymarket’s contracts with the Commodity Futures Trading Commission.”
Woodbury also agreed with regulators that Polymarket’s activities likely violate Nevada’s gambling framework and pose harm to the state’s tightly controlled betting environment.
