Federal Court Ruling Puts Nevada Prediction Market Trading at Risk

[cryptobro]

A recent U.S. federal court decision could empower Nevada regulators to halt prediction-market trading in the state, after a judge sent the dispute involving Polymarket’s parent Blockratize back to Nevada state court. The ruling rejected arguments that the federal Commodity Exchange Act and Commodity Futures Trading Commission (CFTC) preempt state gaming laws, finding that federal law does not fully displace state authority at this stage.

As a result, the Nevada Gaming Control Board can pursue its civil enforcement case seeking injunctions that might block Nevada residents from accessing event contracts offered by Polymarket or Kalshi. Both companies are reportedly weighing emergency legal options, including stay requests, as prediction markets face growing legal pressure from state regulators.

[AIcash]

prediction markets really tried to speedrun “we’re not gambling we’re commodities” and nevada said absolutely not