By Richard N. Velotta / Las Vegas Review-Journal
Nevada has now successfully blocked every major prediction market platform from operating within its borders, with a Carson City judge granting a preliminary injunction against Polymarket on May 29 — the final piece in a methodical enforcement campaign by the Nevada Gaming Control Board.
First Judicial District Court Judge Jason Woodbury granted the Gaming Control Board’s motion for a preliminary injunction against QCX LLC, doing business as Polymarket US, ruling that the platform’s event-based contracts constitute unlicensed wagering activity under Nevada law. The NGCB announced the ruling publicly on June 2.
The Polymarket ruling completes a statewide sweep. The board has now obtained court orders restricting all major prediction market platforms known to be operating in Nevada, including earlier actions against Kalshi and Coinbase. The enforcement campaign is the most decisive taken by any state against the prediction market industry to date.
At the center of the legal dispute is a fundamental jurisdictional question. Prediction market platforms, including Polymarket and Kalshi, argue they are regulated by the federal Commodity Futures Trading Commission and that CFTC oversight preempts state gaming laws. Nevada regulators reject that argument entirely, contending that event contracts — which allow users to wager on the outcomes of sports, elections, and other events — constitute gambling activity under state law and must be licensed, controlled, and regulated to protect public health, safety, and general welfare.
Nevada’s strategy of pursuing enforcement in state court rather than federal court appears to have been the decisive tactical move. Several other states, including Massachusetts, Illinois, and Arizona, are engaged in similar legal battles with prediction markets, but Nevada has moved further and faster by keeping its cases out of federal jurisdiction, where prediction platforms had previously found more favorable rulings.
The broader industry has already felt the consequences. FanDuel surrendered its Nevada gaming licenses and DraftKings withdrew pending Nevada applications after the Gaming Control Board made clear that offering sports event contracts would be treated as unlawful activity. A prediction market conference scheduled at ARIA Resort and Casino on the Las Vegas Strip was canceled earlier this year after MGM Resorts raised concerns about potential issues with Nevada gaming regulators.
Nevada’s public policy, as expressed by the Legislature, holds that the state’s gaming industry is vitally important to the economy and general welfare of its residents and must be protected through rigorous licensing and oversight. The Gaming Control Board’s successful enforcement actions against prediction markets are a direct application of that mandate.
Source: Las Vegas Review-Journal, June 2, 2026. Reported by Richard N. Velotta.