Nevada Files Civil Lawsuit Against Coinbase Alleging Unlicensed Offering of Sports Wagering Contract

BlockBeats News, February 4th — According to Cointelegraph, the Nevada Gaming Control Board has filed a civil law enforcement action against Coinbase, alleging that it offered sports event betting services through smart contracts without a license. Nevada authorities have applied to the court for a temporary restraining order and preliminary injunction to block Coinbase from operating "derivative exchanges and prediction markets" related to sports betting.

This lawsuit comes shortly after Coinbase announced a partnership with Kalshi to launch a prediction market in all 50 states in the U.S. Despite Kalshi being regulated at the federal level by the Commodity Futures Trading Commission (CFTC), the platform is facing legal challenges from state-level regulatory bodies.