A Carson City judge has granted the Nevada Gaming Control Board’s motion for a preliminary injunction blocking the operation of a third prediction market in the state.
First Judicial District Court Judge Jason Woodbury on Friday granted the Control Board’s motion and state officials believe a formal written order is forthcoming.
“We are very pleased with Judge Woodbury’s ruling and will continue to vigorously enforce Nevada law to safeguard gaming in our state,” Gaming Control Board Chairman Mike Dreitzer said in a release issued by the board Monday.
The injunction blocks QCX LLC, doing business as New York cryptocurrency-based Polymarket US, from providing its services in Nevada.
The Control Board has had similar successes with preliminary injunctions against New York-based KalshiEx LLC, doing business as Kalshi, and internet-centered Coinbase.
The board has taken decisive action in recent months to halt the operations of prediction markets in the state and has successfully restricted the operation of all unlicensed prediction markets that had been known to be operating in the state.
The board started its efforts in March 2025 against prediction markets, which are not licensed by the state but have written event contracts on sports and election outcomes and entertainment propositions.
Regulators consider the offering of sports-event contracts, along with certain other event contracts, to constitute wagering activity under Nevada law. They’ve said that they could operate in the state if were licensed, a process that often takes at least a year to complete.
Prediction markets believe they are authorized to conduct business in Nevada and every other U.S. state because they are regulated by the federal Commodity Futures Trading Commission, currently chaired by Michael Selig.
Because of its assertion that it has exclusive jurisdiction, it also has claimed that its oversight outweighs state gaming laws, which has resulted in pushback and lawsuits from a number of states that regulate casino gambling and sports betting.
Several states have pending litigation in place against prediction markets, but Nevada has seemingly found the silver bullet by taking their cases to state courts instead of federal courts.
Nevada’s public policy, as expressed by the Legislature, is that the gaming industry is vitally important to the economy of the state and the general welfare of the inhabitants and therefore “must be licensed, controlled, and assisted to protect the public health, safety, morals, good order, and general welfare of the inhabitants of the state.”
Contact Richard N. Velotta at rvelotta@reviewjournal.com or 702-477-3893. Follow @RickVelotta on X.
