{"id":21375,"date":"2026-02-05T11:20:33","date_gmt":"2026-02-05T11:20:33","guid":{"rendered":"https:\/\/bitunikey.com\/news\/coinbase-scores-early-win-as-nevada-fails-to-block-prediction-markets\/"},"modified":"2026-02-05T11:20:40","modified_gmt":"2026-02-05T11:20:40","slug":"coinbase-scores-early-win-as-nevada-fails-to-block-prediction-markets","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/coinbase-scores-early-win-as-nevada-fails-to-block-prediction-markets\/","title":{"rendered":"Coinbase scores early win as Nevada fails to block prediction markets"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Coinbase has secured an early procedural win in its legal standoff with Nevada regulators, blocking an emergency effort to immediately shut down its prediction markets offering in the state.<\/p>\n<div id=\"cn-block-summary-block_0e56b2f021bc9d1ea225fb070d8059d3\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Coinbase blocked Nevada regulators\u2019 emergency bid to immediately halt its prediction markets, with a state court declining to grant a temporary restraining order.<\/li>\n<li>The exchange argues prediction markets fall under exclusive CFTC jurisdiction, not state gambling laws, a position reiterated by Coinbase CLO Paul Grewal.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>A Nevada court declined to grant the Nevada Gaming Control Board\u2019s (NGCB) request for a temporary restraining order that would have forced Coinbase to halt its event-based contracts for local users. Instead, the court scheduled a full hearing, allowing Coinbase\u2019s prediction markets to remain live while the case proceeds.<\/p>\n<p>Coinbase Chief Legal Officer Paul Grewal <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/iampaulgrewal\/status\/2019250271210336478\" target=\"_blank\" rel=\"nofollow\">confirmed<\/a> the ruling in a post on X, arguing that Nevada\u2019s emergency filing attempted to sidestep federal law. <\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Yesterday the Nevada Gaming Control Board tried to get a NV state court to stop us ex parte from listing there any event contracts, sports-related or otherwise, without any opportunity for us to be heard. Today that court said no, after we argued that due process requires at a\u2026<\/p>\n<p>\u2014 paulgrewal.eth (@iampaulgrewal) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/iampaulgrewal\/status\/2019250271210336478?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">February 5, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>Grewal reiterated that Congress has granted the Commodity Futures Trading Commission (CFTC) exclusive jurisdiction over these contracts, leaving state gaming regulators without authority to intervene.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>Coinbase\u00a0began offering prediction markets\u00a0last month across 50 U.S. states via a partnership with Kalshi.<\/p>\n<h2 class=\"wp-block-heading\">Nevada\u2019s gambling argument against Coinbase<\/h2>\n<p>The NGCB filed suit earlier this month, claiming Coinbase\u2019s prediction markets amount to unlicensed sports wagering under Nevada law. Regulators argued the products pose a threat to the state\u2019s heavily regulated gaming industry.<\/p>\n<p>According to the complaint, Coinbase\u2019s markets allow users to trade on real-world outcomes in a manner that resembles traditional betting, bringing them squarely within Nevada\u2019s gambling statutes. On that basis, the state sought an emergency injunction, arguing immediate action was needed to prevent irreparable harm.<\/p>\n<p>Coinbase countered that the emergency request was legally flawed and overly broad. In its filings, the company argued that even if the court were to block Coinbase, Nevada residents could still access identical contracts through federally regulated platforms, undermining the state\u2019s claim of urgency.<\/p>\n<p>The Nevada case follows similar regulatory pushback in other states, including Michigan, Illinois, and Connecticut, where Coinbase has proactively sought court rulings to affirm federal preemption. <\/p>\n<p>While the court\u2019s refusal to grant emergency relief does not resolve the case, it gives Coinbase valuable breathing room and signals judicial caution around reclassifying federally regulated contracts as illegal gambling. <\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Coinbase has secured an early procedural win in its legal standoff with Nevada regulators, blocking an emergency effort to immediately shut down its prediction markets offering in the state. Summary&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1857,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-21375","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/21375","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=21375"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/21375\/revisions"}],"predecessor-version":[{"id":21376,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/21375\/revisions\/21376"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/1857"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=21375"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=21375"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=21375"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}