⚖️ Nevada Court Issues Temporary Ban on Polymarket’s Event Contracts 🎲📉


✨ Key Takeaways

A Nevada judge issued a 14‑day restraining order against Blockratize, operator of prediction market Polymarket.
The ruling prohibits Polymarket from offering event contracts to Nevada residents.
The court sided with the Nevada Gaming Control Board, classifying Polymarket’s sports and event markets as unlicensed gambling, not regulated financial products.
The judge emphasized risks to gambling integrity, underage access, and compliance standards if the platform continued without a license.
This challenges the industry’s assumption that federal commodity laws override state gambling regulations.
Similar actions have occurred in Tennessee, where regulators asked Polymarket and Kalshi to halt sports event contracts.


📊 Market Metrics

Restraining Order Duration: 14 days.
Targeted Platform: Polymarket (Blockratize).
Regulatory Authority: Nevada Gaming Control Board.
Industry Impact: Expands state‑level pushback against prediction markets.


🧭 Big Picture

This ruling highlights the regulatory clash between state gambling laws and federal commodity oversight 🌐. Prediction markets like Polymarket are increasingly under scrutiny, with states asserting jurisdiction over event contracts. If upheld, this could reshape how platforms operate in the U.S., forcing them to navigate dual compliance regimes — financial regulation and gambling law.