regulation

    Nevada Completes Its Prediction Market Sweep: All Major Platforms Now Blocked

    A Nevada judge granted a preliminary injunction against Polymarket on May 29, 2026, completing the state's systematic enforcement campaign against every major prediction market platform. Here's what the sweep means for US traders.

    By PredictionMarkets.usThursday, June 4, 202611 min read
    Nevada Completes Its Prediction Market Sweep: All Major Platforms Now Blocked

    Nevada has done what no other state has managed: it has placed every major prediction market platform under a court-ordered restraint. On May 29, 2026, First Judicial District Court Judge Jason Woodbury granted the Nevada Gaming Control Board's motion for a preliminary injunction against QCX LLC, doing business as Polymarket US. The Nevada Gaming Control Board announced the ruling on June 2, noting that it had "successfully restricted the operation of all unlicensed prediction markets that had been known to be operating in Nevada."

    The Polymarket ruling is the third preliminary injunction Judge Woodbury has issued against a prediction market platform in Nevada's state courts. Kalshi and Coinbase were already operating under prior court orders blocking them from offering sports, election, and entertainment contracts in the state. Together with Robinhood's voluntary withdrawal and Crypto.com's exit after a separate court denial, Nevada has effectively cleared its market of every major platform in the space.

    "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 the board's June 2 release.

    What the Polymarket Injunction Covers

    The NGCB's civil enforcement action against Polymarket, filed in Carson City District Court in January 2026, names three corporate entities: Blockratize, Inc., QCX LLC, and Adventure One QSS, Inc. The complaint argues that Polymarket's event contracts — including sports outcomes and other event types offered on its mobile app — constitute wagering activity under Nevada law, specifically Nevada Revised Statutes 463.0193 and 463.01962, which govern betting and games of chance.

    Judge Woodbury issued a temporary restraining order against Polymarket on January 29, 2026, shortly after the enforcement action was filed. That order blocked Polymarket from operating or offering any market involving events-based contracts in Nevada without a state gaming license. The May 29 preliminary injunction extends that restriction for the duration of the underlying litigation.

    A formal written order is still forthcoming as of the NGCB's June 2 announcement. Polymarket has grounds to appeal Judge Woodbury's ruling. The case remains active.

    For US traders: Polymarket US (QCX LLC) is a CFTC-licensed designated contract market, regulated at the federal level. That federal status is the centerpiece of the platform's legal defense — and the exact argument Nevada's state courts have consistently declined to accept as dispositive.

    Nevada's 15-Month Enforcement Campaign

    Nevada's campaign against prediction markets has been methodical and almost entirely waged in state court — a deliberate choice that has paid off in results.

    March 2025: The NGCB sends Kalshi a cease-and-desist letter, accusing it of violating state gaming law.

    2025: Kalshi responds by suing Nevada in federal court and winning a temporary order from US District Judge Andrew Gordon blocking state enforcement. Gordon later dissolves that order and expresses skepticism about the federal-preemption theory. "Nobody thought sports bets were commodities or excluded commodities or swaps until some brilliant people at Kalshi," Gordon wrote in his ruling.

    January 16–17, 2026: The NGCB files its civil enforcement action against Polymarket in Carson City District Court.

    January 29, 2026: Judge Woodbury grants a temporary restraining order against Polymarket, blocking event-contract operations in Nevada.

    February 2026: The Ninth Circuit Court of Appeals rules in favor of the NGCB, confirming that Kalshi can be barred from offering sports contracts in Nevada.

    February 2026: The NGCB files for an injunction against Coinbase.

    March 20, 2026: Judge Woodbury grants a temporary restraining order against Kalshi in state court.

    March 26, 2026: Judge Woodbury grants a preliminary injunction against Coinbase, barring it from offering or facilitating sports, election, and entertainment-related event contracts in Nevada.

    April 2026: A three-judge Ninth Circuit panel hears oral arguments in the Kalshi appeal; panel reportedly leans toward Nevada.

    May 2026: A prediction market conference originally scheduled at the ARIA Resort & Casino on the Las Vegas Strip is relocated to New York City after MGM Resorts reportedly raised concerns about its Nevada gaming license.

    May 29, 2026: Judge Woodbury grants a preliminary injunction against QCX LLC d/b/a Polymarket US.

    June 2, 2026: NGCB announces the Polymarket ruling and declares that all major unlicensed prediction markets in Nevada have now been restricted.

    Platform-by-Platform Status in Nevada

    Here is the current regulatory picture for Nevada residents as of June 4, 2026:

    Kalshi — Preliminary injunction blocks sports, election, and entertainment event contracts. Kalshi has separately filed federal lawsuits in multiple states challenging state authority. The NGCB also has a pending AG enforcement action seeking to extend restrictions further.

    Coinbase (prediction markets via Kalshi) — Preliminary injunction issued March 26, 2026. Sports, election, and entertainment contracts blocked.

    Polymarket US (QCX LLC) — Preliminary injunction issued May 29, 2026. Written order forthcoming. Services ceased pending compliance with the court order.

    Robinhood — Voluntarily agreed to stop offering event contracts in Nevada pending the outcome of litigation. No court order required.

    Crypto.com / CDNA — Withdrew from Nevada after a separate denial of an injunction.

    The NGCB's position is that any prediction market platform wishing to operate in Nevada may do so — but must first obtain a Nevada gaming license. Regulators have acknowledged that licensing typically takes at least a year. No major prediction market platform has initiated a Nevada gaming license application.

    Why the State-Court Strategy Has Worked

    Nevada's approach stands apart from other states that have battled prediction markets in federal courts, where platforms have generally found more favorable ground.

    Platforms like Kalshi and Polymarket US argue that the Commodity Exchange Act grants the CFTC exclusive jurisdiction over event contracts traded on designated contract markets. Under this theory, state gambling laws are preempted — platforms can operate nationally regardless of what state gaming regulators say.

    That argument has carried more weight in federal courts than in Nevada's state courts. When Judge Woodbury granted the Polymarket PI, he noted that Nevada's "comprehensive regulatory structure" and "strict licensing standards" justify a finding that permitting an unlicensed operator to offer bets causes irreparable harm to the state's ability to fulfill its statutory functions.

    That framing is significant. It grounds Nevada's injury in its regulatory role — not in financial harm to existing licensed sportsbooks — making the state's standing argument harder to attack on pre-emption grounds alone.

    The Third Circuit reached a different conclusion in April 2026, ruling in KalshiEx LLC v. Flaherty that federal law preempts New Jersey's attempt to block Kalshi. Nevada is the only state to have tested its legal theory in front of both state courts and the Ninth Circuit, and it has won at every level so far.

    What Comes Next: The Ninth Circuit and the Road to the Supreme Court

    The most significant pending development is the Ninth Circuit's review of the Kalshi case on Nevada's appeal. April oral arguments saw a three-judge panel reportedly leaning toward Nevada. A ruling in Nevada's favor would create a direct circuit split with the Third Circuit's KalshiEx v. Flaherty decision — a conflict that would almost certainly push the question to the US Supreme Court.

    A Supreme Court ruling on whether the Commodity Exchange Act preempts state gambling laws would resolve the single most consequential legal question hanging over the US prediction market industry. It would either validate platforms' ability to operate nationally without state gaming licenses, or it would confirm that states retain the authority to require licensing for any entity offering event contracts to their residents.

    Until that question is resolved, Nevada's strategy provides a roadmap. Other states watching Nevada have now seen that a state-court approach — where federal preemption arguments carry less procedural weight — can produce injunctions faster than multi-year federal litigation.

    President Trump said in late May 2026 that CFTC exclusive jurisdiction is "critically important" and that the administration is "setting 'rules of the road' that are the Gold Standard for the States." A CFTC rulemaking proposal on prediction market regulation is under review by the White House Office of Management and Budget. If the CFTC issues a formal rule asserting exclusive jurisdiction, that could change the legal calculus in state courts — but no rule has been finalized.

    What This Means for Traders

    If you are in Nevada, none of the major prediction market platforms are currently accessible through normal channels. Kalshi, Coinbase, Robinhood, Polymarket US, and Crypto.com CDNA-backed platforms have all either been enjoined or withdrawn from the state.

    This is a temporary situation tied to ongoing litigation — preliminary injunctions are not final judgments. Any of the platforms could appeal, seek to modify the injunction scope, or ultimately prevail at trial. But none have indicated they are pursuing Nevada gaming licenses, which is the state's stated path to compliance.

    Traders in the remaining 49 states can still access Kalshi and Polymarket US subject to their individual state restrictions. PredictionMarkets.US covers live markets from both platforms with current pricing and volume data.

    Frequently Asked Questions

    Why does Nevada have preliminary injunctions when other states don't? Nevada chose to file enforcement actions in state court rather than federal court. In state court, the CFTC's federal-preemption argument carries less procedural weight. Nevada has won at every state-court level and in the Ninth Circuit on the sports-contract question. Other states are now studying Nevada's approach.

    Is Polymarket US (QCX LLC) still federally licensed? Yes. QCX LLC d/b/a Polymarket US retains its CFTC designation as a designated contract market — that regulatory status has not changed. The Nevada preliminary injunction is a state-court order requiring compliance with Nevada gaming law, separate from the federal CFTC framework.

    What is Kalshi's status in Nevada? Kalshi (KalshiEx LLC) is operating under a state-court preliminary injunction that blocks it from offering sports, election, and entertainment event contracts in Nevada. The Nevada AG has also filed a broader civil enforcement action seeking to block all Kalshi operations in the state.

    Can Polymarket appeal the Nevada ruling? Yes. The preliminary injunction is not a final judgment. Polymarket can appeal Judge Woodbury's order. The litigation is ongoing.

    What would end Nevada's enforcement campaign? Either a US Supreme Court ruling confirming federal preemption of state gambling laws, a CFTC rule with clear preemptive effect that state courts accept, or a platform obtaining and operating under a Nevada gaming license. None of those outcomes has materialized yet.

    Conclusion

    Nevada's completion of its enforcement sweep marks the most decisive state-level regulatory action taken against the prediction market industry to date. Every major platform that was operating in Nevada is now either enjoined by a court order or has withdrawn voluntarily. Chairman Dreitzer's explicit call for the broader gambling industry — sportsbooks, casinos, tribal gaming — to rally against prediction market expansion signals that Nevada views this as a permanent policy stance, not just a temporary enforcement phase.

    The Ninth Circuit's pending ruling in the Kalshi case is the most important legal development to watch. If Nevada prevails there, the prediction market industry faces a circuit split that is almost certain to reach the Supreme Court — and until that resolution, the regulatory uncertainty is the biggest structural risk facing the US prediction market sector.

    For live market pricing and platform availability by state, visit PredictionMarkets.US.

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