A Nevada court has issued a temporary restraining order, deeming Polymarket's event markets constitute unlicensed gambling

Odaily News: A Nevada state judge has issued a 14-day temporary restraining order against Blockratize, the operator of the prediction market Polymarket, prohibiting it from offering event contracts to residents of the state. This ruling challenges the industry's view that federal commodity laws preempt state gambling regulations.

The court supported the application from the Nevada Gaming Control Board, finding that the sports and other event markets offered by Polymarket constitute unlicensed gambling, rather than regulated financial products. The judge noted that if the platform continues to operate without a gambling license, it would cause irreparable harm to the state's ability to regulate gambling integrity, underage gambling, and compliance standards. Previously, Tennessee had also required platforms like Polymarket and Kalshi to cease offering sports event contract business in the state.