🔔Nevada Regulator Sues Coinbase, Alleging It Offers Unlicensed Sports Betting Contracts According to Mars Finance, the Nevada Gaming Control Board has filed a civil enforcement lawsuit in the First Judicial District Court of Nevada, accusing Coinbase of offering unlicensed sports betting contracts through its Coinbase Financial Markets division. The filing shows that the regulator is also requesting a temporary restraining order and a preliminary injunction, requiring Coinbase to cease "operating a sports betting-related derivatives exchange and prediction market" in Nevada. Nevada Gaming Control Board Chairman Mike Dreitzer stated that this move aims to fulfill regulatory responsibilities and protect the local gaming industry and the interests of state residents. This lawsuit comes less than a week after Coinbase announced its partnership with Kalshi to launch prediction market services in all 50 states. Although Kalshi is regulated at the federal level by the Commodity Futures Trading Commission (CFTC), state-level regulators can still file legal challenges regarding related businesses. Furthermore, Nevada recently took similar action against Polymarket, with a court previously granting a temporary restraining order prohibiting it from offering event-based contract betting to state residents. These cases are also seen as potentially challenging federal regulatory authority over forecasting markets.