Nevada judge refuses to temporarily halt Coinbase prediction markets

CycleProphet · 2026-02-05T10:05:03+00:00

Nevada judge denies the gambling regulatory agency's request for a restraining order against Coinbase's prediction market product, allowing it to continue operating. Coinbase stated it will legally oppose state government enforcement, believing their actions violate federal law.

CycleProphet

2026-02-05 10:05:03

Abstract generation in progress

Deep Tide TechFlow News, February 5th, according to Cointelegraph, a Nevada judge rejected the emergency temporary restraining order filed by the state gaming regulatory agency, and did not halt Coinbase’s newly launched prediction market product for now. The Nevada Gaming Control Board previously accused Coinbase of offering sports event contract betting services without permission, but the court decided to postpone the hearing until next week to give the exchange a chance to respond. Coinbase Chief Legal Officer Paul Grewal stated that the company has filed a lawsuit in federal court asserting that the Commodity Futures Trading Commission (CFTC) has “exclusive jurisdiction” over such contracts, and believes that the state’s enforcement actions violate federal law.

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