Nevada Gains Power to Regulate Sports Prediction Markets

The Ninth Circuit Court of Appeals ruled on August 28 that sports-related event contracts offered by prediction-market platforms are not swaps under federal commodities law, clearing the way for Nevada to apply its own gaming regulations to those products. The decision, detailed in ReadWrite’s earlier coverage of the case , denied requests for injunctive relief from Kalshi, Crypto.com, and Robinhood. All three platforms had asked the court to stop the Nevada Gaming Control Board from shutting do