Nevada Judge Halts Polymarket Trading for 14 Days Ahead of Injunction Hearing

The ruling signals Nevada intends to regulate crypto prediction markets under its gambling licensing regime.

Overview

Carson City District Court Judge Jason Woodbury issued a temporary restraining order blocking Polymarket from offering sports and event contracts to Nevada residents for two weeks.
The court found the Commodity Exchange Act does not grant the CFTC exclusive jurisdiction over Polymarket’s contracts and cited immediate, irreparable harm to Nevada’s regulatory framework.
The Nevada Gaming Control Board brought the civil action seeking to stop unlicensed wagering, with a preliminary‑injunction hearing set for February 11.
Polymarket says it has suspended trading in Nevada, is geo‑blocking state residents, and is challenging the order in court.
The action forms part of wider enforcement pressures, including Tennessee cease‑and‑desist letters and bans in Portugal and Hungary, raising the prospect that platforms may need state licenses or scale back sports markets.