According to the Nevada Gaming Control Board, Crypto.com will stop offering sports event contracts to Nevada residents starting November 3.The move comes after a federal...
Nevada judge rejects Crypto.com’s bid to continue sports injuction
Contrary to a similar ruling earlier in 2025 in favor of sports prediction market Kalshi, a Nevada federal court has rejected the application of Crypto.com to continue writing contracts for sporting events.
Andrew Gordon, a Nevada federal court judge, denied Crypto.com an injunction that would have permitted it to continue contracting for sports events in the state. The majority of legal analysts were surprised by the ruling since the same court previously barred Kalshi’s prediction market on virtually the same grounds.
The Nevada Gaming Control Board excluded Crypto.com from sports outcome contracts in June 2025, precipitating the company’s legal fight. The website contended that such contracts must be deemed federally regulated “swaps,” not gambling products, and lie within the jurisdiction of the Commodity Futures Trading Commission (CFTC).
Judge Gordon concurred with Kalshi in the spring, holding that the Commodity Exchange Act gave the CFTC “exclusive jurisdiction.” But he wasn’t going to extend the same logic to Crypto.com today. Although the complete justification hasn’t been fleshed out yet, it’s expected that it could depend on what the court decides a “swap” is.
U.S. law requires that the swaps must have economic or financial implications, a provision authorities have long tried to circumvent in the case of sports results. The caution of the court could have been prompted by the recent announcement of the CFTC that it hasn’t decided yet whether such contracts are legal.
Daniel Wallach, a legal analyst, noted on, X that the entire business model unravels if sports event contracts are not considered ‘swaps’ under the CEA. On the argument that the conflicting decisions “promise a different result on the appellate level,” Crypto.com intends to appeal before the Ninth Circuit.
Crypto.com is taking legal action against the Nevada Gaming Control Board (NGCB), claiming the state is overstepping its authority by blocking its sports-related financial...
