Crypto.com Can’t Offer Sports Swaps in Nevada Court Rules

• Nevada Judge Andrew Gordon denies Crypto.com’s request to offer sports betting contracts, citing state gaming authority over event-based prediction markets.
• Federal vs state regulation of crypto sports markets is a continued conflict for operators in Nevada, with
• Crypto.com argues its offerings are federally regulated “Swaps”.

CARSON CITY, Nev. – Crypto betting platforms face increased scrutiny in Nevada, after a recent ruling in the Crypto.com jurisdiction affirmed the risk of state-level gambling bans, despite federal regulation.

U.S. District Judge Andrew P. Gordon denied Crypto.com’s request for a preliminary injunction that would have allowed the crypto predictions platform to continue offering sports event contracts in Nevada.

The Background

This case emerged after the Nevada Gaming Board (NGCB) issued a cease-and-desist order in May 2025, ordering Crypto.com to stop offering contracts.

Crypto.com argued that its sports event contracts should be regulated as US sports betting laws, falling under the Commodity Futures Trading Act (CFTA) as “Swaps”. Transferring jurisdiction to the Commodity Futures Trading Commission (CFTC), it would preempt state laws in scenarios like this.

Earlier in 2025, Judge Gordon granted a similar injunction to Kalshi, allowing them to continue offering legal US sports betting as event contracts in Nevada while its lawsuit proceeds. The order blocked Nevada regulators from enforcing cease-and-desist letters against Kalshi.

Pending litigation may force platforms in Nevada to stop offering certain contract types. However, Crypto.com plans to appeal the legal USA gambling ruling to the Ninth Circuit Court.