Are Prediction Markets Legal in Nevada?

Last updated September 27, 2026. Snapshot — not legal advice.

As of September 27, 2026, Nevada has a restriction on prediction-market platforms currently in effect.

Prediction markets in Nevada

Restriction in effect — compliance disputed
Nevada produced the appellate ruling that created the circuit split. On August 28, 2026 one Ninth Circuit panel decided three Nevada appeals together: a published opinion in KalshiEX, LLC v. Assad holding that Kalshi’s sports event contracts are likely not "swaps" under the Commodity Exchange Act, plus unpublished memorandum dispositions applying that reasoning to Crypto.com’s exchange arm and to Robinhood Derivatives. Read the split precisely: the panel agreed with the Third Circuit that the Commodity Exchange Act preempts state regulation of futures trading — the disagreement is the narrower question of whether sports contracts are the kind of instrument the Act covers at all. All three losers have moved: Kalshi asked the Ninth Circuit to rehear Assad en banc, and Robinhood (No. 26-338) and Crypto.com (No. 26-344) petitioned the Supreme Court in September 2026. Separately, in the Control Board’s own enforcement action in Carson City (State of Nevada ex rel. Nevada Gaming Control Board v. KalshiEX LLC), a state court ordered Kalshi to geofence Nevada and the parties stipulated to full geofencing by August 12, 2026 or about $120,000 a day; the Gaming Control Board says the deadline was missed and has asked the court to impose the penalty, which Kalshi disputes. The Board brought a parallel action against Polymarket (State of Nevada ex rel. Nevada Gaming Control Board v. Blockratize): a federal judge sent it back to state court in March 2026, the state court has since entered a preliminary injunction, and Polymarket’s appeal of the remand is on hold at the Ninth Circuit. A sixth action, Coinbase Financial Markets v. Ford, was dismissed in February 2026 on Younger abstention with the Anti-Injunction Act as an alternative ground — the court expressly declined to reach preemption, so it counts as a merits ruling for neither side.

Litigation affecting Nevada

State of Nevada ex rel. Nevada Gaming Control Board v. KalshiEX LLCKalshi stipulated in July 2026 to full geofencing by August 12 or about $120,000 a day; in August the Control Board told the court it missed the deadline and asked for the penalty, which Kalshi disputes.
Geofencing stipulation; state seeks daily penalties
KalshiEX, LLC v. Assad (below: KalshiEX LLC v. Hendrick)The Ninth Circuit affirmed dissolution of Kalshi’s injunction (August 2026, published), holding its sports event contracts are likely not “swaps” and remanding the election-contract question.
Injunction dissolution affirmed (9th Cir., published); rehearing en banc sought
North American Derivatives Exchange, Inc. (Crypto.com) v. State of NevadaCrypto.com petitioned the Supreme Court (September 11, 2026; No. 26-344) after the Ninth Circuit affirmed against it by unpublished memorandum in August.
Affirmed against the platform (unpublished); cert petition filed
Robinhood Derivatives, LLC v. DreitzerRobinhood petitioned the Supreme Court (September 10, 2026; No. 26-338) after the Ninth Circuit affirmed the denial of its TRO by unpublished memorandum in August.
TRO denial affirmed (9th Cir., unpublished); cert petition filed
Coinbase Financial Markets, Inc. v. FordJudge Silva dismissed the complaint without prejudice three days after filing (February 2026) on Younger abstention and, alternatively, the Anti-Injunction Act — expressly without reaching the merits.
Dismissed without prejudice on abstention — no merits ruling
State of Nevada ex rel. Nevada Gaming Control Board v. Blockratize Inc. (Polymarket)Remanded to state court (March 2026) over Polymarket’s objection; the state court has since entered a preliminary injunction, and the Ninth Circuit refused to stay the remand.
State-court injunction in force; remand appeal on hold (9th Cir.)

Which platforms are available in Nevada?

Each platform’s own published availability list, checked September 24, 2026. This table covers the platforms whose complete list we could verify from a primary source: Kalshi, Polymarket (international), DKeX (DraftKings Predictions), Underdog (Underdog Predict), Novig.

Platform availability in Nevada
PlatformStatus in NevadaSource
KalshiOffered, with sports, elections, entertainment restrictedCourt order · Case
Court order · Case
Court order · Case
Polymarket (international)Unavailable herePlatform’s list
DKeX (DraftKings Predictions)Financial markets onlyPlatform’s list (archived Sep 16)
Underdog (Underdog Predict)Unavailable herePlatform’s list
NovigUnavailable herePlatform’s list

Sports betting & gambling in Nevada

Legal — Online & Retail

The original sports-betting state (legal since 1949); retail plus mobile with in-person registration The market is regulated by the Nevada Gaming Control Board / Nevada Gaming Commission. Tribal gaming: Minor.

The federal-vs-state fight

Every entry in this fight turns on the same question: does a prediction-market platform's federal regulation by the CFTC preempt a state's gambling law, or does the state retain authority to restrict it? Courts around the country are answering that question differently — sometimes for the platform, sometimes for the state — and almost every ruling so far is preliminary and under appeal. Treat this page as a snapshot, not a final word.

This page is informational, not legal advice. Nearly every litigation entry referenced here is a preliminary ruling under appeal. Always verify a platform's current, location-specific eligibility directly with the venue before relying on this page.