Are Prediction Markets Legal in Nevada?

Last updated August 16, 2026. Snapshot — not legal advice.

As of August 16, 2026, Nevada has a restriction on prediction-market platforms currently in effect.

Prediction markets in Nevada

Restriction in effect — compliance disputed
A state court ordered Kalshi to geofence Nevada; after a contempt dispute the parties settled (KalshiEX LLC v. Nevada Gaming Control Board, July 2026), with Kalshi agreeing to full geofencing by August 12, 2026 or a ~$120,000/day penalty. The settlement did not end the dispute: after the deadline the Gaming Control Board reported its investigators could still trade from within Nevada and moved for contempt, which Kalshi disputed. Sources conflict on whether the deadline was met, and the contempt outcome is not established.

Litigation affecting Nevada

KalshiEX LLC v. Nevada Gaming Control BoardKalshi settled (August 2026), agreeing to full geofencing by August 12, 2026 or a ~$120,000/day penalty.
Geofencing settlement (effective Aug. 2026)
KalshiEX LLC v. HendrickKalshi won a federal preliminary injunction against Nevada in April 2025; the same judge dissolved it in November 2025.
Injunction granted, then dissolved

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.